28 Mar 2023
Who is the first Filipino Auditor General of COA?
Know who is the first ever Filipino Auditor General of the Philippines.
Government Auditing
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31 Jan 2023
What is an AOM, NS, ND, NC, NSSDC, SASDC, NFD, and COE?
1. Audit Observation Memorandum (AOM) The AOM is issued to inform the auditee of deficiencies noted in audit related to financial/operational matters which do not involve pecuniary/monetary loss. It is issued when the audit decision cannot yet be made due to incomplete documentation or information. Once received, the AOM shall be replied to by agency officials concerned within 15 calendar days (CDs) from receipt thereof. [Read: 10 Reasons Why You Receive AOM from the Commission on Audit] 2. Notice of Suspension (NS) A Suspension is a temporary disallowance of a transaction which is of doubtful legality/validity/propriety or may result to pecuniary loss to...
17 Sep 2022
COA Circular No. 2022-004 — Guidelines on increasing the capitalization threshold (for PPEs) from 15,000.00 to P50,000.00
Purpose COA Circular No. 2022-004 was issued by the Commission on Audit (COA) to provide guidelines on the implementation of Section 23 of the General Provisions of Republic Act (RA) No. 11639 also known as the General Appropriations Act (GAA) for Fiscal Year (FY) 2022 relative to the increase in the capitalization threshold from 15,000.00 to P50,000.00. Applicability This Circular is applicable to the following government sectors: 💡 National Government Agencies (NGAs) 💡 Local Government Units (LGUs) 💡 Government Corporations (GCs) Important Points/Provisions 💡 Tangible items which meet the definition and recognition criteria of PPE but cost is below Fifty...
6 Sep 2022
Quiz: Five (5) Forbidden Expenditures in the Government
Let’s us test how well do you know your IUEEU also known as the five (5) forbidden expenses in the government. Answer the following questions by clicking/choosing the correct answer. Tell us in the comments section below how many did you get correctly. You may now begin. Congratulations! Your score is shown above. Scroll up a bit if you cannot see it on your screen. This quiz is based on Commission on Audit (COA) Circular No. 2012-003 dated October 29, 2012 re: Updated Guidelines on the Prevention and Disallowance of Irregular, Unnecessary, Excessive, Extravagant and Unconsionable (IUEEU) ExpendituresTo learn more...
1 Sep 2022
Top 10 Highest Paid Government Officials in CY 2021 – (based on COA’s Report on Salaries and Allowances)
📺 Watch ••• [ad_1] ••• 📚 Read Here’s the list of the Top 10 Highest Paid Government Officials in 2021: 1. BSP Governor Benjamin Diokno – P41.81 million Former BSP Governor Benjamin E. Diokno, now the Secretary of the Department of Finance under the Marcos Jr. administration, remains the highest paid government official in the Philippines in 2021. 2. BSP Monetary Board member Victor Bruce Tolentino – P23.29 million BSP Monetary Board member Tolentino is No. 26 highest paid government official in 2020 with total salaries and allowances amounting to P9.73 million. ••• [ad_1] ••• 3. BSP Monetary Board member...
31 Aug 2022
30 Aug 2022
7 Basic Requirements for the Disbursement of Government Funds
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17 Jul 2022
What is COA Order of Execution?
A COA Order of Execution (COE) is issued by COA to enforce the settlement of audit disallowance/ charge whenever the person or persons liable refuse or fail to settle the same after the decision has become final and executory as indicated in the Notice of Finality of Decision (NFD). A Notice of Finality of Decision (NF) is issued by COA to inform the agency concerned that a decision by the Commission or its authorized representatives has become final and executory, which shall be the basis by the agency for recording the disallowance/ charge in the agency’s books of accounts. Reference:...
17 Jul 2022
[Featured Circular] COA’s Circular on “One-Time Cleansing” of PPE accounts
Featured Circular The Commission on Audit (COA) issued COA Circular No. 2020-06 in CY 2020 to prescribe the guidelines on the following for the one-time cleansing of PPE account balances of government agencies: ☑️ conduct of physical count of property, plant and equipment; ☑️ recognition of PPE items found at station; and ☑️ disposition procedures for non-existing or missing PPE items. Why did COA issue this Circular? According to COA, the PPE accounts constitute a significant portion of the assets of the government, usually 50%. There exist an enormous amount of discrepancies in PPE account balances which result to inaccurate...