Credit to Author: mfrialde| Date: Thu, 04 Jul 2019 02:09:36 +0000
MANILA, Philippines – The Bureau of Customs (BOC) has clarified that some of the accounting errors raised by the Commission on Audit (COA) trace back to six years ago, before the term of incumbent Customs Commissioner Rey Guerrero.
“Commission on Audit Director Cora De la Cruz transmitted its significant audit findings which include accounting errors incurred as far back as six years prior to Guerrero’s appointment as BOC Chief, materially affecting the accurate presentation of the BOC 2018 Financial Statements,” BOC said in a statement on Wednesday night.
Last Tuesday, COA flagged BOC over the unauthorized release of questionable cargoes without paying the additional post-assessments that cost up to P5.101 million.
The bureau was also called out for allowing more than 6,900 containers with rice, sugar, and donated goods to overstay within their ports.
But the BOC assured that they are fixing their records in accordance with COA’s audit observations and recommendations, claiming that 23 of 37 observations have been attended to already.
“The BOC Internal Audit Service (BOC-IAS), however, reported that the current administration of Commissioner Guerrero, has already taken positive steps to address the issue, not only in compliance to the COA suggestion, but most importantly, to fix the BOC records and to reconcile its PPE (property, plant and equipment) listing against actual inventory,” it explained.
“Internal Administration Group (IAG) Deputy Commissioner Donato B. San Juan said, of the 37 COA audit observations and recommendations, the Bureau was able to comply 23 or 62 percent compliance on its audit highlights,” the agency added.
According to BOC, the issues have been tackled in its weekly executive committee meetings, while an Inventory Team was created to reconcile the bureau’s inventory report in 2012. (Editor: Mike U. Frialde)