Pag-IBIG Fund has earned the Commission on Audit’s highest audit rating on the
presentation of its financial statements for the 11th consecutive year, top officials
announced on Monday (July 03).
State auditors, in a letter dated June 22, informed Pag-IBIG Fund that it has rendered an
unmodified opinion on the fairness of the presentation of its financial statements for the
years 2021 and 2022. In the same letter, COA upgraded its prior issued modified opinion
on the agency’s books for the year 2021, after Pag-IBIG Fund enhanced its data
migration system following the state auditors’ recommendations. These developments
have enabled the agency to maintain its streak of garnering COA’s highest audit rating
for the 11th straight year.
“This is truly a significant milestone in Pag-IBIG Fund’s history. Earning the highest
opinion from COA for the 11th consecutive year is yet another proof that Pag-IBIG Fund
has been, and continues to be, managed properly. This is a testament to how Pag-IBIG
Fund upholds excellence and integrity in managing their funds, in the fulfillment of our
mandates and in line with the directive of President Marcos of providing Filipinos with
more stable and more prosperous lives,” said Secretary Jose Rizalino L. Acuzar, who
heads the Department of Human Settlements and Urban Development and the 11-
member Pag-IBIG Fund Board of Trustees.
COA rendered unqualified opinions on Pag-IBIG Fund’s financial statements from 2012
to 2017 and unmodified opinions for the years 2018 to 2022. Auditors use both
unqualified and unmodified opinions, which are the highest opinions that COA can give
to a government agency or corporation, to mean that the financial statements of a
company or agency are presented, in all material respects, in accordance with applicable
financial reporting frameworks.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, emphasized the
value of the state auditor’s findings citing that these fittingly complete the agency’s best
performing year of 2022.
“The year 2022 stands out as our best performing year yet, as we posted our highest
ever annual net income of P44.50 billion. We also posted record-highs in home loan
takeout worth P117.85 billion which benefitted 105,212 members who now have new or
better homes, membership savings collections amounting to P79.90 billion and loan
payment collections worth P127.42 billion. We also extended P53.76 billion in short-term
loans to aid a record-high 2,612,491 members with their financial needs. In the same
year, we also launched service innovations such as the Virtual Pag-IBIG Mobile App and
the Lingkod Pag-IBIG On Wheels, which now provide our members better access to our
services and benefits.” Acosta said.
“With our 2022 performance capped by this unmodified opinion from COA, this shows
that we have achieved our best performance ever while maintaining the highest
standards of financial integrity. This is what our members and stakeholders can expect
from us, that we shall remain transparent in our operations and serve them with
excellence and integrity,” Acosta added.
