Unreconciled Differences in Property and Equipment Balances
National Housing Authority · 2024
This summary was generated automatically from the source document and may contain errors. It is not an official interpretation and should not be relied upon as legal guidance. Review the original excerpt and source document to verify before citing or acting on it.
What Happened?
Category: Financial ManagementIssue: DeficiencyThe amount of property and equipment shown in the financial records does not match what was actually counted during a physical inventory, with a difference of about 132 million pesos.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"c. Unreconciled differences between the balances in the FS and the Reports on the Physical Count of PPE (RPCPPE) resulted in a total discrepancy of P131.987 million."