The Authority of the Freeport Area of Bataan (AFAB), under the leadership of Administrator and CEO Hussein P. Pangandaman, has been recognized as one of the top-performing government accounting offices for Fiscal Year 2023, receiving the prestigious Outstanding Accounting Office Award from the Association of Government Accountants of the Philippines (AGAP), Inc. during their Annual Convention held on 9 October 2024 in Cebu City.
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AFAB earned the award in the category for Government-Owned and Controlled Corporations (GOCCs) for its exemplary performance in financial reporting. Over the past three years, AFAB consistently received unmodified opinions from the Commission on Audit (COA) – indicating that its financial statements were accurate, reliable, and fully compliant with government accounting standards, free from material errors or misstatements.
To qualify for the said award, an agency must first be endorsed by COA, with the unmodified opinion being the most significant criterion. Additionally, AFAB met AGAP’s stringent evaluation standards, which assess government agencies on key aspects such as accuracy and timeliness in reporting. By meeting these requirements, AFAB has positioned itself among the agencies that exemplify excellence in financial governance.
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AFAB’s Finance Department Manager Charles M. Ramones and Accounting Division Manager Donnabie Pearl P. Canta accepted the award on behalf of the Agency, recognizing the entire team’s commitment to transparency and responsible oversight. As AFAB continues to uphold these standards, it remains steadfast in its pursuit of excellence and innovation in all its endeavors.