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October 15, 2026
The University of Southern Mindanao (USM) and the Commission on Audit (COA) reviewed audit priorities, compliance requirements, and the status of previous audit recommendations during an entrance conference on October 15, 2026, at the University Boardroom, Administration Building, USM, Kabacan, Cotabato.
Attending the conference were Region XII Supervising Auditor Orlando C. Matas, State Auditor V; Resident Auditor Cabiba Mamaganding, State Auditor IV; and audit team members Claudenne Steffanie Castillo and Ambolina Mimbala.
The conference covered the review of previous audit observations, the implementation of recommendations, the preparation and timely submission of financial statements, and the University’s compliance with government accounting and auditing rules.
Auditor Matas explained that the conference gives COA and the University an opportunity to discuss outstanding audit observations and determine which recommendations have already been implemented. He also encouraged University offices to consult COA whenever they encounter issues concerning government rules and procedures.
“Magkaiba man ang ating functions and mandates, nagwo-work out pa rin tayo sa transparency, accountability, and responsibilities sa mga ginagawa natin. As public servants, we should always have in our mind that it is for the common good. We are here to support. Let us maintain the harmony,” he said.
The audit also covers the preparation and fair presentation of the University’s financial statements in accordance with the applicable Philippine Financial Reporting Standards (PFRS) and their submission within COA-prescribed deadlines. These statements include the Statement of Financial Position, Statement of Comprehensive Income, Statement of Cash Flows, Statement of Changes in Equity, and Notes to Financial Statements.
Another area of concern is the preparation and implementation of the Land Use Development and Infrastructure Plan (LUDIP) for state universities and colleges (SUCs).
Financial Management Services Director Associate Professor Jay-R G. Vildac, DBA, said the conference helps the University determine the areas that the audit team will examine to be able to prepare the necessary documents.
“Importante talaga ito for USM para alam natin kung ano ang coverage ng audit. Although, dapat kahit hindi natin alam kung ano ang mga specific na i-audit nila, dapat holistic, dapat maayos ang implementation natin,” Director Vildac said.
He added that understanding the audit priorities helps the University check its compliance with COA rules and applicable laws to prevent notices of disallowance and other audit findings.
USM assured COA of its cooperation in providing the required documents, supporting the audit process, and its commitment in ensuring that government funds are used for their intended purposes.
The conference reaffirmed the importance of coordination between USM and COA in promoting transparency, accountability, and proper management of public resources.
