Reason for
Agency Action Plan (for Partially Implemented and Not Implemented Status a Partial/Delay/No Action Taken/Action
Recommendations) i piemen a . to be Taken
rf ap ee gee ine ee ent cee acne een ne eee | don | Implementation,|_ ee ae
if applicable
. Ref. Audit Observations | Audit Recommendations | Action Plan/ Target
| Remarks Implementation
This colunn shall be filed out by the | Person! | Date
agency, detailing the appropriate Rey onsible
course of action on the audit SPI
observation identified. [From_|To__|
2024 = | Borrowing costs | 11. Prepare the necessary | As recommended and as adherence to | PAccO June June | Full None Prepared necessary
AAR, | amounting to P adjustments in the | the requirement of IPSAS 5, 2025 2025 | Implementati adjusting entries
AO 5,035,754.82 were books to capitalize the | adjustment was made capitalizing on
No. 6, | expensed outright, borrowing costs | borrowing costs for CY 2024 per
page | which is inconsistent incurred in the | JEV100(01)-20250600820
52 with paragraph 18 of construction of the
IPSAS 5 that requires qualifying assets in | 10710030 $035,754.82
the capitalization of adherence to the | 30101020-03 5,035,754.82
borrowing costs for requirement of IPSAS
qualifying assets, 5. With accompanying transfer entries
thereby —_ overstating for General Fund-Proper and General
expenses and Fund -Loans, inclusive of Interest
understating asset Expenses for Jan-June 2025 in the
accounts, amount of P27,200,236,67;
JEV100(01)-20250600859
30101010 32,235,991.49
10710030 32,235,991.49
#
JEV100(21)-20250600003
10710030 32,235,991.49
30101010 32,235,991.49
2024 =| Unserviceable 12, The Provincial | The PAccO has already assigned Jan Dec On going | Lack of personnel | Ongoing reconciliation
AAR, | properties with an Accountant assigns | personnel to work on _ the 2025 2025 | implementati | in the PAccO| of accounts with
AO acquisition cost of personnel to focus on } reconciliation, verification and on office -— focal | PGSO
No. 7, | P2,872,383.09, whose completing and } maintenance of the PPELC. person also
page net book value could maintaining the designated as
54 not be determined due PPELC. This includes | The application on Inventory and Bindoy _ District
to incomplete ensuring thal each PPE | Procurement System integrated into
