The Commission on Audit (COA) gave UP Mindanao a “Very Satisfactory” rating following its audit of UP Mindanao for the period January to December 31, 2024. The rating was contained in the Financial Management Performance Rating (FMPR) signed by Supervising Auditor Helena L. Valdez and COA-XI Regional Director Alfredo G. Largo.
Under the section “Group Assessment of the Agency’s Financial Management Performance,” was the statement, “We are giving a joint performance score of 87% (Very Satisfactory).”
The FMPR covered the following areas: Reliability of financial information, Adequacy of internal control, and Compliance with the Management Representation in the Engagement Letter. The audit also rated the following performance areas: Adjustments required by the Auditor, Audit observations and recommendations, and Quality of financial statements furnished for audit.
The COA Audit Team further stated, “In view of the Specific Audit Instructions on the conduct of the financial and compliance audits for Calendar Year 2024, we recommend an Unqualified Opinion be rendered on the fairness of presentation of the financial statements for the year then ended.” An Unqualified Opinion, in audit terms, indicates the auditor found no significant issues or material misstatements in an entity’s financial statements. In the case of UP Mindanao, it was the single most significant contributor to the performance score.
Mr. Leopoldo R. Ordiz, Audit Team Leader for UP Mindanao, transmitted the FMPR to UP Mindanao Chancellor Lyre Anni E. Murao at the COA Entrance Conference in UP Mindanao on August 20, 2025.
Chancellor Lyre Anni Murao and her administration team welcomed the rating, particularly for Chief Accountant Zenaida G.Calatrava, who was present at the Entrance Conference. “It is an achievement for the Accounting Office,” said Chief Accountant Calatrava.
On the same occasion, Auditor Ordiz delivered the Agency Engagement Letter for the upcoming audit of UP Mindanao’s financial statements for the period ending on December 31, 2025. He introduced his new audit team members, Ms. Gladys Myer C. Ebana and Phillip Roland E. Chew.
Chancellor Murao likewise welcomed the new COA Audit Team and its members, and expressed UPMin’s intention to extend full cooperation for the audit.