Qualified Opinion on Consolidated Financial Statements
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe auditor found significant errors in the department's financial records, totaling over 17 billion pesos, which means the financial statements do not accurately reflect the department's financial position.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"the Auditor rendered a qualified opinion on the fairness of presentation of the consolidated financial statements of DPWH due to accounting errors, omissions and improper accounting treatment of transactions resulting in the aggregate misstatements of P17,673,264,666.82"