Derecognition of undisposed unserviceable equipment and non-derecognition of disposed unserviceable equipment involving P1.31 million
Department of Public Works and Highways · 2023
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What Happened?
Category: Financial ManagementIssue: Financial ReportingWhen equipment is unserviceable or has been disposed of, it should be removed from the accounting records. The DPWH had unserviceable and disposed equipment that remained on the books because the necessary documents or journal entries were not completed. Some offices have fixed this, but others are still working on it.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Derecognition of undisposed unserviceable equipment and non -derecognition of disposed unserviceable equipment – P1,308,766.53"