Legal Basis The Government Accounting Manual (GAM) is prescribed by COA pursuant to Article IX-D, Section 2 par. The Philippine Government Internal Audit Manual (PGIAM) was developed to empower Internal Auditors in performing their roles. This Government Accounting and Auditing Manual will take effect on January 1, 1992. Auditing (ISA) as benchmarks, and draws on international experience and good practices in the field of accounting and audit regulation. It is divided into two parts: Part I â Guidelines outlines the basic concepts and principles of internal audit, and the policies and standards that will guide government â¦ PICPA, Philippine Institute of Certified Public Accountants Certification and Auditing Philippines Financial Reporting Standards Council (FRSC), established by the Board of Accountancy (a government agency) in 2006, establishes generally accepted accounting principles in the Philippines. The Philippines population is 85.2 million. The New Government Accounting System: Issues in Public Audit 1 Introduction Historically, the growth of government auditing and accounting in the Philippines was greatly influenced by the administrative practices in the United States, so much so that during the time that the General Accounting Office in the United States was responsible for the governmentâs accounting, that â¦ Disclaimer: The information on this site is intended as a general reference for internet users. EUFEMIO C. DOMINGO Chairman BARTOLOME C. FERNANDEZ, JR ROGELIO B. ESPIRITU Commissioner Commissioner HOW TO USE THE GOVERNMENT ACCOUNTING AND AUDITING MANUAL (GAAM) The Government Accounting and Auditing Manual is divided into three volumes. The Government Accounting Manual (GAM) is prescribed by COA pursuant to Article IX-D, Section 2 par. Internal Auditing in Philippine Government: Initiatives, Issues, and Prospects 3 2. State audit is the analytical and systematic examination and verification of financial transactions, operations, accounts and reports of any government agency for the purpose of determining their accuracy, integrity, and authenticity, and satisfying the requirements of law, The Philippine Association for Government Budget Administration (PAGBA), Inc. 2nd Quarterly Seminar and Meeting 07 July 2016, Pryce Plaza Hotel, Cagayan de Oro City By: LUZVI PANGAN CHATTO Director IV Accounting Systems Development and Other Services Office Government Accountancy Sector Commission on Audit GOVERNMENT ACCOUNTING MANUAL 898 1976 has given the Commission on Audit (COA) the authority and power on all matters relating to auditing and accounting procedures, systems, and controls for the Philippine government. It is made available on the understanding that The Bureau of The Treasury (BTr), as a result of providing this information, is not engaged in providing professional advice. Economic growth in the Philippines has been rising since 2001, however averaging 4.5 â¦ Presidential Decree No.