The Philippine Drug Enforcement Agency (PDEA) has obtained an “unmodified opinion” — the highest audit rating from the Commission on Audit (COA), citing the accuracy of its financial reports and records.

In a news release Monday, PDEA Director General Wilkins Villanueva said the COA commended the agency’s overall presentation, structure, and content of financial statements, including the disclosures and transactions for the year 2021, on the fairness of its presentation and devoid of material misstatements that may arise due to fraud or error.

“It is the highest audit opinion that the COA can render to a government agency. It means that all our financial records are in order and in accordance with their auditing rules and procedures,” Villanueva said.

In the independent report addressed to Director General Villanueva dated May 16, 2022, COA Supervising Auditor Cherrie Lou C. Arguilla, affirmed that the auditor rendered an “unmodified opinion” because the accompanying financial statements of PDEA were presented fairly and in accordance with the International Public Sector Accounting Standards (IPSASs).

“Having been IPSASs-compliant- a set of accounting standards that ranks among the best in the world, PDEA is truly a topnotch organization when it comes to the preparation of financial statements,” Villanueva said.

The COA said the audit evidence obtained based on the financial position of PDEA as of Dec. 31, 2021 comprising its statements of financial performance; cash flows; changes in net assets/equity; comparison of budget, and actual amounts for the year then ended; and notes to the financial statements, including a summary of significant accounting policies, is sufficient and appropriate to provide a basis for an “unmodified opinion”.

“The recognition is a true reflection of PDEA’s commitment to serve the public with the same core values ingrained in our cultural cornerstones: professionalism, dynamism, excellence, and accountability,” the PDEA chief said.

Villanueva thanked the PDEA-Financial Management Service (FMS) as well as the Logistics and Administrative Management Service for the preparation of the agency’s financial statements, in conformity with the applicable financial reporting framework of COA. (PNA)