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Friday, March 29, 2024

CoA flags NBI for ‘double liquidation’

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The Commission on Audit has called the attention of the National Bureau of Investigation for double liquidations in ledgers resulting in negative balances and understatement of its petty cash account that reached to over half a million pesos.

In an annual audit report, the state auditors said the review of related transactions and accounting records revealed liquidations of different custodians of petty cash funds in 2015 were posted twice in the subsidiary ledger in 2016.

“As of Dec. 31, 2017, these errors understated the petty cash account and overstated the accumulated surplus/deficit account by P537,106.35,” the report read.

CoA said there were at least 13 custodians responsible in the twice recording of P16,920, P28,334.75, P30,000, P29,856.50, P78,746.45, P46,280, P35,939.20, P100,000, P34,856.40, P30,000, P49,993.50, P26,179.55 and P30,000.

COA also said that the petty cash funds were not replenished despite the disbursements reached 75 percent. 

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