Abnormal and Negative Balances in Advances to Contractors
Department of Public Works and Highways · 2023
Severity: ModerateRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Financial ReportingSome contractor advance accounts had negative or unusual balances, suggesting bookkeeping errors that could distort the financial statements unless corrected.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Abnormal/negative balances – P4,581,565.46"