Status of
Ref. Observation Recommendations Implementation / Results
of Validation
valuation and accounting thereof
in accordance with IPSAS 27.
44) Henceforth, the City Mayor Unimplemented
ensure the conduct of the annual Ongoing
physical count of all biological implementation of the
assets owned by the City. recommendation
2022 15) The liability accounts under Management require the City
AAR, the GF and TF include items with Accountant to:
AO abnormal/negative balances totaling
No.4, ₱4,171,604.59, which were left 45) Retrieve the relevant documents Unimplemented
page uncorrected, contrary to Paragraph pertaining to the liability As of December 31,
47 27 of IPSAS 1, thus, making the accounts to identify the 2024, there were still
balances unreliable and unrealistic accounting entries that have liability accounts
and adversely affecting the fairness contributed to the abnormal with negative
of the presentation of the liability balances and prepare the balances.
accounts in the financial statements. necessary JEV to rectify any
errors that may be discovered;
and
46) Conduct regular monitoring of Unimplemented
the subsidiary ledgers of each As of December 31,
account in the trial balance to 2024, there were still
ensure the accuracy and liability accounts
reliability of the balances with negative
presented in the financial balances.
statements and help prevent the
occurrence of abnormal balances
within individual accounts.
2022 16) The Advances to Officers and 47) The City Mayor thru the City Unimplemented
AAR, Employees account as of December Accountant send demand letters This is reiterated in
AO 31, 2022, includes unliquidated cash to the concerned city employees the audit of CY 2024
No.5, advances granted to city employees to immediately submit the accounts as AO No.
page for traveling expenses and expenses liquidation documents to the 5.
52 incurred for the Buglasan Festival in CAO and cause the refund of any
the total amount of ₱1,618,880.99, unexpended balance of their cash
the purposes for which have already advances.
been served, contrary to Section 89
of P.D. No. 1445 and COA Circular 48) Henceforth, the City strictly Unimplemented
No. 97-002, resulting in the adhere to the laws, rules, and This is reiterated in
overstatement of the receivable regulations on the grant, the audit of CY 2024
account and understatement of the utilization, and liquidation of accounts as AO No.
related expense accounts of the City. cash advances. It is emphasized 5.
that continued failure of the
accountable officials and
employees to liquidate their cash
advance within the prescribed
period shall constitute a ground
for the withholding of their
honoraria as provided for under
COA Circular No. 97-002 and is
a “prima facie” presumption of
malversation under Article 217
70
