Semi-expendable property misclassified as PPE not fully implemented
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceItems that cost too little to be considered fixed assets were incorrectly labeled as property and equipment; the correction is still incomplete in several offices.
Why It Matters
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Original Audit Finding Excerpt
"In Albay 2 nd DEO and Camarines Sur 5 th DEO, reconciliation of the other PPE Accounts is still ongoing. In Zamboanga del Sur 2nd DEO, the Finance Section is still awaiting for the List of Semi -Expendable Reports from the Supply Unit, which will serve as the basis for transferring the PPEs to its proper Semi-Expendable account."