The Commission on Audit (CoA) and the World Bank held a meeting on Oct. 23, 2024 to forge stronger collaboration in enhancing accountability processes in government and showcasing the CoA’s best audit practices globally.
CoA Chairperson Gamaliel A. Cordoba led the CoA delegation in a meeting with World Bank senior financial management specialists led by Patrick Piker Umah Tete. Chairperson Cordoba said he was looking forward to stronger collaboration with the World Bank especially in the area of digitalization in the conduct of audit. CoA Assistant Commissioners Alexander B. Juliano, Adela L. Dondonilla, Roy L. Ursal and Lito Q. Martin and Director Haide T. Espuelas also participated.
The World Bank acknowledged the CoA’s excellent audit work and noted that as a Supreme Audit Institution, the CoA is leading globally especially with the uniqueness of its Citizen Participatory Audit (CPA) program.
The World Bank wishes to reengage with the CoA to see how the CPA has evolved after being institutionalized and how it limits risk exposure and enhance accountability.
The World Bank and the CoA will also work together to improve audit of World Bank-funded projects, boost internal audit functions across government and other Accounting and Auditing reform initiatives under the Public Financial Management Reform Roadmap.
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.
Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.
