Long-outstanding advances to contractors
National Housing Authority · 2024
Severity: HighRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency has money given to contractors that hasn't been recovered for over five years, which is a problem.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Advances to contractors represent the 15 per cent advance payment for mobilization that has not yet been recouped due to the termination, suspension, or rescission of contracts. These advances have been non-moving for five years or more."