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) REPUBLIC OF THE PHILIPPINES
| ; COMMISSION ON AUDIT
LON Mey PROVINCIAL SATELLITE AUDITING OFFICE
a NEGROS ORIENTAL
E. J. Blanco Drive, Piapi, Dumaguete City
LOCAL GOVERNMENT AUDIT SECTOR
AUDIT GROUP LGAS — F, NEGROS ORIENTAL I
OFFICE OF THE SUPERVISING AUDITOR
June 26, 2025
HONORABLE EDGAR Z. TEVES, JR. RECEIVED MAYOR'S OFFICE
Municipal Mayor Date: Ol OS ime:_3 4G
Municipality of Valencia Signature:_f acy) 7
Province of Negros Oriental vemes Za) pata
Dear Mayor Teves:
We are pleased to transmit the Annual Audit Report (AAR) of the Municipality of Valencia for
the calendar year (CY) 2024 pursuant to Section 2, Article IX-D of the Philippine Constitution
and Section 43 of the Presidential Decree (PD) No. 1445, otherwise known as the Government
Auditing Code of the Philippines.
The audit was conducted to (a) ascertain the fairness of the presentation of the financial
statements; (b) ascertain the propriety of financial transactions and compliance with prescribed
rules and regulations; c) recommend agency improvement opportunities; and (d) determine the
extent of implementation of prior years’ audit recommendations.
We conducted the audit in accordance with applicable International Standards of Supreme Audit
Institutions (ISSAIs), and we believe that it provides a reasonable basis for our opinion.
We rendered a qualified opinion on the fairness of the presentation of the financial statements
(FS) for the year then ended.
The audit observations, together with the recommended courses of action, which were discussed
by the Audit Team with you and your staff in an exit conference on June 10, 2025, are discussed
in detail in Part II of the report. Likewise, Management’s comments are also incorporated in Part
II, where appropriate. The Status of Implementation of Prior Years’ Audit Recommendations is
discussed in Part III of this report.
