MANILA – Sen. Nancy Binay has urged the Governance Commission for Government-Owned and/or – Controlled Corporations (GCG) to fully review fiscal policies of government and controlled corporations (GOCCs) that were flagged by the Commission on Audit (COA).
The GCG should review the policies, requests and operational manuals of GOCCs to ensure that funds are managed with prudence, said Binay.
This, she added, will prevent government corporation’s exposure to any liability.
According to her, the P2.5-million Duty Free spending by resigned Tourism secretary Wanda Tulfo Teo is a “compelling reason” for GCG to strengthen accountability at the corporate level.
“In light of the 2017 COA findings, the Governance Commission for GOCCs must carry out its oversight functions over GOCCs particularly those that have adverse audit findings. With professionals at the helm of GOCCs, let’s elevate corporate governance and good housekeeping to global best practices,” Binay said.
Meanwhile, Binay asked the Duty Free Philippines Corp. (DFPC) to undertake the necessary actions recommended by COA in its findings particularly the P3.797 million expenditures by the Department of Tourism (DOT) which was charged to the DOT-Trust Liability Account.
During her term as tourism secretary, Teo pulled out items from DFPC and have these charged to DOT’s share in the DFPC’s annual share.
“Duty-Free Philippines can already start billing DOT and implement the recommendations of COA based on its latest audit reports. On the other hand, the Governance Commission can order the DFPC to file a petition for money claim with COA in relation to the unpaid merchandise including the P1.6-million consultancy contract which was charged against DOT’s profit share,” she noted.
Binay said that Teo and other tourism officials will be invited to the next Senate hearing into the controversies surrounding the tourism department.
“Given the audit report on the probable violation of RA 9593, we in the Senate also wanted to know if there is any misuse, conversion or diversion of funds from their intended purpose,” she stressed./PN
