Management Status of
Ref. Observation Recommendations
Comments/Actions Implementation
2007 AAR The cashbook and ledger 60. Required the Municipal Ongoing. Unimplemented
balances of the cash accountsAccountant and the
under the General, Special Municipal Treasurer to
Education and Trust Funds reconcile the cashbooks
showed a total difference of with the corresponding
₱510,204.42 as of December subsidiary ledgers and
31, 2007 cause the
prepare the necessary
accountable officers and the adjusting entries to
Municipal Accountant did correct the cash balance
not reconcile their records as
as of December 31, 2007.
required in Section 181 © of
the Government Accounting
and Auditing Manual
(GAAM), Volume 1, thus
affecting the fairness of
presentation of the cash
account in the financial
statements.
PY AAR The LGU did not create an 61. We recommended that No action. Unimplemented
internal Audit Service (IAS) LGU Management
as mandated per should evaluate and take
Administrative Order No. 70 into consideration the
dated April 14, 2003 of the advantages in creating an
President of the Philippines, Internal Audit Service, so
resulting to a less efficient that Management may
and effective fiscal achieve efficient and
administration of agency effective fiscal
affairs and functions administration and
performance of its affairs
and functions.
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