Understatement of Due from NGAs
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency removed some old and unreconciled receivables from the government without proper support, which made the 'Due from NGAs' account too low.
Why It Matters
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Original Audit Finding Excerpt
"b) Understatement of Due from NGAs account due to unsupported/ unauthorized derecognition of dormant and unreconciled balances under Procurement Service – Department of Budget and Management (PS -DBM) account 0.00 Due from NGAs Accumulated Surplus/(Deficit) 234,788,230.24 234,788,230.24 ✓"