Escolar Documentos
Profissional Documentos
Cultura Documentos
There is a risk that additions to PPE Carrying amounts are not Chapter 10, Manual on Obtain movements in
are not properly recorded because of properly presented in the the New Government PPE during the year. On-going On-going
the following: financial statements. Accounting (MNGAS), Examine supporting
a. Cost recognized does not Volume I documents and
comply with the criteria on PPSAS No. 17 determine whether the
initial recognition acquisition cost is
(Valuation) correctly accounted or
b. Period costs are incorrectly measured under the
capitalized (Valuation) correct criteria.
c. Reclassifications from
construction in progress
were not properly done
d. PPE are not actually owned
by NIA (Rights and
Ownership)
Valuation and Allocation: Prior year assets are Chapter 10, Manual on Conduct review and On-going Draft AOM
Depreciation is erroneously misrepresented as to their the New Government analysis of
calculated in contravention with real value thereby affecting Accounting (MNGAS), depreciation schedule.
applicable standards. Depreciation the determination whether Volume I Determine assets with
of assets for 2011 and prior years is these are already fully PPSAS No. 17 zero useful lives and
done per lump-sum and not per depreciated and for ascertain whether they
asset. Depreciation schedule is not retirement. can already be
periodically updated and reviewed. considered for
retirement and/or
disposal.
PPE are not adequately insured for Assets may be exposed to RA 656 On-going On-going
possible losses. unnecessary risk of not Administrative Order Obtain an inventory of
being indemnified for any 33, August 25, 1987 the fixed assets and
damage or loss due to any COA Circular No. 92- ascertain whether or
fortuitous event and of third 390 not these are
party liability. insurable.
Procured assets may not
Compliance: Procurement of assets be in conformity with the RA 9184 (Government Conduct auditorial On-going On-going auditorial
is not in accordance with RA 9184. specifications required. Procurement Reform review of all review and
Unsatisfactory performance Act) procurements and inspection.
of ineligible contractors, COA Circular No. 2010- recommend sanctions,
Procurement of causing delays in the 003, January 1, 2010 if necessary. Conduct
goods delivery of goods. Executive Order No. 34 inspection of deliveries.
Prepared by:
Reviewed by:
ELENA L. AGUSTIN
Supervising Auditor