Understated Cash Ledger Tax (CLT) Account Balance
Pulilan · 2023
Severity: ModerateRecommendation: Unknown
What Happened?
Category: Financial ManagementIssue: MisstatementThe municipality's cash account was reported at about 5,000 pesos less than it should have been because cash advances that were returned at the end of the year were not recorded.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"(a) the reported balance of the CLT account amounting to ₱30,141,696.25, was understated by ₱4,999.98 due to unrecognized collections from returns of cash advances as of year-end;"
