Reclassification of Work-in-process Inventory
National Housing Authority · 2024
Severity: HighRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Non-complianceCompleted housing projects were moved from work-in-progress to finished goods and receivables from local governments.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"A total of P16.279 billion in Work-in-process inventory was reclassified to Merchandise inventory, PE for distribution and Due from LGUs."