Ilocos Sur Polytechnic State College

ISPSC and COA hold entrance conference

Monday, September 23, 2024 Share to Friend Print a Copy

RDE Hall ISPSC Main—ISPSC and Commission on Audit (COA) held an entrance conference on September 23, 2024 to discuss the audit of the college’s financial transactions for the Calendar Year (CY) 2024.
The said endeavor is pursuant to Article IX-D, Section 2 of the 1987 Philippine Constitution, which mandates the COA to audit the financial performance of government institutions, ensuring transparency and accountability in public service.
The conference was attended by the COA team headed by Supervising Auditor Bermely C. Ramos, State Auditor IV Doris P. Singson, State Auditor I Josephine May C. Quiocho, and State Auditor Examiner II Adrian Adela.
Also, the OIC of the Office of the SUC President, Vice Presidents for Administration and Finance, Academic Affairs, and Research and Extension attended the said conference. Also present were the heads of various departments such as Accounting, Budget, Cashier, Human Resource Management, and Property.
The activity highlighted the discussions on the audit engagement terms: Audit Objectives, Audit Responsibilities, Agency Financial Management Performance, Audit Limitations, Agency Responsibilities, Assistance from management, Use and reproduction of COA Audit Reports, and Audit timelines.
The COA representatives emphasized the importance of complying with the audit requirements and reviewed the implementation status of the audit recommendations from the previous year, CY 2023. These recommendations aimed at improving the financial operations of the college.
The areas of concern identified by COA, particularly focusing on specific financial accounts that are significant to the 2024 audit, were also discussed. These concerns play a crucial role in guiding ISPSC to ensure the efficient management of public funds in accordance with government regulations.
The entrance conference marks the start of COA’s annual audit of ISPSC, which ensures that the college’s financial transactions comply with the laws, regulations, and standards set by the government.
As the audit progresses, ISPSC is poised to address any challenges and build on the recommendations from previous audits, further enhancing its financial governance.#
 

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