July 03, 2024 - The Department of Migrant Workers (DMW) received a clean bill of health from the Commission on Audit (COA) for its financial management in 2023. COA issued an "unmodified opinion" on the DMW's Financial Statements, signifying that the department's financial records are presented fairly and accurately.
An unmodified opinion, also known as a clean audit, is the highest audit rating a government agency can receive. It assures the public that the DMW's financial statements comply with all relevant accounting standards. Conversely, a "modified opinion" indicates potential inconsistencies or limitations in the financial reporting.
"We are committed to upholding transparency and accountability," declared DMW Secretary Hans Leo J. Cacdac. "This recognition underscores our dedication to ensuring that resources entrusted to the DMW are used effectively to empower our overseas Filipino workers (OFWs) and their families."
Secretary Cacdac highlighted the significance of this achievement, especially considering the DMW's recent establishment and its ongoing efforts to assist OFWs in need. "Despite being a new agency and actively providing aid during various crises, we've managed to both safeguard public funds and efficiently support distressed OFWs," he remarked.
The DMW manages the 1.2 Billion Peso AKSYON Fund, which provides legal, financial, and medical assistance to OFWs facing difficulties. Additionally, the department leads the National Reintegration Program, offering returning OFWs various support services such as livelihood opportunities, skills development, and financial education.
This clean audit from COA signifies the DMW's commitment to responsible financial management and its dedication to serving the best interests of Filipino migrant workers.