Unreconciled and Dormant Balances in Due to GOCCs Account
Department of Public Works and Highways · 2024
Severity: HighRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Unreconciled BalancesThe department has outstanding balances owed to government-owned corporations that do not match records and have not been resolved, including negative amounts and accounts with no activity.
Why It Matters
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Original Audit Finding Excerpt
"Balance consists of unreconciled and dormant accounts which are still for verification and reconciliation."