1.5 The codes for the PPE sub-major account group and General Ledger account
correspond to those provided in the Revised Chart of Accounts prescribed under
the Accounting Manuals of the respective Sectors (National, Local and
Corporate). Additional digits may be used for serial number and location/office,
as necessary.
1.6 However, we observed that the unique Property Number for each PPE item was
not adopted and no property stickers were tagged to each PPE item, thus
accountability and control over the custody and use of the PPE cannot be clearly
established, hence the existence, completeness and condition of all PPE owned
by the Agency cannot be ascertained.
1.7 Section 7 of the Circular further provides that for easy identification, the Property
Number shall be prominently shown in the property sticker, in addition to the
following vital information on the PPE item:
a. Description of the property
b. Model Number
c. Serial Number
d. Acquisition Date/Cost
e. Person Accountable
f. Space for the validation/signature of the Inventory Committee
c. Non-submission of the approved PIP
1.8 Sections 5.9, 5.10, and 5.11 of the Circular require that, in coordination with the
Property Division/Unit, the Inventory Committee shall plan/strategize on how to
conduct and complete the physical inventory within the prescribed period. It shall
prepare a Physical Inventory Plan (PIP) containing, at the least, the specific
assignments/duties of the Committee members, the cut-off date, and a schedule
specifying the dates and locations of the inventory taking activities from start-up
to the targeted completion of the physical inventory. The PIP, which must be
approved by the Head of the Agency, is required to be submitted to the COA
Audit Team by the Inventory Committee at least ten (10) calendar days before
the scheduled start of inventory activities.
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