We have looked into the audit areas which resulted from our risk assessments during the year as
well as those contained in the General Audit Instructions (GAIs) dated 30 October 2024 of the
Office of the Assistant Commissioner, Local Government Sector and in the Specific Audit
Instructions (SAIs) dated 11 November 2024 of the Office of the Regional Director, Local
Government Audit Sector. Attached is the Status of Implementation of the GAIs and SAIs as of
June 25, 2025 for references on the areas audited.
GAI/SAI Focus Area Remarks
A. Financial Audit
• Cash With bank reconciliation and bank
confirmation
• Accounts/Loans Receivables No audit finding
• Cash Advances, Fund Transfer and Other With audit finding - AO No. 7
Receivables
• Inventories Not audited in CY 2024
With audit finding No. 1 in Part III (CY
2023)
• Property, Plant, and Equipment/CIP With audit finding - AO No. 5
• Liabilities/Trust Liabilities No audit finding
• Revenues Not audited in CY 2024 – Due to lack of
material time.
• Significant Expenses With audit finding - AO No. 3
• Programs, Projects and Activities With audit finding – AO No. 4
B. Subsequent Events and Going Concern issues No significant event that may affect the
FS.
C. Outstanding Legal Cases None
D. Other Financial Related Issues
• Taxes withheld from employees and suppliers With preliminary information however,
and remittances to the Bureau of Internal audit could not be completed for lack of
Revenue (BIR) in accordance with RA No. material time.
8424 and its IRR under BIR RR No. 02798
• Premium contributions and loan amortization With preliminary information however,
to the Government Service Insurance System audit could not be completed for lack of
and Home Development Mutual Fund in material time.
accordance with RA No. 8291 and RA No.
9679, respectively
• Required annual inventory and insurance of With preliminary information however,
all insurable assets and interest of the audit could not be completed for lack of
government with the Government Service material time.
Insurance System in accordance with R.A.
No. 656, Property Insurance Law, as amended
by Presidential Decree No. 245 (COA
Circular No. 2018-002 dated May 31, 2018);
• Premium contributions and remittance to With preliminary information however,
PhilHealth in accordance with RA No. 7875, audit could not be completed for lack of
as amended material time.
