Commission on Audit's Unmodified Opinion on the Office of the Vice President: A Political Vindication?

The Commission on Audit (COA), the supreme audit institution of the Philippines, has released its independent auditor’s report on the financial statements of the Office of the Vice President (OVP) for the fiscal year ending December 31, 2023. The findings are clear: an unmodified opinion, confirming that the OVP’s financial statements fairly present its financial position in accordance with International Public Sector Accounting Standards (IPSASs).

Breakdown of the COA Report

Key Elements:

1. Header:

• The COA logo prominently displayed.

• Official name: Commission on Audit, Republic of the Philippines.

• Address: Commonwealth Avenue, Quezon City.

• Title: INDEPENDENT AUDITOR’S REPORT.

2. Addressee:

• The report is addressed to "The Honorable Vice President, Republic of the Philippines" with the specific address of the Office of the Vice President included.

Opinion Section:

• The subject of the audit is the financial statements of the OVP as of December 31, 2023.

• The audit encompasses key financial documents, including:

  • Statement of financial position

  • Statement of financial performance

  • Statement of cash flows

  • Statement of changes in net assets/equity

  • Statement of comparison of budget and actual amounts

  • Notes to the financial statements

• Auditor’s Opinion:

  • "In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of OVP as at December 31, 2023, and its financial performance..."

  • This means that the COA has found no significant errors, misstatements, or discrepancies, ensuring compliance with IPSASs.

Basis for Unmodified Opinion:

• Standards Used:

  • The audit was conducted in accordance with the International Standards of Supreme Audit Institutions (ISSAIs).

• Ethical Compliance:

  • The audit adhered to the Revised Code of Conduct and Ethical Standards for Commission on Audit Officials and Employees.

• Sufficient and Appropriate Evidence:

  • COA auditors affirm that they obtained adequate evidence to support their conclusions.

What This Means for the OVP

The COA’s unmodified opinion is a significant and favorable assessment of the OVP’s financial management. Here’s what it implies:

1. Financial Transparency and Accountability

   • The OVP's records accurately reflect its financial position, showing responsible management of public funds.

2. Compliance with Global Standards

   • The OVP adheres to IPSASs, ensuring financial reporting meets international best practices.

3. Enhanced Credibility and Public Trust

   • An unmodified opinion bolsters the institution’s credibility, fostering trust among the public, government agencies, and stakeholders.

4. Positive Public Perception

   • This report reinforces the OVP’s reputation for responsible financial stewardship.

5. Facilitates Future Transactions

   • Clean financial statements can attract potential partners and streamline government transactions.

6. No Material Misstatements

   • The absence of material misstatements confirms that the OVP’s financial reporting is accurate and free from major discrepancies.

Political Implications: The Marcos-Romualdez Playbook at Work?

The COA report arrives at a time when the OVP is facing political turmoil. The Marcos-Romualdez political machinery has been relentless in its attempts to undermine Vice President Sara Duterte. The House of Representatives, led by Speaker Martin Romualdez—President Ferdinand Marcos Jr.'s cousin—has been positioning an impeachment narrative against her. But with an unmodified COA report, what justification remains for such political maneuvering?

The Real Motive: Political Elimination

Let’s be clear: an unmodified opinion from the COA effectively negates any claim of financial mismanagement against the OVP. If corruption or misallocation of funds were truly an issue, the COA would have flagged discrepancies. Instead, this audit report paints a picture of sound financial management.

This raises serious questions about the motives behind the impeachment efforts. Is this truly about accountability, or is it a calculated move to eliminate a political rival?

A Pattern of Power Consolidation

The Marcos administration has a vested interest in neutralizing perceived threats. With the 2028 presidential elections on the horizon, removing Vice President Duterte from the political landscape would clear the way for Marcos Jr.’s preferred successor. The same tactics were used in the past—dismantling opposition figures through legal and political means rather than engaging in fair democratic competition.

Conclusion: Weaponizing Impeachment for Political Gain

The COA’s unmodified opinion leaves no doubt: the OVP has managed its finances responsibly. The impeachment threats against the Vice President, then, appear to be nothing more than a political ploy orchestrated by Marcos Jr. and Romualdez to eliminate a formidable opponent. The Filipino people deserve governance based on transparency and accountability—not power plays masquerading as legitimate oversight.

If the administration is truly committed to accountability, it should subject all government offices—including the Office of the President and Congress—to the same level of scrutiny. Until then, the public must remain vigilant against political machinations designed to serve personal and dynastic interests rather than the interests of the nation.