Unreconciled PPE Items Included in Other Assets
Department of Public Works and Highways · 2024
Severity: ModerateRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Internal Control DeficiencyThere are property and equipment items that don't match the records, and these have been parked in 'Other Assets' instead of being investigated and reconciled. This could hide missing or unaccounted assets.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Account balance consists of prior year’s balance of items in transit account, obsolete, fully depreciated, and unreconciled PPEs."