Manila: Getting an 'unmodified opinion' from the Commission on Audit (COA) does not necessarily mean the Office of the Vice President (OVP) spent its funds correctly, Malaca±ang said on Friday.

According to Philippines News Agency, Palace Press Officer Claire Castro clarified during a press briefing that an unmodified opinion given by the COA pertains only to the financial statement presentation. Castro explained that it indicates compliance with the financial reporting framework and proper format but does not necessarily reflect the accuracy or appropriateness of fund usage.

Castro's statement followed the OVP receiving an 'unmodified opinion' from the COA for fiscal year 2024. This opinion, also known as an 'unqualified opinion,' is issued when a COA auditor finds that financial statements were prepared according to the applicable financial reporting framework.

Based on the COA's assessment, the financial statements fairly presented the OVP's financial position as of December 31, 2024. However, the COA emphasized that an unmodified opinion does not guarantee the absence of misstatements or uncorrected errors at the end of the year.

Castro further elaborated that correct reporting of fund use is distinct from the correct use of funds. She stated, "This does not prove that there are no anomalies. Correct reporting is one thing and correct use of funds is another," highlighting that the COA opinion does not cover 'compliance and performance audit.'