Failure to derecognize disposed unserviceable equipment
Department of Public Works and Highways · 2023
This summary was generated automatically from the source document and may contain errors. It is not an official interpretation and should not be relied upon as legal guidance. Review the original excerpt and source document to verify before citing or acting on it.
What Happened?
Category: Financial ManagementIssue: Non-complianceOld equipment that was thrown away or sold is still listed as an asset on the books, so the agency's financial reports are not accurate.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"1st DEO in NCR, Bulacan 2nd DEO and Tarlac 1st DEO in Region III, and Tacloban City DEO in Region VIII to derecognize the unserviceable equipment already disposed of in the aggregate amount of P2,720,881.74; and"