The Office of the Vice President (OVP) on Monday said the Commission on Audit (COA) found “no findings of loss or wastage of government funds or property” in its 2024 Annual Audit Report (AAR), emphasizing that all issues raised were “primarily administrative in nature.”
In its press statement, the OVP noted that COA issued an unmodified opinion on the fairness of its 2024 financial statements—“the highest level of assurance, meaning the financial statements are presented fairly in all material respects.” The office also underscored that there was “no finding of wrongdoing.”
The audit observations were discussed with OVP officials during an exit conference on May 16, 2025, with the agency saying it has agreed to implement all recommendations.
However, separate portions of the same COA report flagged several deficiencies in the OVP’s Mag Negosyo ’Ta Day (MTD) livelihood program.
From January to September 2024, the OVP released ₱3.42 million in cash assistance to 138 beneficiaries. But COA found that none of the business proposals were evaluated by the Department of Trade and Industry (DTI) or the Philippine Deposit Insurance Corp. (PDIC), despite program rules requiring their assessment. The OVP also had no written agreements with either agency detailing their roles in screening and endorsing proposals.
COA further pointed to vetting gaps, noting that eight beneficiaries lacked barangay certifications confirming they had no derogatory records.
Monitoring was also found insufficient: of 83 sampled beneficiaries, only 11 were visited within the required three-month period, while 14 were not visited at all. COA stressed that timely monitoring is critical to ensure seed money is used productively and to assess improvements in beneficiaries’ livelihoods.
COA also cited the delayed liquidation of ₱465,000 in aid for 31 individuals and ₱1.65 million for 11 NGOs and CSOs, with delays ranging from two to 154 days.
Despite these administrative findings, the OVP maintains that COA’s overall opinion confirms the agency’s responsible financial management, adding that all recommendations for the MTD program will be acted upon.
