HAU’s Commission on Financial Audit (CFA) recognized a record 25 student institutions for earning an “unqualified opinion” in its second semester audit for AY 2024 – 2025, the highest number to date.

Announced during the commission’s second press conference on April 24, the new total reflects an increase from the 15 student institutions recognized in the first semester.

Unqualified opinion is the highest audit opinion given for financial statements that are fairly presented and free from discrepancy. 

CFA Chairperson Brian Charles Barrera cited an “improved preparation and documentation” in the financial statement of student institutions and publications as the reason behind the improvement.

“Before kasi may mga supporting documents na hindi nababasa talaga, ‘yong mga naka-scan. So, ang ginawa nila ngayon, kapag hindi ganoon ka-readable ang scanned copies, nagpa-pass sila ng physical copies. So, doon naco-counter check namin ‘yong mga amounts,” said Barrera.

Meanwhile, three student institutions received a qualified opinion, given to those with material discrepancies but are not “pervasive” or fully significant; 17 with an adverse opinion that “do not fairly present” their financial statements; and three with a disclaimer of opinion, given when the auditor cannot provide an evidence due to lack of sufficient supporting evidences to the reports.

Here is a full list of the audit ratings of student institutions:

Unqualified Opinion

1. Apl.de.Ap Music Studios
2. Association of DOST Scholars HAU Chapter
3. Code Geeks
4. College Student Council – School of Arts and Sciences
5. College Student Council – School of Business and Accountancy
6. College Student Council – School of Nursing and Allied Medical Sciences
7. Google Developers Groups on Campus – HAU
8. HAU Debate Congress
9. Holy Angel University – University Student Council
10. League of Outstanding Programmers
11. Philippine Institute of Industrial Engineers
12. Philippine Society of Medical Technology Students
13. Radiologic Technology Student Society
14. Society of Aerospace Engineers of the Philippines
15. Society of Angelite Nursing Students
16. Student Associations of Forensics and Enthusiasts
17. The Access Point
18. The Angelite
19. The Concierge
20. The Enterprise
21. The Kaleidoscope
22. The Lifeline
23. The Reflection
24. The Solution
25. United Architects of the Philippines Student Auxiliary – HAU

Qualified Opinion

1. Cybersecurity Intelligence Alliance
2. Criminal Justice Organization for Public Service
3. Institute of Electronic Engineers of the Philippines

Adverse Opinion

1. College Student Council – College of Criminal Justice Education and Forensics
2. College Student Council – School of Computing
3. College Student Council – School of Education
4. College Student Council – School of Hospitality and Tourism Management
5. Communicators’ League
6. Hospitality Management Association of the Philippines
7. Institute of Computer Engineers of The Philippines Student Edition
8. Institute of Integrated Electrical Engineers of the Philippines
9. Juris Orbis
10. League of Tourism Students of the Philippines
11. Management Society
12. Multimedia Aficionados for Interested Artists
13. Philippine Institute of Civil Engineers
14. Philippine Society of Mechanical Engineers
15. Psychology Society
16. Red Cross Youth – HAU Chapter
17. The Nexus

Disclaimer of Opinion

1. College Student Council – School of Engineering and Architecture
2. HAU Scholar Volunteers for the Environment
3. Rotaract Club of Holy Angel University

He further noted that institutions that did not receive an unqualified opinion lacked proper signatures and supporting documents, while those issued a disclaimer of opinion failed to submit their financial statements altogether.

“‘Yung iba hindi talaga nag-pass, tapos meron ding walang supporting documents. Hindi naman tayo [makapagbibigay] ng opinyon kung walang documents,” the chairperson said. 

It was discussed that HAU-CFA plans to release an “improved and integrated” audit handbook by June. The new version will incorporate recently released resolutions and will replace the current handbook created by the Junior Philippine Institute of Accountants and Auditors – United (JPIAA-U).