Cagayan de Oro City 2nd DEO: Missing Documents for Derecognition of CIP Accounts
Department of Public Works and Highways · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe office had only moved about a third of the finished project costs out of the 'under construction' account because the necessary construction paperwork had not been handed over.
Why It Matters
Recommended Actions
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Original Audit Finding Excerpt
"1,664,197,131.58 Documents required for the derecognition of CIP accounts are yet to be submitted by the concerned personnel from the Construction Section/ Implementing Unit - Out of the total amount of deficiencies, P506,234,459.69 are reclassified and with JEVs."