RFB CONSTRUCTION CORPORATION

>General Engineering<>PCAB No.: 41742<>General Building<

Office of the Internal Audit Department

DEPARTMENT’S ACCOMPLISHMENTS / UPDATES

FROM JULY 26 TO AUGUST 29, 2022

This report provides information on internal audit activities and accomplishments for the
period of July 26 to August 29, 2022.

DAILY AUDIT ACTIVITIES

 Checked and reviewed the payroll from July 23 to August 7, 2022 and August 8 to August
22, 2022.
 Checked and reviewed vouchers, PCF liquidations, Sub-con ledger accounts, and the Budget
Summary of the Accounts Payable for January to July 2022.

SUMMARY OF CHECK VOUCHERS FOR THE MONTH

OF AUGUST 2022
Number of Check Vouchers
(as of August 29, 2022)
RFBCC 201
RBI 232
RFB REALTY 23
RFBCC-RBI ADMIN 54
TOTAL 510

 Audit Findings and Investigations:

Status Audit Findings and Investigations on the Late Submission of PCF Liquidations:

AUDIT FINDINGS AND INVESTIGATIONS STATUS

0 Conducted a review and verification on the backdated

1 petty cash liquidation for refund of Engr. Abdul As of this writing, no letter of
Muhaymen Imam covering the period of March 24-31, justification has been received
2022 and April 02-10, 2022. A letter of an audit findings by the office.
dated July 26, 2022 was sent to the PCF
Custodian/Accounting Staff at Malaybalay, Bukidnon
and a copy was also given to the Head of Accounting
department.
0 The investigation report on the late submission of the
2 Petty Cash Fund liquidation of Sir Stephen Dahan and The President/CEO has
Sir Norie Calo, covering the period from April 10, 2021, already APPROVED the
closure and termination of the
to August 11, 2022, was endorsed to the Office of the VP
said investigation report on
for Operations/COO for recommending approval of August 13, 2022.
closure and termination of the said report.
0 The investigation report on the late submission of the
3 Petty Cash Fund liquidation of Madam Karen T. The President/CEO has
Sarcauga, covering the period from September 29, already APPROVED the
closure and termination of the
2021, to October 18, 2021, was endorsed to the Office of
said investigation report on
the VP for Operations/COO for recommending approval August 13, 2022.
of closure and termination of the said report.

0 Conducted a review and evaluation on the late

4 submission of the Petty Cash liquidation of Engr. Jerson Engr. Morales was given 5
Morales covering the period from March 9 to July 30, days upon receipt of the letter
2022. A letter of audit findings with a to appeal his case to the top
denied/disallowed request dated August 18, 2022, was management of the foregoing
sent to Engr. Jerson Morales. A copy of the letter was findings. As of this writing, no
 RFB CONSTRUCTION CORPORATION
>General Engineering<>PCAB No.: 41742<>General Building<

Office of the Internal Audit Department

AUDIT FINDINGS AND INVESTIGATIONS STATUS

forwarded to the Office of the VP Operation/COO, the Letter of Appeal has been
Office of the VP Finance, and the Office of the Head, received by the office.
Accounting Department.
0 Conducted an audit report on the Tire Stock Inventory
5 of the Motorpool Department on August 20, 2022. A Tires will be donated and
copy was forwarded to the Office of the disposed of.
Administration/Legal, the Office of the VP
Operation/COO, and the Office of the VP Motorpool.

MEETING/S FACILITATED

AGREEMENT/S STATUS

On August 1, 2022, a meeting The concerned VPs, AVPs,

was held in the Conference Department Heads, and On-going refinement of the
Room of the Main Office to Assistant Heads were amendments to the policy, then
discuss the amendment / previously provided copies of it will be forwarded to the top
the aforementioned policy on management for the approval of
improvement to the process of
July 27, 2022. such. The target date to
handling petty cash funds. It accomplish this is at the end of
was attended by a Hence, the body consequently the month.
representative of the HR concurred that department
department, the VP for heads may evaluate, suggest,
Finance, the Secretary of the and remark on the
VP for Finance, the Head of the aforementioned policy. The
Accounting department, and Internal Audit department will
the VP for Administration then receive it and consolidate
/ Legal and Audit personnel. the suggestions and
recommendations.

WAY FORWARD

SCHEDULED PLANNED ACTIVITIES OF THE AUDIT DEPARTMENT

LOGISTICS /
SCHEDULED AUDIT STATUS /
OBJECTIVE/S ESTIMATED
DATE ACTIVITIES REMARKS
BUDGET

August 16- Audit of the Petty To examine, audit, Meals

31, 2022 Cash Fund verify, and P 100 x 3 pax x 3 DONE.
Custodian Madam monitor all meals x 9 days = P Ongoing
Karen Mae T. properties and 8,100.00 verification,
Sarcauga for the funds being evaluation, and
period she started handled by Hotel analysis of the
handling cash accountable Accommodation collected data.
until the present. officers and
P 1,000 per day x 9
employees. days = P 9,000.00

TOTAL
ESTIMATED
BUDGET =
P 17,100.00
 RFB CONSTRUCTION CORPORATION
>General Engineering<>PCAB No.: 41742<>General Building<

Office of the Internal Audit Department

LOGISTICS /
SCHEDULED AUDIT STATUS /
OBJECTIVE/S ESTIMATED
DATE ACTIVITIES REMARKS
BUDGET

September Audit of the Petty To examine, audit, NONE.

1-15, 2022 Cash Fund verify, and The venue is at the
Custodian Madam monitor all Main Office.
Mary Ann properties and
Mangubat for the funds being
period she started handled by
handling cash accountable
until the present. officers and
employees.
October 16- Audit of the Petty To examine, audit, NONE.
31, 2022 Cash Fund verify, and The venue is at
Custodian Madam monitor all the Main Office.
VP for Finance for properties and
the period she funds being
started handling handled by
cash until the accountable
present. officers and
employees.
November 5, Briefing of Policies To orient and/or NONE.
2022 and Guidelines on re-orient Orientation will be
Handling of Petty accountable done through
Cash Fund via officers and Zoom platform.
Zoom/virtual employees on the
meeting. PCF policy in order
to mitigate the
risk of
mishandling PCF
and any potential
problems.

November Tax Seminar and To enlighten the Speaker’s

26, 2022 Audit Procedures accounting and Honorarium
and Techniques auditing personnel = P 10,000.00
and proper on the tax concept
documentation to and audit Snacks/Meals
be participated to procedures.
P 150 x 2 meals
by all accounting
(snack and lunch) x
and auditing 20 pax = P 6,000.00
personnel.
TOTAL
ESTIMATED
BUDGET = P
16,000.00
 RFB CONSTRUCTION CORPORATION
>General Engineering<>PCAB No.: 41742<>General Building<

Office of the Internal Audit Department

PHOTO DOCUMENTATION

Conducting inventory of
tires at the Motorpool
office, Ampayon.

During the meeting of PCF Amendments last August

1, 2022 at Conference Room, Main Office

Cash counting of the funds

and auditing of PCF
liquidations and ledgers
from January 2020 to
August 16, 2022 at the
Malaybalay office.

Prepared by:

JESSAH MAE B JUMAMOY ELLA B DELA CERNA

Audit Staff Audit Staff

Noted by:

REMIGIO C LUNA, JR / MANUEL M MENDOZA

Internal Auditors