The Commission on Audit (COA) has issued an unmodified opinion on the 2025 financial statements of the Office of the Vice President (OVP), indicating that the agency’s financial reports were fairly presented and complied with applicable government accounting standards.
In an audit report dated May 15 and transmitted to the OVP in June, the state auditor said it examined the office’s statement of financial position, financial performance, cash flows, changes in net assets or equity, budget versus actual expenditures, and accompanying notes for the fiscal year ending December 31, 2025.
“We have audited the accompanying financial statements of the Office of the Vice President (OVP),” COA said, adding that the documents were prepared in accordance with the International Public Sector Accounting Standards (IPSASs).
“In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of OVP as at December 31, 2025, and its financial performance, cash flows, changes in net assets/equity, and comparison of budget and actual amounts for the year then ended,” the audit report stated.
COA also said the audit evidence it obtained was “sufficient and appropriate” to support its opinion.
According to the OVP, the office utilized 92.32 percent of its 2025 budget, which it said reflected “prudent fiscal management despite expanded operations and increasing demand for its public service programs.”
The office also noted that the unmodified opinion marked its fourth consecutive favorable audit opinion from COA, saying it demonstrates its commitment to transparency, accountability, and responsible management of public funds.
However, COA has previously clarified that an unmodified opinion should not be interpreted as a rating or certification of an agency’s overall performance.
In a 2022 statement, the commission emphasized that an audit opinion pertains only to whether financial statements were prepared in accordance with the applicable financial reporting framework.
“It is important to note that the financial statements represent only a facet of an agency,” COA said.
The commission added that an audit opinion “does not provide any conclusions on the agency’s level of compliance with laws, rules and regulations, nor the application of the principles of economy, efficiency, and effectiveness in the agency’s operations.”
COA explained that compliance with laws and government spending regulations is assessed separately through compliance and performance audits conducted in addition to financial audits.
The issuance of the audit opinion comes ahead of the impeachment trial of Vice President Sara Duterte, who is facing allegations that include the alleged misuse of millions of pesos in confidential and intelligence funds, among other impeachable offenses.
