Dormant account balances for Due to DPWH and Due to NHMFC without breakdown
National Housing Authority · 2022
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe company has old debts to government agencies that have not changed for many years and lack detailed breakdowns, making it difficult to verify or settle them.
Why It Matters
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Original Audit Finding Excerpt
"This account includes the non-moving balance of Due to DPWH amounting to P118.615 million and Due to NHMFC amounting to P75.500 million in NGC which has no breakdown and has been dormant since its transfer from the HGC to NHA in CY 2005 based on the Audited Financial Statements and Schedules as of March 31, 2005."