For the third straight year, DA-BFAR Bikol has once again received an “unqualified opinion” from the Commission on Audit (COA) for its 2022 annual audit report. This significant accomplishment highlights BFAR Bikol’s commitment to transparency, accountability, and sound financial management, setting a benchmark for effective governance and fiscal prudence within the agency.

In an independent auditor’s report, the COA rendered an “unqualified opinion” both for the regular and special project of BFAR Bikol for 2022. An unqualified opinion from COA signifies that the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework.

Receiving an unqualified COA opinion for three consecutive years is a testament to BFAR Bikol’s strong financial stewardship and adherence to rigorous financial controls.

Regional Director Ariel Pioquinto said that the COA opinion reflects the agency’s commitment to maintaining the highest standards of financial management and governance, instilling confidence in its stakeholders and the public, especially the fisherfolk.

“In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the BFAR Regional Office No. 5 as of December 31, 2022, and its financial performance, its cash flows, and its comparison of budget and actual amounts for the year then ended in accordance with International Public Sector Accounting Standards (IPSASs),” the COA report stated.

COA is the government agency responsible for ensuring the proper use of public funds and resources.