COA conducts entrance conference with SHFC

Published on 10 October 2024

The Commission on Audit (COA) held an entrance conference with the Social Housing Finance Corporation (SHFC) on Thursday at the SHFC Board Room, aimed at aligning expectations regarding the upcoming 2024 audit process.

The audit team, led by Officer-in-Charge Supervising Auditor Atty. Fausto Villanueva Jr., outlined the audit’s scope, management responsibilities, and key deliverables, which include a thorough examination of SHFC’s financial statements, the evaluation of its internal controls, and the assessment of the agency’s compliance with government regulations.

Executive Vice President Atty. Junefe Payot, on behalf of President and CEO Federico Laxa, pledged full cooperation with the audit team and emphasized SHFC’s commitment to transparency, accountability, and the efficient use of public funds.

Payot also underscored the importance of the audit while expressing optimism for achieving an unmodified opinion, which reflects the organization’s adherence to sound financial practices.