IPOPHL maintains highest COA audit mark for eight years

May 14, 2021

The Intellectual Property Office of the Philippines (IPOPHL) once again received from the Commission on Audit (COA) an “unqualified/unmodified opinion” for its financial records last year, the best auditing mark which can only be achieved if an entity’s financial statements are free from “material misstatements.” 

COA’s Independent Auditor’s (IA) Report for IPOPHL covering fiscal year 2020 said the office’s financial statements “present fairly, in all material respects” that its financial position, financial performance, cash flows, changes in net assets/equity, comparison between budget and actual amounts for the year, and notes to financial statements are in accordance with International Public Sector Accounting Standards.

“Our continued receipt of COA’s unqualified opinion is testament to IPOPHL’s integrity and commitment to uphold transparency and accountability in all our financial activities, even in exceptional times as a pandemic,” IPOPHL Director General Rowel S. Barba said, noting the 2020 IA findings mark IPOPHL’s eighth year of obtaining the “unqualified/unmodified opinion” rating. 

“As COVID-19 put on hold several activities projects both in the public and private sectors, IPOPHL took this as an opportunity to maximize the digital space where we were able to reach a wider audience at a minimal cost, thereby, preventing the pandemic from derailing our momentum in furthering our mandate,” Barba said.

“Moving forward, we hope to fully utilize our budget especially as we augment efforts in supporting businesses, inventors and creators to recover through the protection of their intellectual property rights,” he added. 

COA’s annual audit ensures that government offices adhere to the highest standards of transparency, accountability, and good governance. The audit is conducted in accordance with the International Standards of Supreme Audit Institutions, the global auditing standards for entities in the public sector.### (Janina Lim, Media Relations Officer)



August 5, 2019 / Featured, News

Supreme Court and IPOPHL to work on speeding up disposal of IPR cases

Supreme Court and IPOPHL to work on speeding up disposal of IPR casesPublished on August 5, 2019The Intellectual Property Office...
Read More
BOI joins IPOPHL in Mind2Market push, mulls over incentivising IP rights holders with tax relief
August 1, 2019 / Featured, News

BOI joins IPOPHL in Mind2Market push, mulls over incentivising IP rights holders with tax relief

BOI joins IPOPHL in Mind2Market push, mulls over incentivising IP rights holders with tax reliefPublished on August 1, 2019The Board...
Read More
July 30, 2019 / Announcements, Featured

ANNOUNCEMENT: IPOPHL will be closed for a 3-day workshop

ANNOUNCEMENTPublished on July 30, 2019IPOPHL will be holding a three-day workshop with a series of activities focused on strengthening the...
Read More
July 27, 2019 / Featured, News, Press Release

Expanding innovation-fostering society drives PH’s 19-notch leap in 2019 GII ranking

Expanding innovation-fostering society drives PH's 19-notch leap in 2019 GII rankingPublished on July 27, 2019The Intellectual Property Office of the...
Read More