MANILA, Philippines — Officials of the Commission on Audit (CoA) and the Asian Development Bank (ADB) met to discuss support for a stronger audit of foreign-assisted projects, public debt audit and Public Financial Management (PFM) reforms.
"The ADB discussed its Philippines project portfolio, noting the stronger partnership with the Philippine government in view of its growing volume of financial portfolio which is expected to increase by more than 100% in the next three years and a stronger reliance on the country's PFM system which is crucial for ADB's fiduciary responsibility," COA said in a statement.
