COA reiterates recommendation for disposal of abandoned, surrendered properties to PCGG
The Commission on Audit has reiterated its recommendation for the disposal of all abandoned or surrendered properties to the Presidential Commission on Good Government to avoid further depreciation or loss.
Auditors explained that abandoned or surrendered assets refer to properties voluntarily surrendered, assigned or ceded or waived to the PCGG as ill-gotten wealth. Others are received by the PCGG from settlement or court rulings of cases filed to recover illegally acquired assets during the extended term of the late former President Ferdinand E. Marcos.
“Noteworthy to mention that these ill-gotten wealth being abandoned or surrendered, were subject of sale/disposal and the proceeds there from are remitted to the Bureau of Treasury intended for the use of the CARP of the Department of Agrarian Reform,” said COA.
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