CHED earns clean audit for second year straight: reforms, transparency cited
The Commission on Higher Education (CHED) earned a clean audit report for the second consecutive year. The Commission on Audit (COA), a government watchdog, issued an “unqualified opinion” on CHED’s financial statements for 2023.
CHED attributed the positive outcome to its ongoing efforts to improve fiscal responsibility. This marks the second year in a row that CHED has achieved this positive outcome.
“When I assumed CHED chairmanship in 2018, I initiated serious fiscal accountability reforms which positively impacted our audit rating manifested in our first unqualified opinion from COA for our financial statement in 2022,” said CHED Chairperson J. Prospero de Vera III in a statement.
“In 2023, we continued to implement reforms, including increasing our disbursement rate and complying with the shift to cash-based budgeting,” he added.
De Vera explained that cash-based budgeting requires the agency to spend only the funds it has on hand, improving financial discipline.
He added that CHED is also closely monitoring its regional offices to ensure proper financial practices.
Transparency was another key factor in CHED’s clean audit. The commission streamlined documentation and account reporting systems for universities and colleges.
Institutions must now clear all outstanding funds before applying for new grants.
“The Commission has improved documentation and account reporting systems for higher education institutions (HEIs) by clearing unliquidated funds before they apply for project grants,” according to the statement.
De Vera emphasized CHED’s commitment to accountability. “CHED recognizes the vital role of COA and acts on its audit observations promptly,” he said.
The commission is also implementing stricter procurement processes to prevent misuse of public funds.
This clean audit rating is a positive sign for Philippine higher education. It suggests that CHED is managing public funds efficiently and transparently.
