metromanila.politics.com.ph

Major fail! CPAs slam Bobby Eusebio for celebrating COA’s ‘qualified opinion’ for Pasig

0 1,035

Netizens said the outgoing mayor needs a crash course about accounting.

Former Pasig Mayor Bobby Eusebio refuses to let go of the top seat without a bang, so he’s out hailing the achievements of his administration.

On his last day in office, Eusebio proudly shared a letter from the Commission on Audit (COA) giving Pasig a “qualified opinion” for their 2018 operations. The politiko took this as a reward.

“Isang patunay lamang po ito na maayos at pantay na nagagamit ang bawat sentimong pondo ng ating mahal na Lungsod Pasig. Isang Serbisyong Totoo Para sa Pasiguenyo,” Eusebio went on to claim.

But the many accountants on Facebook reluctantly corrected him for his big booboo.
Christian Pada commented: “FYI. A qualified opinion is a statement issued after an audit is completed by a professional auditor, suggesting that the information provided is limited in scope and/or the company being audited has not maintained GAAP accounting principles.”
The post quickly went viral for all the wrong reasons.
“Patay tayo dyan, Ex-Mayor. You shouldn’t proud of a Qualified Opinion,” one user said.
<iframe src=”https://www.facebook.com/plugins/post.php?href=https%3A%2F%2Fwww.facebook.com%2Fmimayruiz%2Fposts%2F391304971729368&width=500″ width=”500″ height=”660″ style=”border:none;overflow:hidden” scrolling=”no” frameborder=”0″ allowTransparency=”true” allow=”encrypted-media”></iframe>

<iframe src=”https://www.facebook.com/plugins/post.php?href=https%3A%2F%2Fwww.facebook.com%2Fnherie.magpantay%2Fposts%2F2727273310634051&width=500″ width=”500″ height=”613″ style=”border:none;overflow:hidden” scrolling=”no” frameborder=”0″ allowTransparency=”true” allow=”encrypted-media”></iframe>

“Uhm??? FYI po hindi po parangal ang isang Qualified Opinion na iginagawad ng isang External Auditor sa isang LGU. It can mean that the scope of the audit was being limited and that the organization did not present its financial records in accordance with generally accepted accounting principles,” another one added.

<iframe src=”https://www.facebook.com/plugins/post.php?href=https%3A%2F%2Fwww.facebook.com%2Fmyrtlegarcel%2Fposts%2F2256297047751322&width=500″ width=”500″ height=”670″ style=”border:none;overflow:hidden” scrolling=”no” frameborder=”0″ allowTransparency=”true” allow=”encrypted-media”></iframe>

<iframe src=”https://www.facebook.com/plugins/post.php?href=https%3A%2F%2Fwww.facebook.com%2Fchano.magbuhos%2Fposts%2F3374626472562747&width=500″ width=”500″ height=”604″ style=”border:none;overflow:hidden” scrolling=”no” frameborder=”0″ allowTransparency=”true” allow=”encrypted-media”></iframe>

Here’s a pretty good explanation from another auditing pro.
“Hahahaha proud pa sya sa “QUALIFIED OPINION” 🤦🏼‍♀️ baka puro adverse dati kaya kinatuwa nya pang qualified or modified opinion,” the netizen said.

<iframe src=”https://www.facebook.com/plugins/post.php?href=https%3A%2F%2Fwww.facebook.com%2Fjoanndiomampob%2Fposts%2F2363612873662045&width=500″ width=”500″ height=”613″ style=”border:none;overflow:hidden” scrolling=”no” frameborder=”0″ allowTransparency=”true” allow=”encrypted-media”></iframe>

Facepalm moment!