Increase in Allowance for Impairment of Receivables
National Housing Authority · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe company increased its provision for bad debts on a receivable from the Department of Transportation, reducing the value of receivables.
Why It Matters
Recommended Actions
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Original Audit Finding Excerpt
"The carrying amount of Current receivables decreased by P626.021 million was due to the increase in the estimated allowance for impairment of Receivable from the Department of Transportation (DOTr) for the lease of the North Triangle property covered by a Contract of Lease."