The Commission on Audit (CoA) has been appointed as the brand new External Auditor of the World Trade Organization (WTO), reflecting its credibility and powerful status in international auditing and growing influence in advancing good governance world wide.
The Philippines’ audit body, an independent constitutional commission, succeeds France’s supreme audit institution, the Cour des Comptes, and can serve a non-renewable term of six years.
In its role, the CoA will oversee the audit of the WTO’s financial statements, pension plan, and operations consistent with the Organization’s financial regulations.
The audit body was chosen by the WTO General Council on the suggestion of its Committee on Budget, Finance and Administration (CBFA). The committee cited how the CoA’s proven track record in auditing international organizations will help strengthen financial accountability and reinforce trust within the WTO’s governance framework.
“CoA’s appointment because the WTO’s recent external auditor demonstrates how the world views our capabilities as an independent audit body — reliable, trustworthy, and world-class. We’re committed to upholding the very best standards of independence and professionalism in our work with the WTO, continuing our mission to advertise transparency and accountability in international institutions,” said CoA Chairperson Gamaliel A. Cordoba.
He said the WTO appointment represents a major milestone for the CoA, illustrating its expanding influence and growing force in advancing transparency, accountability, and good governance not only within the Philippines, but world wide.
The CoA earlier served as External Auditor for several major specialized United Nations agencies, including the World Health Organization (WHO), the International Labor Organization (ILO), the United Nations Industrial Development Organization (UNIDO), and the Food and Agriculture Organization (FAO).
In these assignments, the CoA was commended for its rigorous standards and contribution to strengthening transparency and accountability in global governance.
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