Fully depreciated assets still in use and reported
National Housing Authority · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency still reports assets that are fully depreciated but still being used, which may mean they have not been properly removed from the books.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Fully depreciated PE such as office equipment, information technology equipment, motor vehicles, and other PE acquired in CYs 1977 to 2018 that are still in use, are still reported unless disposed of or destroyed. These assets have an aggregate residual value of P57.871 million as at December 31, 2023."