The Angelite attains ‘unqualified’ audit rating for 2nd sem FS, AY 24-25

The Angelite, the official student publication of Holy Angel University, has attained an “unqualified opinion” as audit rating for its second semester financial statement, the HAU’s Commission on Financial Audit (CFA) announced April 24.

In the audit report prepared by CFA chairperson Brian Charles Barrera, also a Management Accounting graduate, the commission specified that the financial statement of the publication for the second semester of AY 2024-2025 “gives a true and fair view” of its cash flows.

No discrepancy between the financial amount of the publication reported and the audit findings was also found.

For the said semester, The Angelite began with a P1,137,005.44 in cash fund, and spent P567,778.43 for publication operations and events. Among the highest expeditures went to releases and other technical expenditures, totaling to around P218,000.

This is the third consecutive semester in a row that The Angelite has received an unqualified audit opinion, given to institutions with no material misstatements or omissions in their financial reports.

The Angelite ensures to further maintaining its transparency and financial responsibility for the succeeding semesters, and upholds its commitment for expanded service as the publication receives additional P20 funding per student for the next academic year.

Review the full financial statement here: