(NAR) VOL. 26 NO. 3/ JULY - SEPTEMBER 2015
3.1 | The Chief Accountant/Head of Accounting Unit shall submit directly to the Government Accountancy Office (GAO), GAS, and to the Supervising Auditor (SA)/Audit Team Leader (ATL) concerned, the following year-end financial statements and other related financial reports/schedules in accordance with the existing format and in printed and digital copies on or before February 14 of each year: | |
• | Pre-closing Trial Balance | |
• | Post-closing Trial Balance | |
• | Comparative Detailed Statement of Financial Position | |
• | Comparative Detailed Statement of Financial Performance | |
• | Comparative Statement of Changes in Equity | |
• | Comparative Statement of Cash Flows (Direct Method) | |
• | Notes to Financial Statements | |
• | Statement/Aging of Accounts Payable | |
• | Statement/Aging of Accounts Receivable | |
• | Breakdown of Domestic/Foreign Loans (indicate if guaranteed by the National Government) | |
• | Schedule of Income Taxes Paid | |
• | Schedule of Dividends Paid | |
• | Schedule of Subsidies Received from National Government and other GOCCs (if any) | |
• | Schedule of Fund Transfer from one agency to another agency/agencies and its utilization | |
• | Summary of Discretionary, Representation, Extraordinary, Promotional, Confidential and Consultancy Expenses | |
• | Roster of Membership of Governing Board | |
• | Statement of Management Responsibilities | |
3.2 | The Chief Accountant shall ensure that the copies of the reports for GAS are the same with those submitted to the SA/ATL for audit and preparation of the Annual Audit Report (AAR). Any revision on the submitted financial statements due to some adjustments must be appropriately communicated to GAS and SA/ATL concerned to avoid discrepancies between the financial data in the AAR and the AFR. However, revisions shall not be allowed beyond March 31 to give GAS enough time to reconcile with the audited FS to be furnished by the CGS not later than April 30. Any revision after March 31 shall be accepted only when justified and considered by the SA/ATL in the AAR. | |
3.3 | For Water Districts (WDs), the reports required in 3.1 shall be submitted to the SA/ATL and to the COA Regional Office (RO) concerned on or before February 14 of each year for the preparation of summarized financial statements and submission to GAS. The Chief Accountant of each WD shall ensure that copies of the reports for the COA RO are the same with those submitted to the SA/ATL for audit and preparation of AAR. Any revision on the submitted financial statements due to some adjustments must be appropriately communicated to the SA/ATL and COA RO concerned not later than March 31 to avoid discrepancies between the financial data in the AAR and the AFR. | |
3.4 | The COA RO shall submit the summarized financial statements of WDs by province and region to GAO, GAS not later than May 15 of each year. |
(SGD) MICHAEL G. AGUINALDO Chairperson | |
(SGD) HEIDI L. MENDOZA Commissioner | (SGD) JOSE A. FABIA Commissioner |