Absence of accounting manual for receivables leading to qualified opinion
National Housing Authority · 2022
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What Happened?
Category: Financial ReportingIssue: Non-complianceThe absence of a proper accounting manual for receivables led to a qualified audit opinion due to unverified balances and reporting lapses.
Why It Matters
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Original Audit Finding Excerpt
"Republic of the PAhilippines COMMISSION ON AUDIT Commonwealth Avenue, Quezon City, Philippines CORPORATE GOVERNMENT AUDIT SECTOR CLUSTER 2 — SOCIAL SECURITY June 30, 2023 Ce Mr. JOEBEN A. TAI Rogelo lov General Manager tice o General Manage National Housing Authority — 6 J ZO Ae Z / Elliptical Road, Diliman, Quezon City Pursuant to Section 2, Article IX-D of the Philippine Constitution and Section 43 of Presidential Decree No. 1445, otherwise known as the Government Auditing Code of the Philippines, we transmit herewith our report on the results of the audit of the accounts and transactions of the National Housing Authority (NHA) for the years ended December 31, 2022 and 2021. Dear General Manager Tai: The report consists of the Independent Auditor’s Report, Audited Financial Statements, Observations and Recommendations, and the Status of Implementation of Prior Years’ Audit Recommendations. The Auditor rendered a qualified opinion on the fairness of presentation of the financi"