D. COMMISION ON
commision on audit has a power
, authority and duty ;the concept of
examination , auditing and
settlement of accounts.
Power and Functions of the
1.To examine , audit , and settle
2.To act as central accounting office of
3.To define the scope of its audit and
4.To promulgate accounting and auditing
rules and regulations.
5.To submit an annual financial report and
6.To perform other duties and functions.
CONCEPT OF EXAMINATION, AUDITING,
AND SETTLEMENT OF ACCOUNTS
To Audit is to adjust.
To settle means to establish,
to free from uncertainty.
An account .
law shall be passed
exempting any entity of the
Government or its subsidiary
in any guise whatever , or
any investment of public
funds, from the jurisdiction
of the Commision on Audit.
is a schedule where COA is
required to submit significant
annual reports to the congress
and president , reports about
financial condition and operation
of government and its
subdivision on will be more
effective and efficient.
Commision shall submit to the President
and the Congress within the time fixed by
law , an annual report covering the
financial condition and operation of the
Governments its subdivisions, agencies, and
instrumentalities, including governmentowned or –controlled corporations,and nongovernmental entities subject to its audit,and recommended measures necessary to
improve their effectiveness and efficiency.
It shall submit such other reports as may
be required by law.
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