Customers’ Deposits with Possible Misposting and No Movement for 10 Years
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: Financial ManagementIssue: MispostingOld customer deposits have sat unchanged for a decade and may have been recorded incorrectly.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Cluster 01 241,028.28 Refers to prior year transactions which can not be ascertained if it was a product of misposting. Request for reversion will be made in CY 2023 since there was no movement for the past 10 years in the books of Ilocos Norte 1st DEO, and receipt of cash bond of Lanao 2 nd DEO and Misamis Occidental 2nd DEO."