Discrepancy in Receivables and Payables 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: Non-complianceThe financial records for money owed to and from other government agencies do not match the amounts confirmed by those agencies, making the reported balances unreliable and inaccurate.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Agency Action Plan Reason for - Partial/Delay/ Ref. Audit Observations Audit Recommendations ; Target Implementation Status of Non- Action Taken/Action to be Action Plan Person/Dept. Date Implementation Implementation, Taken Responsible From To if applicable communication of the deficiencies noted in the review, if any. CY 2021 AAR CY 2021 The balances of the |a. The AD to regularly Accounting June 2025 | December | Not implemented AAR receivables from and payable | coordinate with Bureau of Department 2025 Observation | to other government agencies | Treasury (BTr) and other No. 3, page | accounts differed by P989.535 | concerned agencies to All Concerned 87 million and P88.555 million, | determine the cause/s of SO/ROs 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. discrepancy and effect necessary adjustments, if any, to arrive at reconciled"