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Date Posted: 19:34:33 10/18/03 Sat
Author: scavenger
Subject: RSC MEMO 1999 (COA)

Republic of the Philippines
COMMISSION ON AUDIT
Regional Office No. IV
Office of the Auditor
Romblon State College
Odiongan, Romblon

February 2, 2000

MEMORANDUM for �

The Honorable Chairman
Thru: The Director
Regional Office No. IV
Commission on Audit
Quezon City

We have conducted a financial and compliance audit of the accounts and operations of the Romblon State College, Odiongan, Romblon for the year ended December 31, 1999 pursuant to Section 2 Article IX-D of the Philippine Constitution and Section 43 of Presidential Decree No. 1445, otherwise known as the �Government Auditing Code of the Philippines�.

The audit was made in accordance with generally accepted auditing standards, laws and regulations and accordingly included such test of accounting records and such other auditing procedures as we considered necessary under the circumstances.

The report consists of five parts. Part I gives the agency background; Part II presents the Results of Financial Statements Audit; Part III discusses the Findings and Recommendations; Part IV presents the Status of Implementation by the Auditee of Prior Years� Audit Recommendations; and Part V consist of Annexes.

We rendered a qualified opinion on the fairness of presentation of financial statements of the Romblon State College as the validity, existence and condition of the recorded Furniture, Fixtures, Equipment, Books and Work Animals totalling P14,100,284 cannot be ascertained due to lack of physical inventory report as of December 31, 1999.

We discussed our findings and recommendations with concerned officials of the College on January 12, 2000 and we are glad to note their favorable reaction to our comments and recommendations.

We acknowledge the cooperation extended to us by the Officers-In-Charge, the Accounting Unit and the Cashier whose assistance and support made the submission of this report possible.

GIL T. JAVIER
State Auditor III
Unit Head

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