Semi-expendable Properties Not Presented for Physical Inventory
Department of Public Works and Highways · 2024
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What Happened?
Category: Inventory ManagementIssue: Inadequate ControlsSome semi-expendable items (worth about P158,000) were not shown during the physical count, so auditors could not confirm they actually exist.
Why It Matters
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Original Audit Finding Excerpt
"Thirty nine semi-expendable properties with total cost of P158,693.00 were not presented during the conduct of physical inventory taking, thus, existence of said properties could not be properly established."