Dormant Construction in Progress Balances
Department of Public Works and Highways · 2023
Severity: HighRecommendation: Unknown
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What Happened?
Category: Property, Plant and EquipmentIssue: Non-complianceNearly 967 million pesos of unfinished construction projects have sat unchanged in the books for more than five years without management investigating why.
Why It Matters
Recommended Actions
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Original Audit Finding Excerpt
"Analysis of the CIP accounts of Regions III and X revealed that 524 items amounting to P966,732,078.53 have not been moving for over five years."