In an entrance meeting held at the Multi-purpose Hall of DMMMSU Open University System on October 12, 2020, the Commission on Audit (COA) through the audit team conversed with the top management concerning their audit engagements.
The audit team was composed of their audit team leader, Ms. Marilyn D. Naraval, and team members namely, Ms. Jenalyn D. Nabua, Ms. Lucele P. Gacayan, and Ms. Maricon V. Aspiras.
During the said meeting which was attended in by the University President, the four Vice Presidents, the Heads of various units, Legal Officers, Finance Officers, and Internal Auditors of the University the team presented and discussed the following:
- Legal bases,
- Audit objectives,
- Auditor’s responsibilities,
- Audit limitations,
- DMMMSU’s responsibilities,
- Audit scope,
- Needed assistance from management,
- Use and reproduction of audit reports, and
- Audit timelines.
In his message, President Jaime I. Manuel, Jr. expressed support of the audit activities of the team. He expressed appreciation of the regulatory function of COA. He encouraged cooperation from the heads of units and from the finance officers with the audit team. “Let us open communication with COA and consult with them about financial matters in the University.”
Also, he highlighted the critical role of the internal auditors of the University. He encouraged them to “function without fear and favor (impartiality)”. “Issue a clear audit report,” he further emphasized.
After the discussions about various financial matters, Ms. Naraval thanked the President for his expression of support, more especially for encouraging the internal auditors whom she calls as alter-ego of the President to execute their roles well. (Ayu)