Stale checks not reverted to cash account
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceFour old checks that were never cashed were not officially taken back and put back into DPWH's cash records, so the reported cash and payable balances were wrong.
Why It Matters
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Original Audit Finding Excerpt
"Analysis of the reported balance of CIB -LCCA revealed that four commercial checks totaling P 60,000.00 drawn from the respective bank accounts of various DPWH offices have remained outstanding for over a year from the date of their issuance. These checks were issued for the refund of purchased bidding documents to the contractors concerned."