Unreconciled Discrepancies Between Book and Confirmed Bank Balances
Department of Public Works and Highways · 2024
Severity: HighRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Non-complianceDPWH's records showed money in the bank that the bank says does not exist, so the reported cash balance cannot be trusted.
Why It Matters
Recommended Actions
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Original Audit Finding Excerpt
"However, bank confirmation replies showed zero balances in the two LBP accounts, with one already reported as a closed account."