Unrecorded Assets in NHA Corporate and Business Centers
National Housing Authority · 2024
Severity: HighRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: DeficiencySome buildings and business centers owned by NHA are not listed in the accounting books because the necessary paperwork is missing, so their value is unknown.
Why It Matters
Recommended Actions
- Expedite the finalization of the Contract of Lease and Terms of Reference with the developer to establish the legal basis for the turnover and recognition of the NHA Corporate and Business Centers
Original Audit Finding Excerpt
"e. Unrecorded assets of undetermined value in the NHA Corporate and Business Centers due to the absence of supporting documents"