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Republic of the Philippines

COMMISSION ON AUDITNATIONAL GOVERNMENT SECTOR

Cluster VI Agriculture and Environent

!ue"on Cit#

AUDIT CERTIFICATE

The Director

Bureau of Fisheries and Aquatic Resources

Quezon Avenue, Quezon City

We have audited the accompanying consolidated balance sheet of the Bureau of

Fisheries and Aquatic Resources as of ecember !", #$$# and the related consolidated

statements of income and e%penses and cash flo&s for the year ended' (hese statementsare the responsibility of the Bureau of Fisheries and Aquatic Resources) management'

*ur responsibility is to e%press an opinion on these financial statements based on our

audit'

We conducted our audit in accordance &ith la&s, C*A standards and applicable

generally accepted auditing standards' (hose standards require that &e plan and perform

the audit to obtain reasonable assurance about &hether the financial statements are free ofmaterial misstatements' An audit includes e%amining, on a test basis, evidence

supporting the amounts and disclosures in the financial statements' An audit also

includes assessing the accounting principles used and significant estimates made by theAuditee as &ell as evaluating the overall financial statement presentation' We believe

that our audit provides reasonable basis for our opinion'

(here is reason to believe that the financial statements are not free of material

misstatements because of the follo&ing reasons+

(he Accounts -ayable balance of -",!!",!!!,./"'01 is unreliable because itincludes 2a3 undelivered goods and services amounting to -4,10.,0./'!$

already recorded by CAR as payables5 and 2b3 payables of -"0,#/0,046'"1

recorded by Regions 7888, 98 and 988 &hich are not supported by documents,schedules or subsidiary ledgers'

(here &as failure to 2a3 conduct inventory of fi%ed assets composing thetotal -roperty, -lant and :quipment balance of -04,04#,.$0'$! in four 213

regions5 2b3 reconcile the total difference of -!.1,!"1,01!'0# bet&een boo;

7/23/2019 BFAR02 Part1-Audit Certificate

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and inventory balances in the