Dormant and Unreconciled Balances in Books of Account
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency has many old and unresolved financial accounts—including unpaid bills, uncollected funds, and unliquidated cash advances dating back many years—that lack proper supporting documents and require reconciliation or formal write-off requests.
Why It Matters
Recommended Actions
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Original Audit Finding Excerpt
"A composite team was reconstituted for the elimination of dormant and unreconciled balances in the subsidiary ledger balances in the books of account of the Central Office per Special Order (SO) No. 231 s. 2024."