The Clark International Airport Corp. (CIAC) has received its eighth consecutive unmodified opinion from the Commission on Audit (CoA), confirming the agency’s consistent adherence to sound financial management and reporting practices for fiscal year 2024.
The unmodified opinion — the highest audit rating issued by CoA — was detailed in its 2024 Annual Audit Report released in May this year. CoA attributed the result to CIAC’s “exceptional financial performance,” particularly the corporation’s ability to exceed revenue targets set by the Governance Commission for Government-Owned or Controlled Corporations (GCG) under its 2024 Performance Scorecard.
This sustained audit rating enhances CIAC’s reputation as a well-managed government-owned corporation and reinforces its strategic role in contributing to the government’s fiscal health. The audit cited CIAC’s compliance with Republic Act No. 7656, noting regular dividend remittances to the National Government via the Bureau of the Treasury — a key element in funding socio-economic programs.
CIAC president Jojit Alcazar lauded the CoA recognition, stating it reflects “the fair and transparent presentation of CIAC’s financial position, and a significant outcome of the corporation’s financial management expertise and unwavering commitment to transparency and good governance.”
The CoA audit covered CIAC’s financial statements as of 31 December 2024 and 2023, assessed compliance with prior audit recommendations, and reviewed key accounting policies. The opinion was issued following an independent audit conducted in accordance with International Standards of Supreme Audit Institutions (ISSAIs) and Philippine Financial Reporting Standards (PFRSs).
This consistent clean audit further cements CIAC’s position as a benchmark for financial discipline among GOCCs, reinforcing investor confidence and supporting its long-term commercial and operational growth.
