On 15 April 2025, officials of the MWSS Regulatory Office (RO), led by Chief Regulator Patrick Lester N. Ty, along with auditors from the Commission on Audit (COA), held an exit conference to present the final detailed audit report, including findings and recommendations, for the 2024 Regulatory Financial Audit (RFA). The audit covered the books and records of Manila Water and Maynilad Water Services, Inc. for the period 01 January to 31 December 2022.
The RFA of historical cash flows seeks to establish allowable expenditures, Concession Fees, and Revenues/Receipts by applying the principles of efficiency and prudency, in accordance with the general provisions under the Revised Concession Agreement (RCA).
The conference also served as a platform to discuss the findings for each audited account, address identified issues, and present proposed resolutions and policy recommendations for adoption in the 2027 Rate Rebasing. Additionally, the auditor provided suggestions to enhance future audit engagements.
In its efforts to more efficiently monitor the Concessionaires’ compliance with the RCA, the MWSS RO has initiated the annual conduct of its RFA, instead of the previous five-year interval. The activity, conducted by the COA, is intended to support the Rate Rebasing exercises and further institutionalize the MWSS RO’s regulatory mandate.
Present during the Exit Conference were Chief Regulator Ty, Deputy Administrator for Administration and Legal Affairs Claudine B. Orocio-Isorena, Deputy Administrator for Technical Regulation Evelyn B. Agustin, Deputy Administrator for Customer Service Regulation Lee Robert M. Britanico, Acting Deputy Administrator for Financial Regulation Christopher D. Chuegan, and representatives from the Financial Regulation Area.
Check out MWSS RO’s programs, activities, and projects through this link: https://ro.mwss.gov.ph/