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What is Audit Findings on PPE Account Discrepancies about?

The audit found issues with the Property, Plant and Equipment (PPE) accounts of the local government unit totaling P2.197 billion. Specifically: - 16 PPE accounts totaling P543 million were subjected to physical count but the accounting records did not reconcile with the physical count report, showing a difference of P163 million. - 18 other PPE accounts totaling P1.653 billion were not subjected to physical count at all, contrary to accounting guidelines. This rendered the balances of the PPE accounts in

Author

J Ja

Language

EN