Stale Checks Not Reverted to Cash Account
Department of Public Works and Highways · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceChecks that expired were not taken back into the cash account, so cash and liability balances are wrong.
Why It Matters
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Original Audit Finding Excerpt
"Analysis of the reported balances of bank accounts revealed that four commercial checks and two MDS checks totaling P3,295,476.89 drawn from the respective bank accounts of Isabela City DEO and Zamboanga City DEO in Region IX were staled by 34 to 1,121 days from the date of their issuance. These checks were issued for the refund of purchased bidding documents, payment of honorarium, RROW acquisitions, and release of retention fees."