Published: 13 April 2016
The Commission on Audit (COA) successfully culminated the FY 2015 Harmonized Approach To Cash Transfer (HACT) Transitional Audit Exercise for the United Nations Development Programme (UNDP)-supported projects and programmes.
COA presented the highlights of the audit and audit opinion rendered on the financial reports at an audit debriefing held at the National Economic and Development Authority (NEDA) Boardroom in Pasig City on April 8, 2016.
The UNDP has sought the assistance of COA to provide annual audit services to UNDP supported projects and programmes. For the 2015 HACT Transitional Audit Exercise, audit teams focused on the areas of cash management, finance, asset management, procurement, general administration, human resource, assessment of the project’s internal control, and a general review of the project’s progress and timeliness in relation to progressed milestones and planned completion date.
Chairperson Michael G. Aguinaldo emphasized the valued partnership between UNDP and the COA while UNDP Country Director Titon Mitra welcomed the efforts of the audit teams in helping the UNDP ascertain the proper use of its resources.
As in the previous audits, COA is bound by the provisions of the Terms of Reference and guided by the UNDP Accounting Policies. In comparison with former UNDP audit exercises however, this present audit focused on the validation of almost 100% of the UNDP assets, exempting only those that are impractical to validate. COA Assistant Commissioner Susan P. Garcia is the Project Manager.
COA, UNDP, and NEDA officials with implementing partners consisting of various government agencies and intergovernmental/non-government organizations and COA audit teams attended the event. # – with report from Jennifer Andrea S. Imperial