Dormant Advances to Contractors totaling P518,493,182.67
Department of Public Works and Highways · 2024
Severity: HighRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: WeaknessThe agency had over P518 million in old advance payments to contractors that had not been recovered. It sent demand letters and asked permission to write off a small part.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Existence of dormant account balances of Advances to Contractors account– P518,493,182.67"