Unrecognized Compromise Agreement Amount
National Housing Authority · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe NHA has a court-approved settlement of over 1 billion pesos that is not recorded in its books.
Why It Matters
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Original Audit Finding Excerpt
"The compromise agreement, amounting to P1.122 billion, entered into by the NHA with a contractor to amicably settle the litigation under CA-GR CV No. 99324 dated February 7, 2018, was approved by the Court of Appeals based on the Decision issued on May 30, 2019. The amount of P1.122 billion is not yet recognized in the books pending the submission of the claim for settlement to the proper authorities, pursuant to Section 20(1), Chapter IV, Subtitle B, Title I, Book V of EO No. 292."