The agency failed to record certain bank transactions, causing the cash balance to be overstated by about 740 thousand pesos, and there are no supporting documents to explain the discrepancies.

Why It Matters

Recommended Actions

• Set up a meeting with bank officers of depository banks to obtain debit and credit memos, along with their supporting documents, pertaining to the reconciling items reflected in the BS

Original Audit Finding Excerpt

"Page 55 of 90 AGENCY ACTION PLAN and STATUS OF IMPLEMENTATION AS AT AUGUST 31, 2025 RESULTS OF COA VALIDATION Ref. (No. in the AAR) Audit Observations Audit Recommendations Agency Action Plan Status of Implementation Reason for Partial/Delay/ Non- Implementation, if applicable Action Taken/Action to be Taken Date of Follow-up Status of Implementation Actual Implementation Date Remarks Action Plan Person/ Department Responsible Target Implementation Date From To From To 23 and 21 including 20 per cent premium totaling P2.358 million as at August 31, 2024, contrary to Section 4.1.b of Commission on Audit (COA) Circular No. 2021-003 dated July 16, 2021 and Sections 7.0 and 11.0 of COA -DBM Joint Circular (JC) No. 2, s. 2020 dated October 20, 2020, and amended Section 11.1 of COA -DBM JC No. 2, s. 2022 dated November 10, 2022. s. 2020, prior to hiring COS lawyers. monitor continuing compliance with COA Circular"

Source Document