Deficiencies in Property and Equipment (PE) Accounts Recording and Monitoring
National Housing Authority · 2023
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What Happened?
Category: Asset ManagementIssue: Non-complianceThe agency's property and equipment records worth P3.81 billion are unreliable due to missing location documents, misclassified housing sites, unserviceable items left on the books, and completed construction projects not properly transferred.
Why It Matters
Recommended Actions
- Submit the plans on the idle 12 satellite offices, three multi-purpose centers, other structures/land improvements, and equipment located at the BP2 Depot
Original Audit Finding Excerpt
"NATIONAL HOUSING AUTHORITY Elliptical Road, Diliman, Quezon City AGENCY ACTION PLAN and STATUS OF IMPLEMENTATION Audit Observations and Recommendations For the Years Ended December 31, 2023 and 2022 As of July 31, 2024 (DINU, 74 QU Chg Agency Acticn Plan Reason for Partial/Delay/ Ref. Audit Observations Audit Recommendations Target Implementation Status of Non- Action Taken/Action to be Taken Action Plan Person/Dept. Date Implementation | Implementation, Responsible From To if applicable _| A. FINANCIAL AUDIT T No.1 | The requirements of the | We recommended and Accounting January December International Public Sector Management or cow Department 2025 2025 Accounting Standards (IPSAS) 41 on F’ awial a. Formulate a policy on financial Not The Management, through the Accounting Instrim--* vere not complied | instruments that harmonizes with Implemented Department (AD), shall develop a policy on with, thus, the balances of | the provisions of IPSAS 41 on financial instruments consiste"