Absence of accounting manual for receivables
National Housing Authority · 2022
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What Happened?
Category: Financial ManagementIssue: DeficiencyThe agency does not have a proper guide for handling receivables, which caused errors in reporting large amounts of receivables, making them unreliable.
Why It Matters
Recommended Actions
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Original Audit Finding Excerpt
"(a) absence of a manual on the manner of accounting, reporting and monitoring of NHA’s receivable transactions which resulted in several lapses in the presentation of the Receivables account totaling P29.493 billion and P70.190 billion as at December 31, 2022 and 2021, respectively, that rendered doubtful the balances of the Receivables and related accounts;"