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SiPAT

Misclassification of Intangible Assets as Property, Plant and Equipment

Pulilan · 2021

Severity: HighRecommendation: Unknown

What Happened?

Category: Financial ManagementIssue: Classification Error

Computer software, which is an intangible asset, was incorrectly recorded under property, plant, and equipment in earlier years, leading to incorrect financial statement classifications.

Why It Matters

Recommended Actions

No recommendations are available for this finding yet.

Original Audit Finding Excerpt

"The account was included in the PPE account in previous years."

Source Document

09-Pulilan2021_Part1-Notes_to_FS.docx

Pulilan · 2021 AAR · 11 files