Intra-Agency Payables Not Eliminated and Largely Unreconciled
Department of Public Works and Highways · 2024
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What Happened?
Category: Internal ControlsIssue: Control DeficiencyThe department has not cleared internal transactions between its own offices. Most of these balances are old and unmatched, and the department is waiting for approval to write them off.
Why It Matters
Recommended Actions
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Original Audit Finding Excerpt
"These reciprocal accounts are not eliminated at year-end and is still subject of ongoing reconciliation and verification. Majority of these accounts consist of unreconciled and dormant balances already requested for write-off and awaiting the COA’s approval/instructions."