Other Errors and Omissions in Recording Accounts Payable
Department of Public Works and Highways · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe DPWH made several mistakes in recording its accounts payable. For instance, some payments that had already been made were still listed as debts, and some transactions were recorded in the wrong accounts. This distorts the financial records.
Why It Matters
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Original Audit Finding Excerpt
"1.123 Review of the Accounts Payable account balance also disclosed the inclusion of payables that were already paid or without supporting documents and the erroneous recording of settlement of liabilities and accrual of services not yet rendered in the aggregate amount P4,630,780.85."