Pag-IBIG Fund has earned the Commission on Audit’s (COA) highest audit rating for the ninth consecutive year even amid the pandemic, the agency said in a statement.
In a letter dated July 29, COA informed the agency that it has rendered an unmodified opinion — its highest rating – on the fairness of the presentation of Pag-IBIG Fund’s financial statements for the year 2020.
From 2012 to 2017, Pag-IBIG Fund earned COA’s unqualified opinion and from 2018 to 2020, it has gained its unmodified opinion. Auditors use both the unqualified opinion and unmodified opinion, which are the highest ratings that COA gives to a government agency or corporation, to mean that the financial statements of an agency are presented, in all material respects, in accordance with applicable financial reporting frameworks.
Pag-IBIG Fund chief executive officer Acmad Rizaldy Moti said the agency made sure that all requisite processes were strictly followed ensuring that all were above-board prior to implementation.
In 2020, Pag-IBIG Fund aided 4.8 million borrowers by automatically providing them with grace periods totaling 6 months in accordance with the Bayanihan I and II Acts.
A P10-billion home construction fund was made available to accredited developers to encourage production and boost supply of housing units.
