Non-reversion of Long Outstanding Accounts Payable
Department of Public Works and Highways · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceSome debts that the DPWH owed to suppliers and contractors have been sitting unpaid for more than two years, and there is no proof that they are still valid. According to the law, these should be removed from the books and transferred to the government's general fund, but they weren't.
Why It Matters
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Original Audit Finding Excerpt
"1.113 Review and analysis of the SLs of the Accounts Payable account revealed that unsupported and past due payables without valid and actual claims totaling P37,854,691.03 have been outstanding for more than two years but were not reverted to the general fund of the national government as required by the pertinent provisions of the aforementioned law, rules and regulations:"