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    The document is a response from the Finance and Management Office of the Republic of the Philippines to an auditor's report. It acknowledges observations about needed improvements to property management procedures, including better physical control and security of assets, implementing inventory processes, and enhancing disposal strategies. It notes that management has directed reconciliation of property records between accounting and the property section to address variances found.

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    The document is a response from the Finance and Management Office of the Republic of the Philippines to an auditor's report. It acknowledges observations about needed improvements to property management procedures, including better physical control and security of assets, implementing inventory processes, and enhancing disposal strategies. It notes that management has directed reconciliation of property records between accounting and the property section to address variances found.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    1K views1 page

    Sample Coa Aom Reply PDF Free

    Uploaded by

    Moana Katuray
    The document is a response from the Finance and Management Office of the Republic of the Philippines to an auditor's report. It acknowledges observations about needed improvements to property management procedures, including better physical control and security of assets, implementing inventory processes, and enhancing disposal strategies. It notes that management has directed reconciliation of property records between accounting and the property section to address variances found.

    Copyright:

    © All Rights Reserved
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    of 1

    Republic of the Philippines

    NAME OF OFFICE
    Finance and Management Office
    Diliman, Quezon City

    August 06, 2020

    NAME OF AUDITOR
    OIC-Supervising Auditor

    Sir:

    This has reference to your Audit Observation Memorandum (AOM) No. 20-001
    dated June 01, 2020 with the following observations:

    Audit and Review of Property Management

    a. Overarching responsibility of the Property Management Section


    (PMS)
    b. Need to enhance physical control and security over properties and
    inventories
    c. Absence of physical verification/inventory taking exercise and
    reconciliation procedures
    d. Inadequacy of property disposal strategy

    Please be advised that the management had directed the Accountant to continuously
    reconcile PPE records of the Accounting Division with that of the Property Management
    Section.

    Rest assured that the Accountant and the Property Officer will work closely together
    to resolve the huge amount of variance between the Property, Plant and Equipment Ledger
    Card (PPELC) and the Report on the Physical Count of Property, Plant and Equipment
    (RPCPPE).

    Thank you.

    Very truly yours,

    DESIGNATION

    cc: Designation

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