Dormant Asset and Liability Accounts
National Housing Authority · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceSome old accounts in the books have not been settled for many years, and there are no documents to prove they are real. This makes the financial statements unreliable.
Why It Matters
Recommended Actions
- Enhance the memorandum issued to RO/SO/DO offices by including a detailed matrix or schedule of total outstanding dormant accounts, including all inter-agency fund transfers to LGUs per RO/SO/DO offices
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 -"