Metro Manila (CNN Philippines, December 5) —The Commission on Audit has ordered the Securities and Exchange Commission to refund over ₱92.7 million in salaries received by officials and employees that were found to be irregular.
It denied the motion for reconsideration filed by the SEC and its former chairperson Atty. Theresa Herbosa and affirmed with finality a notice of disallowance first issued in 2014.
“The arguments presented by the SEC and Atty. Herbosa were a mere rehash of the arguments raised in their Petition for Review, which were already judiciously passed upon by this Commission in the assailed decision,” the COA said in a January 2022 decision made available to media on Monday.
State auditors flagged the SEC over salary increases given to officials and employees in 2012 without the approval of the Office of the President.
As to the liability, the COA said all public officials responsible for the illegal expenditures as well as those who actually received the amounts should cover the refund.
“The Commission on Audit is not persuaded on the invocation of good faith on the part of Atty. Herbosa and other approving/authorizing/certifying SEC officials,” the decision reads.
