Pd 1445

13838 WordsMar 12, 201256 Pages
MALACAÑANG Manila PRESIDENTIAL DECREE No. 1445 ORDAINING AND INSTITUTING A GOVERNMENT AUDITING CODE OF THE PHILIPPINES WHEREAS, the creation and establishment of the Commission on Audit under the new Constitution and its recent reorganization and restructuring by virtue of Presidential Decree No. 898 have rendered more pressing the long-felt need to codify in revised and updated form, in keeping with modern trends of government auditing and progressive legislation on the subject, various scattered auditing laws, rules and regulations, and to incorporate therein presidential decrees, orders, proclamations, and instructions germane and relevant thereto for integrated effect; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the…show more content…
5. Disbursements or disposition of government funds or property shall invariably bear the approval of the proper officials. 6. Claims against government funds shall be supported with complete documentation. 7. All laws and regulations applicable to financial transactions shall be faithfully adhered to. 8. Generally accepted principles and practices of accounting as well as of sound management and fiscal administration shall be observed, provided that they do not contravene existing laws and regulations. TITLE I THE COMMISSION ON AUDIT CHAPTER 1 ORGANIZATION Section 5. Composition of the Commission on Audit qualifications, term, and salary of members. 1. The Commission on Audit, hereinafter referred to as the Commission, shall be composed of a Chairman and two Commissioners, who shall be natural-born citizens of the Philippines and, at the time of their appointment, at least forty years of age and certified public accountants or members of the Philippine Bar for at least ten years. 2. The Chairman and the Commissioners shall be appointed by the Prime Minister for a term of seven years without reappointment. Of the Commissioners first appointed, one shall hold office for seven years, another for five years, and the third for three years. Appointment to any vacancy shall only be for the unexpired portion of the term of the predecessor. 3. The Chairman and
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