COA raises flag on 'validity' of Davao City's ₱9.48B assets, 'legality' of ₱1.32-B COVID procurements
endIndex: Metro Manila (CNN Philippines, May 6) — State auditors flagged the government of Davao City for the questionable existence of assets amounting to ₱9.48 billion, as well as the legality of its purchases for COVID-19 response, according to a 2020 audit report. In a report on Davao City dated February 28, the Commission on Audit gave a "qualified opinion" on the city government's financial statements. This means that while the Davao City government's financial reports were fairly presented, the auditor noted its failure to provide adequate disclosures on its property, plan, and eq...
Source: cnnphilippines.com