Inaccurate Presentation of NGC Accounts
National Housing Authority · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency has been reporting incorrect amounts for certain accounts for many years, which misrepresents its financial position.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"98 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 a. Liquidate and/or return the unused fund including the interest thereof to the Source Agency for those trust liability accounts which are nonmoving and had already been completed; and Not Implemented conducted to verify if the amount recorded in the Trust Fund is the same amount received from the beneficiaries of CLSU Employees"