CEBU CITY, Philippines — The Commission on Audit has asked the Capitol to reflect the “correct and true account balances” and ensure the fair presentation of its accounts in its financial
COA said the Capitol’s Cash in Bank-Local Currency, Current Account in 2019 included balances of accounts that are either closed or non-existent. | CDN Digital file photo
Those included of the closed and non-existent accounts resulted in an overstatement of P504,004.11 in the Cash in Bank-Local Currency, Current account for the year 2019.
The bulk of the said overstated amount is under the non-existing account of the Mandaue District Hospital which is not among the hospitals managed by the Cebu provincial government. “Confirmation made from the bank on the covering accounts disclosed that these were already closed due to change/transfer of bank account to another branches,” COA said.
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