STATUS OF
REFERENCE OBSERVATION RECOMMENDATION IMPLEMENTATION /
RESULTS OF VALIDATION
Section 4.5.1 of COA Circular COA Circular No. 92- 386 dated October 20,
2016-004 dated September 30, 1992, for dropping the account from the
2016. Hence, the existence and books.
condition as well as the reliability of Unimplemented
51. Proper disclosure shall be provided in the
the Biological Assets account
Notes to the Financial Statements in
balance could not be ascertained.
consonance with PPSAS No. 27 to provide
relevant information that might affect the
fair presentation of the financial statements.
2018 AAR Inter-agency and Other Receivable 52. The Municipal Accountant (a) conduct a Unimplemented
AO No.2, account balances totaling thorough verification and analysis of the
This was restated in the
Page 28 ₱1,151,040.95 had been dormant dormant receivable accounts and provide for
audit of CY 2024 accounts
for over 10 years due to the an allowance for impairment in accordance
as AO No. 10.
unavailability of documents to with the PPSAS or PFRS; (b) properly
validate the claim, however, no provide disclosure in the Notes to the
allowance for impairment of Financial Statements in consonance with
receivables was recognized as Section 127 of IPSAS No. 1 to provide
prescribed under paragraph 67 of information that may affect the fairness of
the Philippine Public Sector the financial statements; and (c) comply with
Accounting Standards (PPSAS) No. all the conditions and requirements of COA
29 and pertinent provision of COA Circular No. 2016-005 for possible filing of
Circular No. 2016-005 dated a request for authority to writeoff dormant
December 19, 2016, thus, accounts receivable accounts by the Local Chief
were not fairly presented in the Executive to the Commission on Audit.
financial statements.
2018 AAR Honoraria amounting to ₱96,000.00 53. Management submit the special project plan Unimplemented
AO No.12, were paid to members of the showing the outputs or deliverables per
The required documents
Page 48 KALAHICIDSS Municipal project component of each member of the
had not yet been prepared
Coordinating Team (MCT) without MCT to determine the estimated man-hours
and submitted to the
complying with the guidelines set spent by the latter, which shall serve as the
auditor.
forth under Department of Budget basis in the computation of their honorarium
and Management (DBM) Budget and the other aforementioned lacking
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