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20 June 2024, 08:15 AM

BOC Receives Highest Evaluation from COA for ensuring accurate and fraud-free Financial Statements

July 14, 2023

The Bureau of Customs (BOC) has received an Unmodified Opinion, also known as an Unqualified Opinion, on its Financial Statements. This is the highest evaluation granted by the Commission on Audit (COA) to government agencies, indicating strong internal controls and ensuring the accuracy and integrity of the Financial Statements. This recognition demonstrates the BOC’s full compliance with the International Public Sector Accounting Standards.

Commissioner Bienvenido Y. Rubio expressed his appreciation and commended the dedication and performance of BOC personnel. “After more than two decades, we have been recognized for our audit compliance,” proudly stated Commissioner Rubio.

Specific recognition was given to the Accounting Division of the Internal Administration Group (IAG), the Revenue Accounting Division of the Revenue Collection Monitoring Group (RCMG), and the Collection Districts for their diligent work. Their unwavering commitment and attention to detail have been instrumental in achieving this milestone.

Commissioner Rubio expressed gratitude to the COA auditors for their partnership in effecting meaningful change within the BOC. He acknowledged their Audit Observation Memoranda and audit findings, which have provided valuable guidance and served as reminders of the BOC’s responsibility for the proper management of public funds and resources.

The Bureau of Customs remains steadfast in upholding strong financial controls and delivering exceptional services to the public. This recognition from the COA reinforces the BOC’s unwavering commitment to transparency, accountability, and responsible stewardship of public resources.#

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