Unreplenished petty cash fund expenses not recognized
Department of Public Works and Highways · 2024
This summary was generated automatically from the source document and may contain errors. It is not an official interpretation and should not be relied upon as legal guidance. Review the original excerpt and source document to verify before citing or acting on it.
What Happened?
Category: Financial ManagementIssue: Non-complianceDPWH paid P67,000 of small expenses out of petty cash but did not replenish or record them, so expenses were understated and petty cash was overstated.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Review and verification of Subsidiary Ledgers (SLs) and transactions disclosed that petty operating expenses incurred for CY 2024, aggregating P67,214.05 and paid out of the PCF of some DPWH offices, were not replenished and recognized in the books as at year -end due to the non-submission by th e PCF Custodian of unreplenished petty cash vouchers (PCVs) to the Accounting Division/Section for reporting."