Unreconciled Variance Between Book and Physical Count of Property and Equipment
National Housing Authority · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe records for property and equipment do not match the actual physical inventory. The difference is about P132 million for 2024 and P49 million for 2023, so the reported values may be wrong.
Why It Matters
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Original Audit Finding Excerpt
"unreconcled variance of P131.987 milion and P49.458 milion for Cs 2024 and 2023, respectively, noted between the book balances and the Report on the Physical Count of Property, Plant, and Equipment."