The Pag-IBIG Fund has received another ‘Unmodified Opinion’ from the
Commission on Audit (COA) for the 12th consecutive year, top officials
announced today, 16 July 2024.
In a letter dated 21 June 2024, state auditors informed the agency that it has rendered an unmodified opinion on the fairness of the presentation of Pag-IBIG Fund’s financial statements for 2023.
“This recognition from the COA, which Pag-IBIG Fund has earned for the
12th consecutive year, is a result of Pag-IBIG Fund’s commitment towards
excellence and integrity in managing our members’ funds. We stay true to
our mandate of providing secured savings and shelter financing in line
with the directive of President Ferdinand Marcos, Jr. of providing means
for Filipinos to achieve a better quality of life,” said Secretary Jose Rizalino
L. Acuzar, head of the Department of Human Settlements and Urban
Development and Chairman of the 11-member Pag-IBIG Fund Board of
Trustees.
Pag-IBIG Fund received COA’s ‘unqualified opinion’ from 2012 to 2017
and ‘unmodified opinions’ from 2018 to 2023. *Both unqualified and
unmodified opinions indicate that the financial statement of a government
agency or corporation is presented, in all material respects, in accordance
with applicable financial reporting frameworks.*
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta highlighted the
state auditor’s findings as a reflection of the agency’s notable performance
in 2023.
“Pag-IBIG Fund achieved several milestones in 2023. Our financial
standing remains strong, as we concluded 2023 with a record-high net
income before MP2 returns of P49.79 billion. Pag-IBIG Fund also surpassed
its housing records by releasing a total of P126.04 billion in housing loan
takeouts, the highest home loans released during a single year in its 43-
year history. This helped 96,848 members acquire new or better homes.
Membership savings collection also reached a record high, with
membership savings collections amounting to P89.26 billion. *All these
enabled Pag-IBIG Fund to declare P48.76 billion in dividends, which was
distributed to its members as earnings on their savings for said year—
highest in the history of Pag-IBIG Fund,” Acosta said.*
“Earning the ‘unmodified opinion’ for the 12th consecutive year further
signifies how we were able to achieve our best performance while
maintaining the highest standards of financial integrity. Our members and
stakeholders can rest assured that we will remain their reliable partner and
that we will continue to serve them with Tapat na Serbisyo, Mula sa Puso,”
Acosta added.
