The government has billions of pesos in advances given to contractors that have not been settled or recovered. Contractors have not submitted the required final billing documents, or there are other unknown reasons for the non-recovery. This creates a risk that these advances may not be collectible and that the reported balance is overstated.

Why It Matters

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Original Audit Finding Excerpt

"Advances to Contractors represents unrecouped long outstanding advances to contractors due to the delayed/non -submission of the concerned contractors of the documents for final billing and other unknown reasons."

Source Document