Incomplete Recording of Approved Group Award/Sales Reports
National Housing Authority · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceNumerous sales report batches were left unrecorded in the books due to delayed submissions and lack of integrated software systems, causing understatements in several receivable accounts.
Why It Matters
Recommended Actions
- Ascertain the complete recording of the GA/SRs by checking the sequential series of the approved GA/SRs as well as cancelled awards and Schedule of Rebates for each project prior to the preparation of the SRR;
Original Audit Finding Excerpt
"Comparison of the balances per books with the SOBAL using the accomplished template, and an examination of awarded sale transactions reported in the SReg for CY 2024 of the SO/RO/DOs revealed that there are 524 lacking series of SRs which were not recorded in the books. To wit:"