To optimize financial resource utilization, seven campuses of Cebu Technological University (CTU) commit to comply and act in accordance with COA’s implementing rules and regulations (IRR) during the Commission on Audit (COA)-7 Exit Conference Part 2 today at the CTU-Main Campus.
Led by Supervising Auditor Jenny D. Dayola and her team, the conference discussed the CY 2024 audit observations and recommendations, the status of implementation of the prior years’ unimplemented audit recommendations, and other relevant matters concerning CTU’s campuses in Consolacion, Daanbantayan, Danao, Moalboal, Pinamungajan, Tuburan, and Main.
For enhanced transparency, accountability, and good governance, the seven campuses commit to abide by the COA’s guidelines in the proper fund utilization, budget monitoring to avoid unnecessary expenditures, compliance with the procurement laws, and accuracy of financial reports.
Further, the conference highlighted the essence of preparing the necessary journal entries to correct the misstatements and taking action to avoid deficiencies, discrepancies, and inefficient fund utilization, among others.
The audit team recommended revisiting and adhering to the COA’s revised IRR, a guide for management to ensure proper and just utilization of government funds.
In his speech, University President Dr. Joseph C. Pepito conveyed his full commitment to addressing and complying with the audit recommendations, improving the university’s performance, and upholding its highest bar of transparency, accountability, and good governance.
Campus directors also reaffirmed their commitment to implementing and complying with the audit recommendations, promoting accountability and continued improvement of the university’s financial and physical operations and transactions.
CTU key officials, including the vice presidents, chief administrative officers for Finance and Administration, campus directors, university directors, budget and supply officers, campus cashiers, accountants, and bookkeepers, Bids and Awards (BAC) chair, and planning officers, among others, were in attendance.
