CoA, ADB meet to strengthen audit of foreign aid projects

The Commission on Audit (CoA) and the Asian Development Bank (ADB) held a meeting on November 20, 2024 to discuss support for strengthening CoA audits of foreign aided projects, public debt audits and Public Financial Management (PFM) reforms in the Philippines , including the PFM Inter-agency Initiative for Green Lane Fiduciary Arrangements as part of CoA’s international commitments.

CoA Chairman Gamaliel A. Cordoba led the CoA team composed of Assistant Commissioners Martha Roxana C. Sese, Adela L. Dondonilla and Alexander B. Juliano, Directors Corazon S. Rocas, Marilyn C. Briones, Haide T. Espuelas and Olympia P. Balugay, and OIC Assistant Directors Ameer S. Gamama and and Eumaida P. Tiongson as the Auditor Accountants of the Department of Social Welfare and Development (DSWD), Department of Health (DoH), Department of Transportation (DoTr), Department of Public Works and Highways (DPWH), Local Water Utilities Administration, and the Metropolitan Waterworks and Sewerage System.

Meanwhile, ADB Philippines Country Director Pavit Ramachandran was joined by Ruth S. Farrant (Director, Public Finance Management. [PFFM] 2), Karin Schelzig (Director, Department of Human and Social Development), Alain X. Morel (Head of Country Operations, Philippines), Myra Evelyn P. Ravelo, (Financial Management Specialist, PFFM 1), Ruby U. Alvarez (Superior Project [Infrastructure]Philippines), and Raffy D. Amos (Financial Management Related Officer, PFFM 2).

ADB discussed its project portfolio in the Philippines, noting the strong relationship with the Philippine government in view of its growing volume of financing that is expected to grow by more than 100% in the next three years and the strong reliance on the country’s PFM system is essential to ADB’s responsibility.

ADB also discussed Project Level Financial Management Issues under the Expanded Community Assistance Project (ESAP), the Angat Water Transmission Improvement Project (AWTIP), and Improving the Health System to Address and Limit COVID-19 (HEAL), among others.

ADB expressed appreciation for the positive impact of CoA’s participation in the Tri-Partite Portfolio Review Mission and Philippines Program, and the Portfolio Planning Retreat of ADB-funded projects, which affirmed the important role of CoA in ensuring that all financial management programs they work. to work effectively and efficiently.

The CoA representatives gave a summary of the CoA study of ADB-funded projects from other countries to DPWH, DoTr, DSWD and DoH such as Improveth Growth Corridors in Mindanao Road Sector Project, South Commuter Railway Project, Integrated Flood Resilience and Adaptation Project — Phase 1 and Metro Manila Bridges Project, Community Protection Support Project, ESAP, PHILISA 1 and PHILISA 2, among many others.

Also discussed were ADB-assisted foreign projects implemented by government and controlled companies including the Water District Development Sector Project, the Emergency Assistance for Reconstruction and Rehabilitation Project in Marawi under the Urban Climate Change Resilience Trust Fund, and AWTIP.