Incomplete Recording of Approved Group Award/Sales Reports
National Housing Authority · 2022
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What Happened?
Category: Financial ManagementIssue: Non-complianceApproved sales and award reports were not properly or sequentially recorded in the sales register, causing receivables to be understated and inventory and deferred credits to be overstated.
Why It Matters
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Original Audit Finding Excerpt
"Comparison between balances per books and SOBAL using the accomplished template submitted by QCDO, and examination of awarded sale transactions for CY 2022 of other NCR DOs revealed that the series of GA/SA were not sequentially recorded in the SRR, with an estimated 177 lacking series"