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PhilHealth: The First Government Agency to Adopt Latest Standards in Internal Auditing February 7, 2018

TO strengthen its Internal Audit Group’s (IAG) value in corporate governance, risk management and controls, the Philippine Health Insurance Corporation (PhilHealth) recently developed an Internal Audit Manual to serve as definitive guide for its internal auditors.

Internal auditing is an independent function designed to add value and improve an organization’s operations through evaluation of the effectiveness of risk management, controls and governance processes.

The first phase of the PhilHealth-COA Initiative saw the assessment of the Internal Control Systems (ICS) in the Head Office and in eight (8) of the 17 PhilHealth Regional Offices. The assessment included the administration of Internal Control Checklists (ICC) to ascertain the identified risks and the internal controls, and the results served as bases in determining the audit areas for three (3) years as reflected in the Internal Audit Strategic Plan. PhilHealth is the first government agency to conduct an assessment of its internal control systems in all of its functions and processes.

PhilHealth started writing the Manual in September 2017 and the PhilHealth Board of Directors approved its implementation in January 2018. (END) (Servillano G. Medina)

(Reference: Dr. Israel Francis A. Pargas, Head Executive Assistant and Concurrent OIC-Vice President for Corporate Affairs Group, Cel No. 0917-8089399)



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PhilHealth: The First Government Agency to Adopt  Latest Standards in Internal Auditing