Phil. Gov't. Auditing

PHYSICAL DESCRIPTION

Size: 6” x 9”
No. of pages: 584
Paper: 60 lbs. bookpaper
Binding: Perfect Binding
Cover: Foldcote calliper 15, Softbound
Price: Php800.00 or US$ 17.00

Available at: National Book Store, Fully Booked, Popular Bookstore, and in e-book at Buqo.

TABLE OF CONTENTS

INTRODUCTION 1

PHILIPPINE GOVERNMENT AUDITING
P.D. No. 1445 as amended by E.O. No. 292

ANNOTATED

PART 1. AUDITING

PRELIMINARY TITLE

GENERAL PROVISIONS
SECTION 1. Title 13
SECTION 2. Declaration of Policy 18
SECTION 3. Definition of Terms 21
SECTION 4. Fundamental Principles 24

TITLE 1
THE COMMISSION ON AUDIT

CHAPTER 1

ORGANIZATION

BACKGROUND OF COA ORGANIZATION 31
SECTION 5. Composition of the Commission on Audit,
SECTION 6. The Commission Proper 46
SECTION 7. Central Offices 53
SECTION 8. The Commission Secretariat 60
SECTION 9. The Administrative Office 61
SECTION 10. The Planning, Financial, and Management Office 63
SECTION 11. The Legal Office 65
SECTION 12. The Accountancy Office 70
SECTION 13. The National Government Audit Offices I & II 73
SECTION 14. The Local Government Audit Office 78
SECTION 15. The Corporate Audit Office 81
SECTION 16. The Special Audits Office 88
SECTION 17. The State Accounting and Auditing Development Office 91
SECTION 18. The Technical Services Office 93
SECTION 19. Auditing Units in Regional Offices: Structure and Functions 100
SECTION 20. Auditing Units in Government Agencies: Structure and Functions109
SECTION 21. Auditing Units for Newly-Created Agencies 119
SECTION 22. Number and Compensation of Auditing Personnel 121
SECTION 23. Professionalization of Audit Services 130
SECTION 24. Appropriations and Funding 136

CHAPTER 2

JURISDICTION: POWERS AND FUNCTIONS OF THE COMMISSION

SECTION 25. Statement of Objectives 141
SECTION 26. General Jurisdiction 150
SECTION 27. Appointing Power 178
SECTION 28. Examining Authority 181
SECTION 29. Visitorial Authority 189
SECTION 30. Fee for Audit and Other Services 191
SECTION 31. Deputization of Private Licensed Professionals to Assist Government Auditors 192
SECTION 32. Government Contracts for Auditing, Accounting and Related Services 195
SECTION 33. Prevention of Irregular, Unnecessary, Excessive, Extravagant or Unconscionable Expenditures of Funds or Uses Of Property; Power to Disallow Such Expenditures 198
SECTION 34. Settlement of Accounts between Agencies 206
SECTION 35. Collection of Indebtedness Due to the Government 208
SECTION 36. Power to Compromise Claims 209
SECTION 37. Retention of Money for Satisfaction of Indebtedness to Government 212
SECTION 38. Authority to Examine Accounts of Public Utilities 216
SECTION 39. Submission of Papers Relative to Obligations 218
SECTION 40. Investigatory and Inquisitorial Powers; Power to Punish for Contempt 220
SECTION 41. Annual Report of the Commission 224
SECTION 42. Statement of Monthly Receipts and Disbursements 226
SECTION 43. Powers, Functions, Duties of Auditors as Representatives of the Commission 227
SECTION 44. Check and Audit of Property or Supplies 243
SECTION 45. Annual Audit and Work Program 249
SECTION 46. Seizure of Office by Auditor 253
SECTION 47. Constructive Distraint of Property of Accountable Officer 262

CHAPTER 3

DECISIONS OF THE COMMISSION

INTRODUCTION 267
SECTION 48. Appeal from Decision of Auditors 267
SECTION 49. Period for Rendering Decisions of the Commission 268
SECTION 50. Appeal from Decision of the Commission 268
SECTION 51. Finality of Decision of the Commission or Any Auditor 268
SECTION 52. Opening and Revision of Settled Accounts 269

COMMON NOTES

-THE 1997 REVISED RULES OF PROCEDURE OF THE
COMMISSION ON AUDIT 270
-EXCERPTS OF SUPREME COURT RULINGS AFFECTING
DECISIONS OF THE COMMISSION ON AUDIT 280.
-COA ISSUANCES AFFECTING DECISIONS OF THE
COMMISSION AFTER THE 2002 REORGANIZATION 295.

TITLE II: GOVERNMENT AUDITING

Historical Background of Philippine Government Auditing 299

CHAPTER 1

BASIC POLICIES AND STANDARDS

SECTION 53. Definition of Government Auditing 304
SECTION 54. General Standards 304
SECTION 55. Examination and Evaluation Standards 307
SECTION 56. Reporting Standards 310

CHAPTER 2

AUDIT OBJECTIVES

SECTION 57. Determination of Audit Procedures 321
SECTION 58. Audit of Assets 326
SECTION 59. Audit of Liabilities 331
SECTION 60. Audit of Revenue Accounts 333
SECTION 61. Audit of Expense Accounts 335
SECTION 62. Audits of Surplus or Networth 352

CHAPTER 3

RECEIPT AND DISPOSITION OF FUNDS AND PROPERTY

SECTION 63. Accounting for Money and Property Received by Public Officials 354
SECTION 64. Designation of Collecting Officers for Government Agencies 356
SECTION 65. Accrual of Income to Unappropriated Surplus of the General Fund 360
SECTION 66. Special, Fiduciary and Trust Funds 361
SECTION 67. Warrants and Checks Receivables in Payment for Taxes or Other Indebtedness to the Government 363
SECTION 68. Issuance of Official Receipts 365
SECTION 69. Deposit of Moneys in the Treasury 368
SECTION 70. Acknowledgement of Receipt for Funds 371
SECTION 71. Creditors’ Unclaimed Balances 371
SECTION 72. Shipment of Government Funds or Property by
Carrier; Notation of Evidence of Loss 374
SECTION 73. Credit for Loss Occurring in Transit or Due to Casualty or Force Majeure 374
SECTION 74. Monthly Reports of Depositories to Agency Head 379
SECTION 75. Transfer of Funds from One Officer to Another 380
SECTION 76. Transfer of Property between Government Agencies 381
SECTION 77. Invoice and Receipt upon Transfer of Funds or Property 382
SECTION 78. Disposition of Funds or Property held by Deceased, Incapacitated, Absconding, or Superseded Accountable Officer 383
SECTION 79. Destruction or Sale of Unserviceable Property 384
SECTION 80. Final Report of Accountable Officers 386
SECTION 81. Auditor’s Certificate of Balance 387
SECTION 82. Auditor’s Notice to Accountable Officer of Balance Shown upon Settlement 388
SECTION 83. Transcript of Auditor’s Record as Evidence of Liability 400

CHAPTER 4

APPLICATION OF APPROPRIATED FUNDS

SECTION 84. Disbursement of Government Funds 403
SECTION 85. Appropriation Before Entering into Contract 412
SECTION 86. Certificate Showing Appropriation to Meet Contract 414
SECTION 87. Void Contract and Liability of Officer 417
SECTION 88. Prohibition against Advance Payment on Government Contracts 425
SECTION 89. Limitations on Cash Advance 429
SECTION 90. Payment of Rewards 442
SECTION 91. Payments to Creditors 443
SECTION 92. Persons Authorized to Draw Warrants or Checks for Payment Out of Government Funds 449
SECTION 93. To Whom Warrants or Checks Payable 450
SECTION 94. Countersigning of Warrants or Checks by Auditors 451
SECTION 95. Treasurer’s Responsibility for Indorsements 454
SECTION 96. Payment of Lost or Fraudulently Encashed Treasury Warrants or Checks 456
SECTION 97. Disposition of Stale Warrants or Checks 456
SECTION 98. Reversion of Unliquidated Balances of Accounts Payable 459
SECTION 99. Transfer of Unexpended Balances to the General Fund 460
SECTION 100. Reports of Disbursing Officers in a Government Agency 461

CHAPTER 5

ACCOUNTABILITY AND RESPONSIBILITY FOR GOVERNMENT FUNDS AND PROPERTY

SECTION 101. Accountable Officers; Bond Requirements 463
SECTION 102. Primary and Secondary Responsibility 469
SECTION 103. General Liability for Unlawful Expenditures 476
SECTION 104. Records and Reports Required by Primarily Responsible Officers 482
SECTION 105 Measure of Liability of Accountable Officers 485
SECTION 106. Liability for Acts Done by Direction of Superior Officer 489
SECTION 107. Time and Mode of Rendering Account 492
SECTION 108. Prohibition against Pecuniary Interest 497

TITLE III
GOVERNMENT ACCOUNTING

Historical Background of Philippine Government Accounting 499

CHAPTER 1

BASIC PRINCIPLES AND OBJECTIVES

SECTION 109. Definition of Government Accounting 506
SECTION 110. Objectives of Government Accounting 507

CHAPTER 2

ACCOUNTS AND ACCOUNTING

SECTION 111. Keeping of Accounts 509
SECTION 112. Recording of Financial Transactions 524
SECTION 113. Chart of Accounts 529
SECTION 114. The General Ledger 532
SECTION 115. Terminology and Classification 534
SECTION 116. Accounts Classification 535
SECTION 117. Budgetary Control Accounts 536
SECTION 118. Accounting for Unrealized Revenues 541
SECTION 119. Accounting for Obligations and Expenditures 542

CHAPTER 3

ACCOUNTING REPORTS

SECTION 120. Reporting Requirements 543
SECTION 121. Financial Reports and Statements 545
SECTION 122. Submission of Reports 550

CHAPTER 4

INTERNAL CONTROL SYSTEMS

SECTION 123. Definition of Internal Control 553
SECTION 124. Installation 556

TITLE IV

FINAL PROVISIONS

SECTION 125. Transitory Provisions 563
SECTION 126. Duty to Respect the Commission’s Independence 563
SECTION 127. Administrative Disciplinary Action 566
SECTION 128. Penal Provision 570
SECTION 129. Separability Clause 571
SECTION 130. Repealing Clause 572
SECTION 131. Effectivity Clause 574

INDEX 575

Advertisements