By: Gerome Dalipe
THE Iloilo City Government has failed to submit its financial reports within the required period last year, state auditors discovered.
In its annual report, the Commission on Audit (COA) said the City Government’s 2018 financial reports were not submitted on time, which prevented auditors from verifying the propriety of such documents.
Such practice “precluded the audit team from examining, or analyzing promptly the propriety and completeness of transactions and accuracy of financial reports at year-end,” read the COA report.
Pursuant to Sec. 7.2.1 of the COA Circular 2009-006 dated Sept.15, 2009, the chief accountant, or other authorized officials, is mandated to submit reports and supporting documents by the accountable officers.
Likewise, COA Circular 2010-001 dated March 2, 2010, enumerates the financial reports and supporting schedules to be submitted, such as subsidiary schedule of general ledger accounts.
A review by state auditors showed the delay in the submission of financial reports for the period January to December 2018 under the General Fund and Local Economic Enterprise, Trust Fund and Special Education Fund reached up to 68 days.
Likewise, Presidential Decree 1445, otherwise known as the Government Auditing Code of the Philippines, states that it is the duty of the officials or employees concerned to comply promptly with the submission of financial records and reports on time.
Failure or refusal to do so without justifiable cause shall constitute a ground for administrative disciplinary action.
The auditors commended the effort of the City Accounting Office in significant improvement in the submission of financial reports.
“However, the persistent delays in the submission hindered the timely auditorial review and deterred early detection of errors and irregularities,” read the COA report.
In the report, the auditors asked the city accountant to strictly comply with the submission of accounting records and reports within the deadline set by COA.
