TAGUIG CITY, May 15 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.
Published May 14, 2021, 12:13 PM
The Intellectual Property Office of the Philippines (IPOPHL) received from the Commission on Audit (COA) an “unqualified/unmodified opinion” for its financial records last year, its 8th year for 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.
The Intellectual Property Office of the Philippines was among many businesses forced to operate under the country’s enhanced community quarantine measures during the pandemic. Rowel Barba, director general, explains how the office managed and where the future lies
SunStar
+ May 13, 2021 MICRO, small and medium enterprises (MSMEs) should look into investing in intellectual property (IP) protection as they grow their businesses and expand their markets in the era of e-commerce, as not giving this priority could have unfortunate consequences.
Carissa Cruz-Evangelista, founder-member of the Philippine Fashion Coalition, advised MSMEs to earmark some budget for IP protection and register their brands.
Speaking in a webinar, she noted that IP protection often takes a back seat to companies’ other priorities like staff salaries and product marketing and development.
“But now with e-commerce on the rise we also have the threat of more counterfeiting and we need to have an IP protection budget both for smaller and bigger brands,” Evangelista said.
TAGUIG CITY, May 9 Strong enforcement measures have kept the Philippines out of the United States (US) watchlist, which flags countries with pressing concerns in intellectual property (IP) rights protection, while also successfully eliminating an allegation raised since 2019.
“We welcome the country’s continued exclusion from the US Trade Representative s (USTR) Special 301 Report, an achievement since 2014 that helps promote the Philippines as a vibrant investment place for US and other foreign businesses, Intellectual Property Office of the Philippines (IPOPHL) Director General Rowel S. Barba said. Most especially, we are pleased with the removal of the erroneous finding that our own government uses unlicensed software, a claim which we have repeatedly disproved,” Barba added.