Dormant receivable with no available breakdown
National Housing Authority · 2024
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What Happened?
Category: Financial ManagementIssue: RecordkeepingAn account balance of over 3.3 million pesos has remained inactive and lacks supporting transaction details since it was transferred to the agency in 2005.
Why It Matters
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Original Audit Finding Excerpt
"It also consists of P3.382 million in NGC which has no available breakdown and has remained dormant since its transfer from the Home Guaranty Corporation’s (HGC), now Philippine Guarantee Corporation (PHILGUARANTEE), Controllership Department to NHA in CY 2005 based on the Audited Financial Statements and Schedules as at March 31, 2005."