Reason for
Agency Action Plan (for Partially Implemented and Not buplemented sates onton Partial/Delay/No Action Taken/Action
Recommendations) it u to be Taken
wenn fof | ce nee ne tf arene an pe ne nee | HO _____..|_ Implementation, | een es
: if applicable
| Ref. | Audit Observations | Audit Recommendations | Action Plan/ Target
| Remarks Implementation
i Person/ Date
This column shail be filled out by the Department
agency, detailing the appropriate Re, onsible ;
course of action on the audit P
observation identified. [From | To _|
cleansing initiative | To send a letter to the Provincial Awaiting for the | PAccO requesting
provided under COA | Accountant’s Office requesting copy PPE Ledger Cards | for copy of the
Circular 2020-006. of the PPE Ledger Cards to facilitate from the PAccO | PPE Ledger Card.
reconciliation with the Report on the for reconciliation
Physical Count of PPE, as part of the between the
preliminary activities in compliance RPCPPE,
with COA Circular 2020-006.
2024 =| The derecognition of | 15. The Provincial | The PAccO commits to ensuring that | PaccO Jan, Dec Implemented | Erroneous entry To record a correct
AAR, | items of Property, Accountant ensures | recognition of surplus or deficit of all 2025 2025 accounting entry for
AG Plant, and Equipment that all future disposals | future disposals of PPE complies with future transactions
No. 8, | (PPE) due to disposal of Property, Plant, and | provisions of IPSAS 17 and COA
page was incorrectly Equipment (PPE) | Circular No. 2015-009 and that all
56 reported as Other comply with the | entries be recorded under appropriate
Business Income, provisions of IPSAS 17 | accounts.
a while the carrying and COA Circular No.
value of the PPE was 2015-009. Specifically,
closed to Prior Year's gains or losses arising
Adjustment, which is from the derecognition
not consistent with of PPE are recognized
paragraph 83 of IPSAS in the surplus or deficit
17, resulting in the for the period and
overstatement of the tecorded under the
Other Business Income appropriate accounts.
account by
P2,080,073.96 and an
undetermined
misstatement of the
Gain/Loss on sale of
PPE.
ee" See eo [Bee |
AAR seven _ infrastructure in-depth analysis anda | that GPPB Circular No. 06-2019 implemented
