Liloan earns highest COA audit rating anew

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THE Municipality of Liloan, Cebu has earned the highest audit rating from the Commission on Audit (COA) for the fourth time since 2017, Liloan City Mayor Christina Garcia Frasco announced.

The COA granted an “Unmodified Opinion” to the Local Government of Liloan per examination of its 2021 Financial Statements.

This was relayed to Frasco in a letter signed by COA State Auditor Arcel M. De Arca transmitting its Independent Auditor’s Report.

Under the International Standards of Supreme Audit Institutions, auditors issue an unqualified or unmodified opinion when they conclude that financial statements, as a whole, are free from material misstatements, which could arise from either fraud or error.

With Frasco at the helm of the local government, COA has given its highest audit rating four times, with Liloan earning an unqualified opinion in 2017, 2019, 2020 and unmodified opinion in 2021.

Frasco, who received the COA letter on May 27, said in a statement, “Our local government has faced immense challenges, from the pandemic to Typhoon Odette, but we have never wavered in our commitment to serve the people of Liloan with transparency and accountability.

"I am grateful that by the dedication and hard work of our team in Liloan, COA has affirmed for the fourth time our administration’s efforts to govern with integrity with the people’s welfare always paramount,” she added. (PR)

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