The Bureau of the Treasury said that measures are in place to ensure the integrity of the planned P275-billion Maharlika Wealth Fund amid mounting criticism against the measure due to the timing and risks involved with the investment instrument.
Secondly, all financial transactions will be governed by the applicable government laws, rules and regulations.
The reporting and auditing will be done upon the guidance of the advisory body in accordance with the relevant provisions of the law and its implementing rules and regulations and the International Financial Reporting Standards.
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