Significant accounts payable remained recorded due to delayed issuance of BTr certifications and DBM NCAAs
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceForeign donors already paid the bills, but the agency still listed them as unpaid because it did not complete the required NCAA and Treasury paperwork on time. This makes its financial statements inaccurate and misleading.
Why It Matters
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Original Audit Finding Excerpt
"significant portion of payables amounting to P3,125,236,616.15 have remained recorded in the books due to the delayed/non-issuance of Certifications and NCAAs by the BTr and DBM, respectively, for obligations incurred by DPWH and paid by ADB as at year-end."