Unaccounted or missing property, plant and equipment totaling P131,029,056.98
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Internal Control DeficiencyThe agency is carrying millions of pesos of equipment and other property on its books that cannot be found or accounted for. This may mean poor controls or possible loss/theft of government property.
Why It Matters
Recommended Actions
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Original Audit Finding Excerpt
"Analysis of the PPE accounts disclosed various items totaling P131,029,056.98 that are missing and unaccounted but remain recorded in the books of accounts, summarized as follows:"