Unrecorded Issuances of Inventories
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe DPWH did not record when supplies and materials were used, so the books showed too much inventory and not enough expenses, making the financial statements inaccurate.
Why It Matters
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Original Audit Finding Excerpt
"Review and verification of records and transactions in various DPWH Offices disclosed non-recognition of the issuance of materials inventory and semi-expendable properties and equipment to end -users as at year-end."