COMMISION ON AUDIT
ARTICLE 9
D. COMMISION ON
AUDIT
Section 2-4
Section 2
The
commision on audit has a power
, authority and duty ;the concept of examination , auditing and settlement of accounts.
Power and Functions of the
Commision
1.To examine , audit , and settle accounts. 2.To act as central accounting office of the government.
3.To define the scope of its audit and examination. 4.To promulgate accounting and auditing rules and regulations.
5.To submit an annual financial report and recommend measures.
6.To perform other duties and functions.
CONCEPT OF EXAMINATION, AUDITING,
AND SETTLEMENT OF ACCOUNTS
1.
Examine
2.
To Audit is to adjust.
3.
To settle means to establish, to free from uncertainty.
4.
An account .
SECTION 3
No
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.
SECTION 4
There
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.
Section 4
The
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.
D. COMMISION ON
AUDIT
Section 2-4
Section 2
The
commision on audit has a power
, authority and duty ;the concept of examination , auditing and settlement of accounts.
Power and Functions of the
Commision
1.To examine , audit , and settle accounts. 2.To act as central accounting office of the government.
3.To define the scope of its audit and examination. 4.To promulgate accounting and auditing rules and regulations.
5.To submit an annual financial report and recommend measures.
6.To perform other duties and functions.
CONCEPT OF EXAMINATION, AUDITING,
AND SETTLEMENT OF ACCOUNTS
1.
Examine
2.
To Audit is to adjust.
3.
To settle means to establish, to free from uncertainty.
4.
An account .
SECTION 3
No
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.
SECTION 4
There
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.
Section 4
The
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.