STATUS OF IMPLEMENTATION OF PRIOR YEARS’ AUDIT RECOMMENDATIONS
Of the remaining 88 audit recommendations, 17 were implemented and 71 were unimplemented, as shown in the results of validations
presented below:
Status of
Ref. Audit Observation Audit Recommendation Management Comment/Action
Implementation
AAR The carrying value of the Property, 1. We recommended and the Municipal An entry to adjust the Implemented
2023 Plant, and Equipment (PPE) other than Accountant agreed to review the records Accumulated Depreciation for the
the Land and Road Network account as of the affected accounts, determine the unrecorded depreciation expenses
of December 31, 2023, is overstated by correct date of acquisition of the property, in CY 2023 had already been
₱2,280,930.35 due to non-recognition and prepare the corresponding adjusting recorded.
of depreciation expense, which is not entries, if necessary, to recognize the
in accordance with IPSAS 17 and depreciation for the period in accordance
Section 262 of the GAM for LGUs, with IPSAS 17 and Section 262 of the
Volume 1, thus affecting the fair GAM for LGUs, Volume 1.
presentation of PPE accounts in the
financial statements. 2. We likewise recommended and the The items recorded in the PPE Implemented
Municipal Accountant agreed to check the accounts only included those that
accuracy of PPE accounts recorded in the meet the capitalization threshold.
Trust Fund books and verify if there are
items included in the account but did not
meet the capitalization threshold required
and prepare the adjusting entry if
necessary, in compliance with Section139,
of the GAM for LGUs, Volume 1.
AAR The accuracy and reliability of the 3. We recommended and the Municipal The Municipal Accountant still Not
2023 Local Road Network (LRN) with a Accountant agreed to record the had to coordinate with the Implemented
reported net balance of ₱19,085,061.72 accumulated depreciation of the additional Municipal Engineer’s Office for
could not be ascertained due to : (a) the road networks, net of the cost of road lots, the updated records since the latter
non-conduct of an inventory of local prepare the necessary corrections, and had already implemented the
roads and the non-preparation of the provide the required disclosures in the geotagging.
Report on the Physical count of Local notes in accordance with IPSAS 17 and
Road Network (RPCLRN); (b) the
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