Delayed or Non-recording of Accounts Payable
Department of Public Works and Highways · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe DPWH recorded expenses and debts in the wrong year. For example, work done in 2023 was not recorded until 2024. This makes the financial statements for each year inaccurate and hides the true financial position.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"1.118 Review of records and analysis of transactions in the books of accounts disclosed that projects completed, goods delivered and services rendered in CY 2023 in the aggregate amount of P3,615,094,414.87 were not recognized as payables in different DPWH Offic es in CY 202 3, but rather CY 202 4."