Cash in Bank Account Overstatement Due to Unreconciled Items
National Housing Authority · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe bank account balance in the books was not correct because some transactions were not recorded or adjusted. This made the cash balance appear higher than it actually was.
Why It Matters
Recommended Actions
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Original Audit Finding Excerpt
"16 AGENCY ACTION PLAN and STATUS OF IMPLEMENTATION RESULTS OF COA VALIDATION Ref. Audit Observations Audit Recommendations Agency Action Plan Status of Implementati on Reason for Partial/Delay / Non- Implementation, if applicable Action Taken/Action to be Taken Date of Follow- up Status of Implemen- tation Actual Implementation Date Remarks Action Plan Person /Dept. Responsible Target Implementation Date From To From To g. Properly account and conduct the disposal of unserviceable PE items; Conduct disposal of unserviceable PE items. Not Implemented computer, Mitsubishi Strada, and Property and Equipment Return Slip for computer set in RDTF Reg2 -2024-306, as well as the RTK set per RDTF No. Reg2 -"