The National Conciliation Mediation Board (NCMB) has received another recognition from the Commission on Audit (COA) on the fairness in the presentation of its financial statements for FY 2022.

This is the fourth consecutive year that the NCMB has received an unmodified 

opinion. NCMB Executive Director Maria Teresita D. Lacsamana-Cancio received COA’s recognition contained in the Independent Auditor’s Report. “This is a testament of the Board’s prudent management of public funds and transparent public service,” Executive Director Lacsamana- Cancio said.

Unmodified Opinion    (also referred to as ‘Unqualified Opinion’) is issued when the auditor concludes that financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework.

Based on the COA’s annual audit report, it has conducted its audit in accordance with the International Standards of Supreme Audit Institutions (ISSAIs) to ascertain the level of assurance that may be placed on the management’s assertions on the financial statements, determine the propriety of transactions as well as the extent of compliance with applicable laws, rules, and regulations, and determine the extent of the implementation of prior years’ audit recommendations.

With this achievement, NCMB Executive Director Lacsamana-Cancio acknowledged the Board’s Officials and Employees, specifically its Financial Management Team in the Central Office and Regional Branches for their diligence and strict adherence to existing accounting and auditing rules and regulations.

The NCMB is proud of its four-year record of unmodified opinions from the COA, as this demonstrates its unwavering commitment to accountability, transparency, good governance, and responsible stewardship of public resources albeit its small workforce.

END/ Millyscent Taggueg