Unreconciled Receivables and Payables with Other Government Agencies
National Housing Authority · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceNHA's records of what it is owed and what it owes other government agencies do not match the records of those agencies, with differences of nearly P1 billion. This makes the financial statements unreliable.
Why It Matters
Recommended Actions
- A. The AD to regularly coordinate with Bureau of Treasury (BTr) and other concerned agencies to determine the cause/s of discrepancy and effect necessary adjustments, if any, to arrive at reconciled balances;
Original Audit Finding Excerpt
"The balances of the receivables from and payable to other government agencies accounts differed by P989.535 million and P88.555 million, respectively, as compared to the balances confirmed by implementing and source agencies, thus, reliability, accuracy and validity of the reported account balances could not be ascertained."