Unreconciled differences between DPWH and recipient/IAs – P1.310 billion
Department of Public Works and Highways · 2023
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What Happened?
Category: Financial ManagementIssue: MisstatementThe agency's records of funds transferred to other implementing agencies did not match the recipients' records, totaling about P1.31 billion. Management reconciled the differences, and the auditors found no similar problem the following year.
Why It Matters
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Original Audit Finding Excerpt
"Investigate, verify, and evaluate the discrepancies noted on the account balances noted from the confirmations made with the recipient/IAs, and"