Erroneous Derecognition of Building
Department of Public Works and Highways · 2023
Severity: HighRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Non-complianceA building worth about P61 million was removed from the books by mistake, so its assets and surplus were not reported correctly.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"erroneous derecognition of building costing P60,960,325.40"