Secretary Rosalinda Dimapilis-Baldoz yesterday commended the Institute for Labor Studies (ILS), the policy research and advocacy arm of the Department of Labor and Employment, for garnering an unqualified opinion from the Commission on Audit (COA) for its Fiscal Year 2014 financial report, and for garnering an award as 2014 Outstanding Accounting Office by the Association of Government Accountants of the Philippines (AGAP), Inc.
In a report submitted to Secretary Baldoz by ILS OIC-Executive Director Mary Grace Riguer, she said the attached agency has been given an unqualified opinion by COA for three years in a row, starting 2012.
The COA’s unqualified opinion is given when the auditor is satisfied in all material respects that the financial statements have been prepared using acceptable accounting bases and policies, which have been consistently applied; the statements comply with statutory requirements and relevant regulations; the view presented by the financial statements is consistent with the auditor’s knowledge of the audited entity; and there is adequate disclosure of all material matters relevant to the financial statements.
“ILS has steadily earned COA’s unqualified opinion – a true and fair reflection of the office’s financial condition, position, and operations,” OIC-Executive Director Riguer said.
The labor and employment chief was delighted to note that aside from ILS, other DOLE attached agencies, such as the Employees' Compensation Commission (ECC) and Occupational Safety and Health Center (OSCH), have also earned COA’s unqualified opinion for 2014.
Boosting the morale of ILS further, its Accounting Section was awarded the 2014 Outstanding Accounting Office by the Association of Government Accountants of the Philippines (AGAP), Inc. during the recognition rites held on 21 October at Aziza Paradise Hotel in Puerto Princesa City, Palawan.
The award is annually given to government agencies, through the recommendation of COA, based on the quality, timeliness, and accuracy of financial reports.
Other national agencies that received the same distinction were the National Youth Commission, Parole and Probation Administration, Office of the Government Corporate Counsel, Advanced Science & Technology Institute, Science Education Institute, Nueva Ecija University of Science & Technology, University of Rizal System, Mindanao University of Science & Technology, and Isabela State University.
Founded in 1953, AGAP is an association that promotes the interests of government accountants and the efficient practice of government accountancy.
The labor and employment chief, in commending the ILS, reiterated her call for all DOLE offices to work together to maintain the Department’s compliance to good governance anchored on the reforms of President Benigno S. Aquino III’s administration on integrity, transparency, and accountability in all external and internal government services and transactions.
The Institute for Labor Studies (ILS) is the policy research and advocacy arm of the Department of Labor and Employment. For more information about ILS products and services, please visit: http://ilsdole.gov.ph or call Advocacy and Publications Division at tel.no. 527-3490.
END/aldm/with a report from the Institute for Labor Studies