The Manila Electric Company (Meralco) marked International Audit Awareness Month with a flagship learning session aimed at cultivating future leaders in audit. Titled Sparking Internal Audit Literacy, the initiative seeks to strengthen audit capabilities and bridge the gap between academia and the evolving energy industry.
Spearheaded by Meralco’s Internal Audit Office, the program gathered over 100 students and faculty members from universities such as Far Eastern University, University of Asia and the Pacific, De La Salle University, and Polytechnic University of the Philippines. It also included representatives from the National Federation of Junior Philippine Institute of Accountants.
Meralco executives, alongside experts from the Institute of Internal Auditors Philippines and the Information Systems Audit and Control Association, provided key insights on cybersecurity, fraud risk management, and risk-based auditing frameworks. The session also featured Meralco’s own internal audit capability model—designed to uphold industry best practices and innovation.
“Internal auditing is not just about compliance or numbers. It is about foresight, integrity, and the courage to ask the right questions—even when the answers may be uncomfortable,” said Meralco Senior Vice President and Group Chief Audit Executive Melanie T. Oteyza.
She emphasized audit’s crucial role amid fast-paced technological shifts and global economic challenges. “Internal Audit serves as a compass, helping organizations stay on course and adapt responsibly,” she added.
Reinforcing its leadership in governance and transparency, Meralco’s Internal Audit Office was recently recognized by PwC Philippines for conforming to international internal auditing standards and the Code of Ethics. It also earned a top-quartile rating in the Asia Pacific and Global Industry Benchmarking for its External Quality Assessment Review.
As regulatory demands and cyber risks reshape the energy landscape, how can audit practices further reinforce resilience and ethical governance in power utilities? We invite stakeholders and professionals to join the discussion and share their insights on this development.
Follow Power Philippines on Facebook and LinkedIn or join our Viber community to stay up to date on the latest energy news.
There are no comments
Add yours