Section 11
SEC. 11. FUNCTIONS OF THE ACCOUNTANCY OFFICE. The Accountancy Office shall perform the following functions: Prepare the annual financial report of the Government, its sub divisions, agencies, and instrumentalities, including government-owned or controlled corporations, and other financial and/or statistical reports as may be required by the Commission; Exercise technical supervision over government accounting functions; Verify appropriations of national government agencies and control fund releases thereto; and Prepare statements on local government's revenues and expenditures, and on their legal borrowings and net paying capacities for reclassification and other purposes.