Peac subject to COA audit–DOJ

Quick Summary:

THE Department of Justice (DOJ) has reiterated its position that the Private Education Assistance Committee (Peac) is a private entity but still subject to audit by the Commission of Audit (COA).

Among other things, Peac is tasked with the duty to set the investment policy of the FAPE, provide for the receiving and processing of the projects sought to be financed by the FAPE, make all decisions on the use of its income and applications for grants and loans.

Section 14 (1), Book V of the Administrative Code authorizes the COA to audit accounts of nongovernment entities required to pay or have government share but only with respect to the funds coming from or through the government.

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Article Details

Author / Journalist: Joel R. San Juan

Category: BusinessStartups

Markets: PhilippinesUnited States

Topics: Code Government Peac Audit Education Opinion Romero Administrative Position Private Legal

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-27 @ 16:10:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 709 words

Reading Time: 4 minutes read

Sentences: 16 lines

Sentence Length: 45 words per sentence (average)

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Copyright Owner: © Business Mirror

News ID: 23267612

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