Uninsured properties and equipment
Department of Public Works and Highways · 2023
Severity: HighRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency has failed to insure billions of pesos of government buildings and equipment against risks like fire, earthquake, and typhoon. This leaves public assets unprotected and violates rules that require government property to be insured.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"CO-OSEC – P3,108,961,751.14 As of July 31, 2024, 2,537,459,475.45 remain uninsured."