INTERNAL AUDIT FINDINGS
Jollibee Plaza
Audit Date: 23 August 2007
Audit Findings Corrective Action Taken
1. Petty Cash Fund
Approved petty cash fund is Php 7,000.00.
There is a Php 2.05 overage between the physical count against
the fund on hand.
Petty Cash Vouchers (PCV) are being approved by the Building
Manager upon replenishment of the fund.
At the time of the count, there are expenses (receipts) that has no
corresponding PCV. We asked the custodian to prepare the PCV
for the said expenses.
2. Collections vs. Deposits
All collections for the day (i.e. cash and chacks) were deposited,
the latest, is on the next banking day. These are also effected in
the Daily Cash Position Report.
All Cash Receipts for the month are effected in its Monthly Bank
Reconciliation Statement.
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FPD Asia Property Services, Inc. Page 1 of 1
INTERNAL AUDIT FINDINGS
Jollibee Plaza
Audit Date: 23 August 2007
Audit Findings Corrective Action Taken
3. Disbursements
All disbursements for the period selected were properly supported
and documented.
Checks release for the day are effected in its Daily Cash Position
Report and all cash disbursements for the month are effected in
its Monthly Bank Reconciliation Statement.
4. Financial Reporting
Latest Financial Statement submitted to Central Office is for the
month of July 2007.
Over 120 days accounts receivable amounts to almost Php 1.5M.
Majority of these accounts is for Premiere Entertainment. Inspite
several collection notices, the said unit owner cannot pay.
There is an item in the FS Advances to Unit Owners amounting to
Php 1.4 that is still unbilled. Most of these are for the year 2006.
According to the Building Manager, they are still waiting for the
Meralco refund. If the refund can cover the amount of the
advance, they will no longer bill the unit owners concerned.
--NOTHING FOLLOWS--
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