Unreconciled Discrepancy Between Books and Physical Count
National Housing Authority · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency's records show a different amount of property than what was physically counted, and the difference of nearly 50 million pesos has not been explained.
Why It Matters
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Original Audit Finding Excerpt
"Comparison between the book balances and reports on Physical Count of PPE (RPCPPE) of machinery and equipment, transportation equipment, furniture and fixtures, and other PE revealed a discrepancy of P49.458 million, which remain unreconciled as at report date, contrary to Section 6.3 of COA Circular No. 2020-006."