'We must thoroughly investigate this, review all details, and respond appropriately,' says Cebu City legal officer Jerone Castillo, adding that the concerns raised in the audit report have been referred to the city's legal department for further review.
CEBU CITY, Philippines – The Commission on Audit has flagged the Cebu City government for inaccuracies and errors in its 2022 financial statements.
State auditors noted that the city government posted P2.078 billion in its Reported Inventories account despite not conducting a comprehensive physical count of its entire inventory. A fourth concern raised by COA was the misrecording of purchased goods and supplies amounting to more than P364.32 million, which were categorized as expenses but should have been recorded as inventory in the government’s books of accounts.
Castillo, who also heads city hall’s budget and finance office, directed the DGS to initiate the reconciliation of its recorded figures with those documented by the city accounting office.
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