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The Commission on Audit, led by Team Leader Atty. Jan Florenz M. Quimson and joined by fellow state auditors Marlon Ramon Raneses and Dhayana Bustillo, conducted its Entrance Conference for the Institute for Labor Studies on 22 November 2022 held at the ILS Meeting Room.

In full attendance were the ILS top management and unit heads led by its OIC-Executive Director Jeanette T. Damo and Deputy Executive Director Mary Grace L. Riguer.

The COA Entrance Conference started with the presentation of the objectives of the audit to be conducted for the year, on top of which is to enable the COA Team to express an audit opinion and ascertain whether the Institute’s financial statements are fairly presented, in all material respects, in accordance with International Public Sector Accounting Standards (IPSAS). The audit team also communicated to the whether internal controls are operating effectively to provide reasonable assurance that misstatements, losses, or non-compliance would be reported in a timely basis. Audit Team Leader Quimson further explained that the agency will also be informed of their audit findings or tests of compliance with selected provisions of laws and regulations covering budgets and accountability issues, and details of audit suspensions, charges and disallowances.

The COA Team also reminded the Institute of its responsibility of preparing and ensuring the fair presentation of its financial statements, including the availability of its records and reports.

The COA Exit Conference for the Institute is tentatively scheduled on15 March 2023.