Absence of Manual for Receivables Transactions Causing Presentation Lapses
National Housing Authority · 2023
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What Happened?
Category: Financial ManagementIssue: Internal Control DeficiencyBecause NHA did not have a written guide on how to handle receivables, the amounts shown for receivables were not reliable. The balances were P64.691 billion in 2023 and P47.050 billion in 2022, and these figures are questionable.
Why It Matters
Recommended Actions
- Fast track the preparation of the accounting manual that will serve as a guide for each personnel and/or responsible Unit/Office to cautiously comply with proper and systematic recording, reporting, and monitoring of beneficiaries’ transactions aligned with the provisions of applicable International Public Sector Accounting Standards
Original Audit Finding Excerpt
"the absence of a manual on the manner of recording, reporting, and monitoring of NHA's receivable transactions resulted in several lapses in the presentation of the Receivables account balances totaling P64.691 billion and P47.050 billion as at December 31, 2023 and 2022, respectively."