Erroneous recording of supplies and materials as outright expenses not fully implemented
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceSome supplies that should have been recorded as inventory were instead counted as expenses, and the correction is not yet complete.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"For the remaining amount of P28,305,266.93, the Accounting Unit will conduct a coordination meeting with the Supply Unit to cascade the proper guidelines set by COA with regards to the recognition, measurement, and recording of Inventory."