Unreconciled merchandise inventory for completed developments
National Housing Authority · 2023
This summary was generated automatically from the source document and may contain errors. It is not an official interpretation and should not be relied upon as legal guidance. Review the original excerpt and source document to verify before citing or acting on it.
What Happened?
Category: Financial ManagementIssue: Internal ControlNHA's records show a different number of completed housing units and land for sale compared to what actually exists. The difference is over 202 million pesos. This means NHA does not have accurate records of its inventory.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"The balance of Merchandise Inventory - Completed Development for Sale for both Land and Building recorded in the books do not reconcile with the actual units available for sale resulting in a total unaccounted difference of P202.020 million as at December 31, 2019."