Quesada, Rhayvien John G.

PA 31
Government Auditing
Prof. Laurente

MIDTERM EXAMINATION
1. rreconcile records with those of the Department of Budget and Management-Procurement Service
(DBM-PS) and Philippine International Trading Corporation (PITC) and monitor the deliveries made
by comparing the same against the corresponding transferred. Secure authority from the permanent
committee to maintain the current accounts which are considered extremely essentials in the
operations of the agency.
2. take up the adjusting entries to correct the errors noted in order to reflect the accurate Cash,
Receivables, Inventories, PPE, Financial Liabilities and Accumulated Surplus/Deficit balances in the
Financial Statements;
3. Demand settlement of overdue accounts and after exhausting all means, request an authority for
write-off of the dormant accounts from COA following the guidelines prescribed under COA Circular
No. 2016-005 dated December 19, 2016 in order to clear the books of long outstanding inactive
balances.
4. Analyze and request a written off dormant accounts which could no longer be collected pursuant to
COA no 2016. Enforce all the authority subjected to malpractice to pay the unpaid balance of their
loans.
5. Create an adequate internal control in the system of monitoring and recording align to the chapter 8
of the Government auditing Manual. Adjust the entries inventory accounts to correct the errors.
6. Conduct and complete the annual physical count of PPE, maintain and always update PPELC and
PC. And conduct regular reconciliation between accounting and property record.
7. Send demand letters to defaulting recipients and in case of defiance, impose appropriate sanctions
for their continued disregard of the rules and regulations on the timely settlement of transferred
funds; Monitor the utilization and liquidation of fund transfers and compliance by the concerned
SUCs/NGAs with the reporting requirements;
8. Enforce strict compliance to the rules and regulations on granting utilization and liquidation of cash
advances and demand settlement. Request write off with complete documentation of long
outstanding cash advances.
9. Submit the legal documentary requirements, inform all the authority in the preparation of the various
supporting documents, inform the regional accountant to check and stop allowing numerous alteration
of data contain in the various supporting documents.
10. Conduct an annual planning, identify and address the lapses, instruct all the accountants to revert to
the unobligated surplus accounts, utilize the agency ‘s allotments for its authorized purpose only.