Non-recording/Non-accrual of CY 2024 Expenses
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe DPWH did not record some expenses in the year they happened, making its financial statements understate costs and liabilities for that year.
Why It Matters
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Original Audit Finding Excerpt
"Review of records and analysis of transactions in the books of accounts disclosed that expenses incurred by different DPWH Offices in CY 2024 with an aggregate amount of P6,499,149.87 were not recognized in CY 2024, but rather in CY 2025."