Dormant Infrastructure Assets Lacking Supporting Documents and Pending COA Write-Off
Department of Public Works and Highways · 2023
This summary was generated automatically from the source document and may contain errors. It is not an official interpretation and should not be relied upon as legal guidance. Review the original excerpt and source document to verify before citing or acting on it.
What Happened?
Category: Asset ManagementIssue: Internal ControlThere are infrastructure assets worth about 21.5 million pesos that have been idle for over five years. The documents supporting these assets are missing, and the office asked COA for permission to remove them from the books back in 2020, but has not received an answer yet. This leaves questionable assets on the books without proper documentation or disposition.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Cluster 02 21,574,036.20 Represents various infrastructure assets under the books of Negros 1 st DEO which remain dormant for more than five years. This account was turned over by the previous accountant with no available documents to support the set -up of the same. Thus, a letter dated March 05, 2020 was sent to COA requesting for authority to write-off the said account. As at December 31, 2023, Negros 1 st DEO is still waiting for COA’s response."