Uninsured properties and equipment
Department of Public Works and Highways · 2024
Severity: ModerateRecommendation: Unknown
This summary was generated automatically from the source document and may contain errors. It is not an official interpretation and should not be relied upon as legal guidance. Review the original excerpt and source document to verify before citing or acting on it.
What Happened?
Category: Asset ManagementIssue: Non-complianceSome government buildings and equipment were not covered by insurance, leaving the government exposed to loss if something happened; the problem was still present.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Not Implemented Substantial items of PPEs were already insured in GSIS. However, similar observation was still noted during the year."