The Commission on Audit revealed in the recently-posted 2018 BOC Annual Audit Report that the declared properties and equipment under the Property, Plant and Equipment account could not be relied upon on audit.
Under the GAM an agency is required to prepare and maintain records, forms, and reports by at least two departments to monitor the receipt, recording and issuance of items from the PPE. The PAR listed properties like buildings and other structures as “not applicable” while motor vehicles, information and communication technology equipment, office equipment, communication equipment, and furniture and fixtures as “INC” or incomplete.
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