Non-reconciliation of balances between Report on Physical Count of Inventory and Stock Cards
Department of Public Works and Highways · 2023
Severity: ModerateRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Inaccurate ReportingThe physical count of supplies didn't match the stock cards by about half a million pesos, showing that the inventory records are off.
Why It Matters
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Original Audit Finding Excerpt
"a) Non-reconciliation of balances between the Report on Physical Count of Inventory (RPCI) and Stock Cards (SC) – P485,486.78"