Long Outstanding Advances to Contractors
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Internal Control DeficiencyThe agency has given contractors more than 9 billion pesos in advance payments that haven't been settled or documented. Some contractors are delaying submitting their final bills, and for some advances the agency doesn't even know why they're still outstanding.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Advances to Contractors represents unrecouped long outstanding advances to contractors due to the delayed/non-submission of the contractors concerned of the documents for final billing and other unknown reasons."