Existence of Dormant Bank Accounts
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceDPWH had over P51 million sitting in old bank accounts that have been inactive for years, with no clear reason or documentation.
Why It Matters
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Original Audit Finding Excerpt
"Verification and validation of bank accounts maintained by two DPWH Offices disclosed that 11 accounts having a total balance of P51,857,083.39 were identified and found dormant by the Audit Teams as presented in the table that follows:"