STATUS OF IMPLEMENTATION OF PRIOR YEARS’ AUDIT RECOMMENDATIONS
Of the 54 prior years’ recommendations, 20 were implemented and 34 were unimplemented as shown in the results of validations
presented below:
Management Status of
Ref. Observation Recommendations
Comments/Actions Implementation
2023 AAR, The correctness of Cash in 1. We recommended and Adjusting entry was prepared Implemented
AO No. 1, Bank balance per books in the Municipal via Journal Entry Voucher
page 46 the amount of Accountant agreed to (JEV) No. ADJ-2024-001
₱126,995,959.55 as of reconcile the records per dated July 31, 2024.
December 31, 2023, could books with the results of
not be ascertained due to the bank confirmation
unreconciled amounts and to prepare the
between the financial necessary adjusting
statements and confirmed entries in the books of
bank balances, which is not accounts to present the
in accordance with Section correct balance of the
74 of P.D. 1445, resulting in Cash in Bank account as
an understatement of the of year-end.
Cash in Bank Balance of
₱5,296,064.44.
2023 AAR, Cash – Local Treasury 2. We recommended and Regular reconciliation had Implemented
AO No. 2, account balance per general the Municipal Treasurer been practiced.
page 47; ledger of ₱836,575.86 as of and the Municipal
2015 AAR, December 31, 2023, does not Accountant agreed to
AO No. 1, reconcile with the cashbook reconcile their records
page 28; balance of ₱715,909.96, monthly so that any error
2010 AAR, resulting in an unreconciled in recording can be
AO No. 5 difference of ₱120,665.90, adjusted and corrected
thus affecting the fair immediately.
presentation of the recorded
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