REPUBLIC OF THE PHILIPPINES

COMMISSION ON AUDIT
Commonwealth Avenue, Quezon City, Philippines

Financial Management Performance Rating

based on the financial audit performed on:

Agency: _____________________
Period: _____________________

Reliability of Financial Information Score Remarks

1. Audit Opinion rendered (20 points unqualified, zero for other opinions) 20
Adequacy of Internal control
2. Internal control survey indicated adequate control environment (5 points 5
adequate)
3. Ethical awareness seminars are conducted and have been attended by 75% of 1
all staff surveyed. (1 point)
4. Risk assessment is being performed to identify risks and responses to these 7
risks. (7 points)
5. Control activities including forms and reports required in the Internal Control 10
Policies, Procedures and Practices are in place (10 points)
6. An internal audit unit exists. (1 point if yes) 1
7. The internal audit unit reviews the internal control of the agency based on 5
reports received. (5 points if yes)
Compliance with Management Representation in the Engagement Letter
8. The requirements in the engagement letter were complied with by the agency. 15
- Submission of complete FS within the deadline set (5 points)
- Audit queries and request for documents were addressed on time (5 points)
- Submission of written representations required on time and near the date
of audit report (5 points)
Adjustments required by the Auditor
9. All audit adjustments were considered by the agency and were taken up 10
during the audit period. (0-10 points)
Audit observations and recommendations
10. Observations and recommendations as a result of the audit were considered 2
and management has provided a time plan for implementing the
recommendations. (2 points)
11. Prior period recommendations were implemented during the current year. (0- 10
10 points)
Quality of financial statements furnished for audit
12. The Financial Statements were prepared in accordance with the prescribed 7
reporting framework.
13. The Accounting team that prepared the FS is composed of qualified accounting 2
staff.
14. Cooperation extended to the audit team 5
15. Total Score—perfect score 100
16. Indications of fraud and intentional errors (25)
 REPUBLIC OF THE PHILIPPINES
COMMISSION ON AUDIT
Commonwealth Avenue, Quezon City, Philippines

90 to 100% of all applicable criteria Excellent

85 to 89% Very Satisfactory
75% to 84% of total applicable criteria Satisfactory
Below 75% Poor

Group Assessment of the Agency’s Financial Management Performance

We are giving a joint performance score of _______ %.

__(Signature over printed name)__ __(Signature over printed name)__

Supervising Auditor/Regional Supervising Auditor Cluster/Regional Director
Date: Date: