July 18, 2022 | 4:47 PM GMT+0800 Last Edit: July 18, 2022
The National Privacy Commission (NPC) has received an unmodified opinion (also referred to as unqualified opinion) from the Commission on Audit (COA) for the fair presentation of its financial statements for the Calendar Year 2021. The audit was conducted in accordance with the International Standards of Supreme Audit Institutions and covered the review of accounts and financial operations of the NPC.
On June 23, 2022, COA transmitted the Annual Audit Report on its unqualified opinion to the NPC. An unqualified opinion is issued when the Auditor concludes that financial statements are prepared in all material respects and in accordance with the applicable financial reporting framework.
“In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the National Privacy Commission as of December 31, 2021, and its financial performance, cash flows, changes in net asset/equity, and status of budget in relation to the actual amounts utilized/disbursed for the year then ended in accordance with the International Public Sector Accounting Standards (IPSAS),” COA Supervising Auditor Lea T. Petero said in the report.
Privacy Commissioner John Henry D. Naga welcomed the result of the audit and lauded the NPC workforce for their commitment and dedication in the proper management of public resources.
“Meriting an unqualified opinion from the Commission on Audit is proof of the NPC’s honest and transparent governance. Such is consistent with the Commission’s Quality Policy to perform with utmost integrity and to commit to regulatory requirements of public service,” Naga said.
“We, at the NPC, hope that the unqualified opinion from COA will instill public confidence and trust, not only in data privacy but also in the exercise of fiscal prudence in handling public funds. The credit goes to the NPC workforce for ensuring that public funds are efficiently utilized for the benefit of the Filipino people,” the Privacy Commissioner added.
“The NPC is an enabler and a protector, not only regarding data privacy but also in its solemn obligation to use public funds for public benefit. The NPC gives its assurance that it will continue to improve its fund utilization through consistent review, assessment, and implementation of its quality management systems,” NPC Executive Director Ivin Ronald D.M. Alzona said.
In addition to COA’s assessment, the NPC also received the International Organization for Standardization (ISO) 9001:2015 certification in December 2021, for the implementation of a quality management system. These are a testament to the integrity of the NPC in its endeavor to be a world-class regulatory and enforcement agency.