Why do we need an Accounting Guide?

Republic Act (RA) No. 10121 more popularly known as the "Philippine Disaster Risk Reduction and Management Act of 2010" aims to strengthen the governance framework for National Disaster Risk Reduction and Management (NDRRM) and institutionalize the NDRRM Plan. The enactment of the law demonstrates the importance given by the Government to mainstream DRRM in the development processes to better prepare for and lessen the impact of deadly and costly natural and man-made hazards/disasters with the goal of promoting sustainable socio-economic growth.

The COA, through its constitutionally mandated duty of promulgating accounting and auditing rules and regulations, formulated this Accounting and Reporting Guidelines to achieve better quality financial reports and availability of information in the receipt and utilization of NDRRMF, disaster relief aid/donations in cash and in-kind, and the funds allocated from the agency regular budget for DRRM program.