Unreconciled receivables and payables with other government agencies
National Housing Authority · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency's records of money owed to and from other government agencies don't match what those agencies say. The difference is over 1 billion pesos. This makes it hard to trust the financial reports. The agency was told to work with other agencies to fix the numbers, but it hasn't done so yet.
Why It Matters
Recommended Actions
- A. The AD to regularly coordinate with Bureau of Treasury (BTr) and other concerned agencies to determine the cause/s of discrepancy and effect necessary adjustments, if any, to arrive at reconciled balances;
Original Audit Finding Excerpt
"The balances of the receivables from and payable to other government agencies accounts differed by P989.535 million and P88.555 million, respectively, as compared to the balances confirmed by implementing and source agencies, thus, reliability, accuracy and validity of the reported account balances could not be ascertained."