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                                                                  Status of
Ref.          Observation            Recommendation         Implementation/Result
                                                               s of Validation
                                    required           in
                                    Section 8.3 of
                                    COA Circular No.
                                    2020-006, to take
                                    full advantage of
                                    the         one-time
                                    cleansing
                                    privilege afforded
                                    by                the
                                    Commission and
                                    establish accuracy
                                    of      its     PPE
                                    balances reported
                                    in the financial
                                    statements.
AAR Disclosures in the Notes to 4. The        Municipal     Implemented
2023 Financial Statements on the    Accountant revise
, AO “Loans          Payable      – the Notes to the        The Loans Payable -
no. 2, Domestic” account balance    Financial               Domestic account was
page of ₱127,775,332.28 are         Statements         to   already         disclosed
22     incomplete, a departure      include           the   properly in the Notes to
       from the fair presentation   principal amount,       Financial     Statements,
       requirement under the        interest        rate,   containing the necessary
       International Public Sector  maturity        date,   information required by
       Accounting        Standards  amount for each         IPSAS.
       (IPSAS), thus affecting the  purpose,         and
       usefulness of the financial  interest expense of
       information on loans to its  the           Loans
       users,     especially    its Payable—
       constituents.                Domestic account
                                    to properly inform
                                    the users of the
                                    financial
                                    statements about
                                    the       municipal
                                    government's
                                    financial
                                    performance,
                                    particularly       in



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