Quezon City: The Philippine Space Agency (PhilSA) received an unmodified opinion from the Commission on Audit (COA) for its 2024 financial statements, signifying that these were presented fairly and following the International Public Sector Accounting Standards (IPSAS), the agency announced on Monday.

According to Philippines News Agency, COA's unmodified opinion is an affirmation of PhilSA's commitment to transparency, accountability, and sound financial management. The report stated, "In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the PhilSA as at December 31, 2024, and its financial performance, cash flows, changes in net assets/equity, and comparison of budget and actual amounts for the year then ended, and notes to financial statements, including a summary of significant accounting policies in accordance with IPSAS."

PhilSA noted that the annual audit also assessed the implementation of the previous year's audit recommendations and aimed to identify areas for continued improvement. The annual audit report was presented to PhilSA Director General Joel Joseph Marciano Jr. last May 28 at the PhilSA office in Quezon City.

This marks the fifth consecutive year that PhilSA has received an unmodified opinion from COA, reflecting the agency's dedication to good governance as it utilizes space science and technology applications programs, products, and services for the country's development.