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PRESIDENTIAL DECREE NO. 111


 


PRESIDENTIAL DECREE NO. 111  - DECLARING THE EFFECTIVITY OF THE CREATION OF  THE COMMISSION ON AUDIT AS PROVIDED IN THE  NEW CONSTITUTION AND PROVIDING GUIDELINES  FOR THE OPERATION THEREOF
 


WHEREAS, on January 17, 1973, the new Constitution became effective when it was ratified by the people as announced  by Proclamation No. 1102 issued on the same date; and  

WHEREAS, the new Constitution provides for an independent  Commission on Audit composed of a Chairman and two Commissioners,  and as a result of the effectivity of the new Constitution  the Commission on Audit provided therein is deemed to  have come into existence;  

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of  the Philippines, by virtue of the powers vested in me by the  Constitution as Commander-in-Chief of all the Armed Forces of  the Philippines, and pursuant to Proclamation No. 1081 dated  September 21, 1972, and General Order No. 1 dated September  22, 1972, do hereby declare and decree:

1.     The Commission on Audit provided in the new Constitution  (Art. XII) is now in existence.

2.     The Commission on Audit shall function in accordance  with the pertinent provisions of the Constitution and existing  laws, rules and regulations which are not in conflict or incompatible  with the provisions of the Constitution.

3.     The Commission, in the discharge of its duties and  functions, shall see to it that government funds and property are  fully protected and conserved and that irregular, unnecessary,  excessive or extravagant expenditures or uses of such funds and  property are prevented.

This Decree is hereby made part of the law of the land and  shall take effect immediately.  

Done in the City of Manila, this 26th day of January, in  the year of Our Lord, nineteen hundred and seventy-three.


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