Material variances between PPE books and physical count/RPCPPE
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Internal Control DeficiencyThe recorded value of property and equipment does not match the results of the physical inventory, leaving a huge gap of over 303 billion pesos. The books and the physical count need to be reconciled.
Why It Matters
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Original Audit Finding Excerpt
"The recorded PPE of DPWH Offices showed a total variance of P303,383,017,965.80 as against the physical count presented in their respective RPCPPE."