For the fifth year in a row, the Philippine Space Agency (PhilSA) has received an unmodified opinion from the Commission on Audit (COA) for its 2024 financial statements— an affirmation of the Agency’s commitment to transparency, accountability, and sound financial management.

The unmodified opinion, or an unqualified opinion, signifies that PhilSA’s financial statements for the year ended 31 December 2024 were presented fairly and following the International Public Sector Accounting Standards (IPSAS).  

The annual audit conducted by COA covered the Agency’s accounts and operations for the calendar year 2024. This audit examined the accuracy of financial reporting, the propriety of transactions, and the Agency’s compliance with applicable laws, rules, and regulations. It also assessed the implementation of the previous year’s audit recommendations and aimed to identify areas for continued improvement. COA’s review follows the International Standards of Supreme Audit Institutions (ISSAIs). 

In its report, COA stated: 

“In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the PhilSA as at December 31, 2024, and its financial performance, cash flows, changes in net assets/equity and comparison of budget and actual amounts for the year then ended, and notes to financial statements, including a summary of significant accounting policies in accordance with International Public Sector Accounting Standards (IPSAS).” 

COA Supervising Auditor Cherrie Lou Arguilla and Audit Team Leader Michael Joseph Anastacio formally presented the annual audit report to PhilSA Director General Joel Joseph Marciano, Jr. on 28 May 2025 at the PhilSA Office in Quezon City, marking the continued promotion of fiscal responsibility in the public sector. 

This consistent recognition for five consecutive years reflects PhilSA’s dedication to good governance as it utilizes space science and technology applications (SSTA) programs, products, and services for the country’s development. 

As the country’s central government agency tasked to address all national issues and activities related to SSTA, PhilSA remains committed to ensuring that its resources are managed responsibly in delivering the benefits of #YamangKalawakan to the Filipino people— contributing to innovation-driven progress, inclusive growth, and national resilience.