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SiPAT

Erroneous Recording of Prior Period Adjustments

Pulilan · 2021

Severity: ModerateRecommendation: Unknown

What Happened?

Category: Financial ManagementIssue: Misstatement

Some transactions that should have been recorded as continuing appropriations were mistakenly recorded as accounts payable, causing errors in the prior period financial records.

Why It Matters

Recommended Actions

No recommendations are available for this finding yet.

Original Audit Finding Excerpt

"Prior Period Adjustments are composed of transactions that opted to be transferred to continuing appropriations but erroneously recorded as Accounts Payable and Not Yet Due and Demandable Obligation (NYDDO) charged as payable."

Source Document

09-Pulilan2021_Part1-Notes_to_FS.docx

Pulilan · 2021 AAR · 11 files