The Commission on Audit (COA) held the FY 2024 Audit Exit Conference for the Department of Science and Technology - Philippine Textile Research Institute (DOST-PTRI) on April 2, 2025 at the TELA Gallery, DOST-PTRI. This event focused on discussing the results of the FY 2024 audit and reviewing the Audit Observation Memorandums (AOMs) from both the current and previous years. The financial audit of the Balance of Property, Plant, and Equipment (PPE), reconciliation of cash accounts, the implementation of infrastructure contracts, and the liquidation of completed Government Initiated and Assisted (GIA) projects were also discussed.

The conference also provided an opportunity for addressing compliance with operational audit memorandums related to technology transfer agreements and the FRONTIER program. 

The COA issued an unmodified opinion on DOST-PTRI’s FY 2024 Annual Financial Statement (AFS). This unmodified opinion signifies that the AFS accurately reflects the financial position of the Institute and adheres to the applicable financial reporting standards, without any material discrepancies. This marks a significant achievement for DOST-PTRI, highlighting its commitment to transparency, accountability, and sound financial management.