The Overseas Workers Welfare Administration (OWWA) on Wednesday welcomed the highest audit rating given by the Commission on Audit (COA) on its expenditures amounting to P8.9 billion last year.
Administrator Hans Leo Cacdac acknowledged the efforts of OWWA personnel in the submission of reports on their expenditures for fiscal year (FY) 2020.
“Glad to report that the Commission on Audit gave the OWWA an Unqualified Opinion (regarding) the COA Audit of P8.9-billion expenditures for FY 2020. Credit goes to our finance teams, especially our front-liners who pour over thousands upon thousands of billings and statements of account,” he said in a Twitter post.
In its 2020 audit report, the COA said it has audited the agency’s consolidated financial statements which consist of the Consolidated Statement of Financial Position as of Dec. 31, 2020, the Consolidated Statement of Changes in Net Assets/Equity, Consolidated Statement of Cash Flows and Statement of Comparison of Budget and Actual Amounts for the year, and Notes to Consolidated Financial Statements, including a summary of significant accounting policies and explanatory information.
“In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of the OWWA, as of December 31, 2020, and its consolidated financial performance, consolidated changes in net assets/equity, consolidated cash flows, comparison of budget and actual amounts, and notes to consolidated financial statements for the year then ended in accordance with the International Public Sector Accounting Standards (IPSASs) with corresponding Philippine Application Guidance (PAG),” the report added.
Since the start of the coronavirus pandemic, OWWA, an attached agency of the Department of Labor and Employment (DOLE), has been providing various forms of assistance to displaced OFWs who have been repatriated to the country.
A one-time cash aid of P10,000 is given to displaced OFWs through the Abot Kamay ang Pagtulong Program (AKAP).
Under Project EASE (Educational Assistance through Scholarship in Emergencies), the OWWA also provides educational assistance to qualified dependents of OFWs whose employment was affected by the pandemic.
In May, President Rodrigo Duterte approved the release of another P5.2 billion for the continuing repatriation and quarantine expenses of OFWs.