Management Status of
Ref. Audit Observation Audit Recommendation
Comment/Action Implementation
Accounting Manual (GAAM) 22. revisit its existing policy in the hiring of Management still had not Not Implemented
and Civil Service Commission JOs/COS and review the existing number taken any action.
(CSC) Resolution No. 02- of personnel under the said employment
1430, thus, the necessity of status to avert possible duplication of the
employing these personnel and work of regular employees.
their accomplishment could
not be properly assessed.
AAR The valuation and accuracy of 23. We recommended that the Management The Municipal Accountant Implemented
2022 Property, Plant and Equipment require the Municipal Accountant to had already verified its
(PPE) with a net book value of verify its records, review and analyze its records and prepared the
₱244,137,404.11 could not be depreciation schedule taking into corresponding adjusting
relied upon due to: (a) non- consideration the provisions provided entry.
recognition of depreciation under PAG 4 and PAG 6 of IPSAS 17 to
expense on PPE accounts arrive at an accurate and reliable carrying
under the Trust Fund (TF) balance of the PPE, and thereafter
which were not transferred to prepare the appropriate adjusting entries.
the General Fund (GF); (b)
inconsistent application of the 24. We further recommended that the The Municipal Accountant Implemented
five percent (5%) residual Accounting Office transfer the had already transferred the
value in computing completed PPE accounts from the TF to completed projects under
depreciation expense; and, (c) the GF pursuant to Sections 97 and the Trust fund to the
inclusion of semi-expendable 104(i) of the MNGAS, and maintain the General Fund.
items under the PPE accounts, corresponding Property/Equipment
contrary to International Ledger Cards so that proper monitoring
Public Sector Accounting and accurate computation of
Standards (IPSAS) 17 and depreciation for each PPE can be
Sections 97 and 104(i) of the generated.
Manual on the New
Government Accounting
60
