Annex A
Status of
Ref. Observation Recommendation Implementation/Results
of Validation
official receipts of the reviewing bodies in
Republic of the determining the
Philippines, contrary propriety of the fund
to Section 68 of release.
P.D.1445, hence,
transfer and receipt of
said funds could not
be properly
validated/accounted
for which may lead to
risk of loss and
wastage of
government funds.
AAR Balances of cash 50. The Municipal Unimplemented
2010 accounts shown in Accountant and
the general ledger Municipal Treasurer Reconciliations were
and the municipal effect the monthly initiated. However, due
treasurer’s cashbooks closing of the books to the high volume of
reflected only after the two work in the Accounting
discrepancies records are Office and shortage of
because the monthly reconciled. Accounting personnel,
reconciliation of not much time was
cashbook and ledger allocated for
balances of cash had reconciliation.
been discontinued in Nevertheless, the
violation of Section reconciliation procedures
181 (c) of the will continue until all
Government discrepancies are
Accounting and addressed.
Auditing Manual
Volume I, thus
casting doubt as to
the veracity and
correctness of the
account balance in
the financial
statements.
AAR Accounts receivable 51. Management notify Unimplemented
2010 amounting to the concerned
₱282,369.38 as of individuals or
