Unremitted GSIS premiums, contributions, and loan amortizations
Department of Public Works and Highways · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency has not fully remitted the employee insurance premiums, contributions, and loan payments it withheld to the Government Service Insurance System. This may delay or deny employees their benefits and could result in interest or penalties.
Why It Matters
Recommended Actions
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Original Audit Finding Excerpt
"CO-OSEC – P 16,502,474.82 Performance of analysis, validation and reconciliation of Due to GSIS accounts is currently taking place."