Is a report prepared at year-end on the results of audit on the accounts and operations of an Agency. It is transmitted to the head of agency/auditee not later than the deadline set by the Commission. It is a final output of the yearly audit conducted by the auditor assigned to audit the accounts and operations of a government agency and basically consists of the Auditor’s Certificate, the financial statements and the audit observations and recommendations.
(Reference: COA Circular No. 2009-006, Revised Rules on the Settlement of Accounts)