Unsupported and Non-Existent Asset Balances Due to Missing Documents
National Housing Authority · 2023
Severity: ModerateRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Internal ControlThe agency cannot prove where some of its properties are located or if they even exist because the necessary paperwork is missing, so the reported amounts cannot be trusted.
Why It Matters
Recommended Actions
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Original Audit Finding Excerpt
"absence of supporting documents identifying the location of properties, totaling P9.395 million"