Material dormant and inactive accounts remained unsettled
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Internal control deficiencyThe agency has billions of pesos in old accounts that have been sitting on its books for years without being collected, paid, or cleaned up.
Why It Matters
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Original Audit Finding Excerpt
"The above dormant balances refer to accounts that have been inactive or non-moving in the books for five years or more, with their settlement or collectability now uncertain. Other balances are still undergoing reconciliation and verification, while some have already been requested for write-off."