SEC receives unqualified audit rating from CoA

Last week, I wrote about the Securities and Exchange Commission (SEC) receiving the ISO 9001:2015 certification for its quality management system covering all core services across its main and extension offices.

Barely a week after the formal awarding of the ISO certificate, the SEC received from the Commission on Audit (CoA) the independent report of State Auditor Concepcion Reyes. In that July 30, 2020 report, she bestowed an unqualified opinion, or audit rating, on the fairness of the presentation of the SEC’s 2019 financial statements, affirming its commitment to improve the ease of doing business in the country by eliminating red tape and other opportunities for graft and corruption, among others.