The Energy Regulatory Commission (ERC) has once again earned the highest audit rating from the Commission on Audit (COA). This achievement has them receiving an unmodified opinion for its Fiscal Year 2024 financial statements.

This marks the third consecutive year the ERC has received such recognition, which reflects its consistent adherence to fiscal transparency and sound financial management. The unmodified opinion was formally conveyed to the ERC on June 25, 2025, affirming that its financial statements were presented fairly and in accordance with International Public Sector Accounting Standards (IPSAS).

“In our opinion, the accompanying financial statements present fairly, in all material respects…,” read the Independent Auditor’s Report signed by Nenita P. Valdez-Talion, OIC Supervising Auditor for the Audit Group for the Department of Energy and ERC.

An unmodified opinion is the highest rating issued by COA. It indicates that the agency’s financial records comply fully with applicable reporting standards.

ERC Chairperson and CEO Monalisa C. Dimalanta, who has led the agency since 2022, has instituted reforms that strengthened fiscal discipline. This includes her early decision to return remaining confidential funds and eliminate such budget items from future proposals.

“At the ERC, we hold ourselves to the highest standards of integrity and accountability… so that the taxpayers’ money entrusted to us are managed and spent with utmost prudence,” Dimalanta said.

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