08-PPC2012 Part2B-Status of PY's Recommendations

8/11/2019 08-PPC2012 Part2B-Status of PY's Recommendations

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B. STATUS OF IMPLEMENTATION OF PRIOR YEARS RECOMMENDATIONS

2011 AAR Comment and Obe!"at#on Re$ommendat#on Stat%&A$t#on Ta'en

Part II.A ofComment &Observation

No. 1

The accuracy and existence ofthe Cash in Banks accountcannot be ascertained in vieof the discre!ancy beteenthe book and bank ba"ances ofP#1$.% mi""ion.

'e(iona" Accountants shou"dexert extra efforts to trace) verifyand reconci"e the variancesbeteen the book and bankba"ances and to effecta!!ro!riate ad*ustments to arriveat the correct ba"ance of theCash in Banks account as atyear+end.

A task force as created under PPCOffice Order No. 11+,1 datedNovember #1) #$11 and PPC OfficeOrder No. 1#+$% dated -anuary )#$1#) to reconci"e the discre!anciesbeteen the books of accounts andbank ba"ances.

/ikeise) a 0emorandum +instructiondated -une 11) #$1 reuirin( a"" Area

Accountants to exert a"" efforts at their

end to reconci"e the Cash in Bankaccounts in their Books as issued byPPC.

As re(ards the cash see!in(s fromthe area accounts to the centra" officemain accounts 2for B3O) /BP andPP4B5) here some transfers erenot taken u! in their Books due todifficu"ty in securin( the Bank4tatements and6or see!in(

transactions) the Bookkee!in(3ivision i"" be !rovidin( the AreaOffices ith the see!in( transactions2year by year) startin( ith the mostrecent year don to !rior years5 to aidthem in the reconci"iation of theirCash in Banks accounts.

Reiterated in Comments and

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Observations No. 21 of Part II.A ofthe Report.

Part II.A ofComment &ObservationNo. #

Cash Advances (ranted at theCentra" Office and 'e(iona"Offices of PPC tota"in( P1.78mi""ion remained un"iuidatedcontrary to 4ection 98 ofPresidentia" 3ecree 177% and4ections 7.1.# and %.9 of COACircu"ar No. 8,+$$#.

There shou"d be strict monitorin(of outstandin( cash advances.Ca"" the attention of the officersand em!"oyees ith cashadvances hich are sti""outstandin( beyond the!rescribed !eriod. Co""ection bi""or demand "etters shou"d be sentto concerned officia"s andem!"oyees) otherise) their

sa"aries sha"" be ithhe"d unti"their un"iuidated cash advancesare fu""y sett"ed.

PPC shou"d strict"y enforce the!rovision of 4ection 98 ofPresidentia" 3ecree No. 177%and 4ections 7.1.# and %.9 ofCOA Circu"ar No. 8,+$$#.

At the PPC+Centra" Office) a0emorandum to a"" concerned officersand em!"oyees dated October $1)#$1# as issued reuirin( them tosett"e a"" accountabi"ities thrusubmission of !ertinent su!!ortin(documents to the Accountin( 3ivision.

Continuous efforts ere exerteddurin( C: #$1# to reuire the

accountab"e officers and em!"oyeesto sett"e their cash advances) such as)deductin( from their sa"ary theunex!ended ba"ances of their cashadvances) and issuin( a seconddemand "etters to active accountab"eofficers.

In the Area Offices) a 0emorandumdated -une 17) #$1 as issued forthe Area Offices to !re!are and serve

fina" demand "etters to theaccountab"e officers and effect sa"arydeductions) if !ossib"e.

Reiterated in Comments andObservations No. 22 of Part II.A ofthe Report.

Part II.A of No e"imination of reci!roca" Constitute a committee In addition to the created task force

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Comment &ObservationNo.

accounts cou"d be effected inthe conso"idation of thefinancia" statements of the

PPC Centra" Office and'e(iona" Offices due tounreconci"ed discre!ancies ofthese accounts existin( since#$$$) hich reachedP7)7,8.71 mi""ion as of 3ecember 1) #$11.

com!osed of re!resentativesfrom ;enera" Accountin(3e!artment 2;A35) 0oney Order

4ervice 20O45) Cash0ana(ement 3ivision) Posta(e3ivision and 'e(iona" Officesho i"" be tasked to conduct there(u"ar reconci"iation of (enera""ed(er and subsidiary "ed(ers ofboth Centra" Office and 'e(iona"Offices) to ensure thatdiscre!ancies hich have "on(been unreconci"ed be identified)reconci"ed and ad*ustedaccordin("y.

Create reci!roca" sub+accountcodes for the use of both ;A3and 'e(iona" Offices< Accountin(4ection to record transactionsaffectin( the 3ue to Centra"Office and 3ue from the 'e(iona"Offices accounts) such that)transactions affectin( fundtransfers) see!in( in of remittances) issuances 6 returnsof stam!s) transfers of fixedassets6centra""y !rocuredsu!!"ies and other inter+officetransactions i"" be assi(ned asub+account each !er 'e(iona"Office for easy reconci"iation.The use of sub+account code i""faci"itate) easy identify and

under PPC Office Order No. 11+,1dated November #1) #$11 and PPCOffice Order No. 1#+$% dated -anuary

) #$1#) PPC issued 0emorandumCircu"ar No. 1#+$7 dated -anuary 1)#$1# for the va"idation of accountin(entries of the 3ue to6from Accounts.

The !ro!er accountin( of 3ue from6to2reci!roca" accounts5 as addressedthrou(h the issuance of PPC Circu"arNo. 1+1$ dated 0arch 1%) #$1. Thiscircu"ar aims to estab"ish uniformity inthe accountin( of the inter+officetransactions.

The Bookkee!in( 3ivision (rou! i""be c"ose"y coordinatin( ith the AreaOffices in the reconstruction andreconci"iation of the accounts.


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dissect unreconci"ed com!onentsof 3ue to Centra" Office63ue from'e(iona" Offices accounts.

Im!rove the interna" contro"!rocedures re(ardin( the fundtransfers from the Centra" Officeto 'e(iona" Offices andsee!in( in of cash from the'e(iona" Offices to the Centra"Office bank accounts) 3omestic0oney Order c"earin( and otherinteroffice transactions to ensurecom!"ete) accurate and time"y

recordin( in both books of theCentra" Office and the 'e(iona"Offices.

'euire the Centra" Office andthe 'e(iona" Offices tocoordinate ith their de!ositorybanks to ensure that these banksfurnish them ith month"y bankstatements at the end of eachmonth in order to accurate"y and

time"y record fund transfers andcash see!in( in from6to theCentra" Office.

'euire the ;A3 to com!"ete"yrecord in the subsidiary "ed(ersof 3ue from 'e(iona" Officesaccount the transactionsaffectin( the account and cause

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the !ostin(s on the PPC ebsitefor viein( and reference by thedifferent 'e(iona" Offices for

easy identification of variances.

Part II.A ofComment &ObservationNo. 7

The settin(+u! of the so+ca""ed=bad accounts> as notdeemed va"id as theseaccounts ere used to =dum!>accounts hich cou"d not bereconci"ed) or those hichcannot be substantiatedcoverin( the !eriod from 188#to #$11. These accountsconsisted of asset accountsith tota" ba"ances of P1)#7$.,$ mi""ion) and"iabi"ities and ca!ita" accountsith tota" ba"ances of P,%8.87mi""ion) ith the difference ofP79$.,, mi""ion char(ed to'etained ?arnin(s.

The PPC 0ana(ement shou"d!rovide a cut+off !eriod fortransactions hich can berec"assified to Bad Accounts)both in the Centra" Office and'e(iona" Offices. ?nsure thatthe ba"ances of Bad Accountsare accurate"y and va"id"ydetermined and adeuate"ysu!!orted ith documentaryevidences to effect necessaryand va"id ad*ustments.

'euest for authority to rite+offfrom the Commission on Audit foraccount ba"ances) the va"idity)accuracy and existence of hichcannot be determined) due to"ack of su!!ortin( documents orany other va"id evidences.

In -une 1%) #$$, Circu"ar No. $,+$as issued to a"" 'e(iona" 3irectorsand 'e(iona" Chief Accountants(uide"ines to c"ean u! certainaccounts in the ba"ance sheet hichinc"udes !resentation of Bad Accountsin the (enera" "ed(er) thus !rovidin(C: #$$ as the cutoff !eriod for thetransactions hich can be rec"assifiedas bad accounts.Bad Accounts are accounttransactions6ba"ances hich ere not!ro!er"y accounted and notadeuate"y su!!orted ith va"iddocuments. These accounts i"" be!ro!er"y c"assified to their corres!ondin( account andaccordin("y make necessaryad*ustments in the Books to ref"ect itscorrect ba"ances.

A reuest for rite+off i"" be !re!aredfor account ba"ances u!onestab"ishin( its va"idity for rite+off.Reiterated in Comments andObservations No. 20 of Part II.A ofthe Report.

Part II.A of The correctness of the book Conduct re(u"ar reconci"iation of A task force as created under PPC

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Comment &ObservationNo. %

ba"ance of Accounts'eceivab"e + Internationa"0oney Order 2Account No.

1#1+$5 as at 3ecember 1)#$11 in the amount of P9%.$mi""ion cannot be ascertainedand remained unreconci"edover the years.

the (enera" "ed(er ba"ances ofthe Accounts 'eceivab"e @Internationa" 0oney Order)

Incomin( and Payab"es Others @Internationa" 0oney Order.Incomin( ith the summaryre!orts submitted by the 0O4 toensure that discre!ancies areimmediate"y identified andad*usted accordin("y.

'e(u"ar and c"ose coordinationbeteen the !ersons invo"ved inthe recordin() reconci"iation and

monitorin( of the internationa"money order transactions shou"da"ays be observed. A"so)subsidiary "ed(ers for eachorei(n Posta" Administration2PA5 account shou"d be!re!ared re(u"ar"y to ensure thatthe individua" ba"ance areaccurate"y stated and reconci"edith the (enera" "ed(er.

Office Order No. 11+,1 datedNovember #1) #$11 to reconci"ediscre!ancies in the books of

accounts.

Part II.A ofComment &ObservationNo.

The Payab"es Other+3omestic0oney Order account)amountin( to P#)8$.$ mi""ionremained unreconci"ed overthe years.

'econci"e the Payab"es Others+3omestic 0oney Order accountith the tota" Cash+Co""ectin(Officers and Cash in Bankba"ances for 0oney Order und)net of Phi"hea"th !remiumco""ections) in accordance iththe (uide"ines set forth under

Artic"e II) 4ection 1 of the PPC

A task force as created under PPCOffice Order No. 11+,1 datedNovember #1) #$11 to reconci"ediscre!ancies in the books ofaccounts.

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3omestic 0oney Order 4ystem0anua".

Pre!are schedu"e of outstandin(money orders issued as of3ecember 1) #$11 as basis forthe !re!aration of Bank'econci"iation 4tatements toarrive at the correct ba"ance ofthe account) Payab"es Others+3omestic 0oney Order ith thefo""oin( detai"sD E 4eria" Number E Amount

E 3ate Issued E 3ate C"eared E 'emarks

Part II.A ofComment &ObservationNo. ,

The va"idity of the ba"ances ofAccounts 'eceivab"eInternationa" Accounts and

Accounts Payab"e+Internationa" Accounts as atyear+end as doubtfu" due tothe "on( unreconci"ed

discre!ancies in the amount ofP.91 mi""ion and P,1.8#mi""ion) res!ective"y) beteenthe ba"ances of the (enera""ed(ers and subsidiary"ed(ers.

'euire ;A3 and theInternationa" Accounts 3ivision2IA35 !ersonne" to coordinateefforts to ana"yFe) trace andreconci"e variances beteen the;/ and 4/ ba"ances of the A6')Internationa" Accounts and A6P)

Internationa" Accounts. 0onth"yreconci"iation must be done inaccordance ith Para(ra!h #2a54ection 799 of the ;AA0)o"ume II.

?nsure that "iabi"ities forinternationa" are conveyance ithair"ine com!anies are correct"y

3ue to the vo"ume of transactions forinternationa" mai"s) the Bookkee!in(3ivision) Accountin( 3e!t. is formin(a reconci"iation (rou! com!osed ofthe Officia" Person 'es!onsib"e2OP'5 + Int


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accrued as A6P) Internationa"Accounts to !revent theexistence of abnorma" or

ne(ative ba"ances and ensurecorrectness of ba"ances for theaffected accounts.

ormu"ate ritten !o"icies6!rocedures6(uide"ines to beobserved by ;A3 and IA3 in therecordin( and accountin( for A6')Internationa" Accounts and A6P)Internationa" in order to achieveuniformity and synchroniFation in

the recordin( of transactions and!revent further discre!anciesbeteen the records of both3ivision.

the necessary identification of thetransactions and su!!ortin(schedu"es to ad*ust the ori(ina"

accountin( entries made.


Part II.A ofComment &ObservationNo. 9

Continued "ack of "e(a" actionby PPC toards sett"ement ofthe COA disa""oance on therefund made in November#$$ to PPC G4A of H1.$#mi""ion or P7%.% mi""ion

com!romised the restitution ofthe same in favor of PPC.

?nforce sett"ement of N3 No.#$$%+$$12#$$5 throu(h the fi"in(of civi" and crimina" cases a(ainstPPC G4A and the !ersons "iab"efor authoriFin( the disa""oedrefund to PPC G4A.

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No. 8

Confirmation of the year+endba"ances of six 25 orei(nPosta" Administration PA

accounts yie"ded variances of43' 17.# mi""ion or P8.8mi""ion for A6') Internationa"

Accounts and 43' %.%$9mi""ion or P,.8 mi""ion for

A6P) Internationa" Accountshen com!ared to theirres!ective ba"ances in PPC


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affect the necessary ad*ustmentsto be ab"e to fair"y !resent thisaccount at its net rea"iFab"e

va"ue.

or the accounts hich havebeen verified as bad debts or badaccounts) the PPC shou"dconsider ritin(+off theseaccounts in accordance ith4ection 7 of Presidentia" 3ecree177%) COA Circu"ar No. 8#+,%and COA 'eso"ution No. 9$+1##dated A!ri" #) 189$.

Issue accountin( !o"icies and(uide"ines in the settin(+u! and!eriodic assessment of theadeuacy of A""oance for3oubtfu" Accounts of Accounts'eceivab"e Trade @ PCA andother receivab"es takin( intoconsideration re"evant factorssuch as the a(in( of accountsreceivab"es) co""ection

ex!eriences or co""ectabi"ity)ex!ected "oss ex!eriences) etc.to determine the adeuate "eve"of A""oance for 3oubtfu"

Accounts to be reco(niFed.

co""ectabi"ity and recovery of these'eceivab"es are taken intoconsideration. A"so considered is the

existin( !o"icy on the PCA inestab"ishin( the terms and a(in( ofthe receivab"es.

(Reiterated in Comments andObservations No. 2! of Part II.A ofthe Report


The ba"ance of the account0erchandise Inventory+Phi"ate"ic items amountin( to

'evie the fixed accountabi"itiesof custodians6te""ers and reduceit to reasonab"e amounts to

or Com!"iance.

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No. 11 P9.%$ mi""ion as overstatedby P%.11 mi""ion re!resentin(the difference beteen the

face va"ue and cost of thePhi"ate"ic Items Inventory.

easi"y determine and account fortheir res!ective accountabi"ities.

The te""ers6custodians shou"dindicate the cost of the !hi"ate"icstam!s as indicated on the'euisition and 4a"es6Issue 4"i!su!on remittance of sa"es to thecashier hich i"" be the basis forrecordin( the amount of sa"es)reduction of the Inventory andre"ated costs.

0ake the necessary ad*ustments

to record the reversion of!hi"ate"ic stam!s to re(u"ar!osta(e stam!s) herevernecessary) to effect the reductionin the amounts and uantities ofstam!s inventory.

Phi"ate"ic items hich ares!oi"ed6dama(ed and can no"on(er be so"d shou"d bedis!osed and make the

necessary ad*ustmentsaccordin("y to reduce theiramounts and uantities.Phi"ate"ic items that are ke!t inthe stam! vau"t and sti"" in thecustody of the custodians6te""ersho ere refrained from se""in(shou"d be !ro!er"y accounted forand turned+over to the stam!

4tream"inin( of the functions of thecustodians is underay.(Reiterated in Comments and

Observations No. 2" of Part II.A ofthe Report

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vau"t custodian for distributionand transfer to the 'e(iona"Offices.

Part II.A ofComment &ObservationNo.1#

Te""ers mannin( the 1,extension !ost offices in NC'not bonded. A"so) theassi(ned drivers to thePostmaster or staffs thou(hnot bonded nor officia""ydesi(nated as co""ector)co""ected sa"es co""ectionsfrom the te""ers of sevenextension !ost offices ithout

!ro!er ackno"ed(ement.urther) te""ers in the ?POsere a""oed to brin( homecash co""ections at ni(ht) afterthe cut+off time of !ick+u! orremittance) for safe+kee!in()hence) ex!osin( cashco""ections to risks of theft)robbery or ho"du!.

4a"es6issuance of Posta"

identification Cards 2PI3s5 incertain ?POs ere not fu""ycovered by thecorres!ondin("y issued Officia"'ecei!ts) ith the unrecei!ted!ortion of the co""ectionran(in( from P,$.$$ toP#$$.$$ ere a""e(ed"ya""otted for notaria" fees)

Adhere to the !rovisions of4ections 1$1 of Presidentia"3ecree No. 177% hich reuiresthat every accountab"e officersha"" be !ro!er"y bonded inaccordance ith "a. urther)on"y te""ers occu!yin( !ermanent!ositions shou"d be a""oed toman ?POs.

Consider o!enin( bank accountsin ma""s here ?POs are housedto avoid the risky !ractices ofhand"in( cash co""ections.

Co""ectin( officers shou"d issueofficia" recei!t euiva"ent to thefu"" amount so received by themin accordance ith 4ection 9 ofPresidentia" 3ecree No. 177%.Cashiers of the !rinci!a" !ost

office shou"d reuire thesubmission of !eriodic statementof accountabi"ity for accountab"eforms and the use of an officia"cashbook to serve as recordbook of financia" transactions of?POs under his6her su!ervision.0oreover) he6she shou"d at a""times va"idate the correctness of

Partia""y Im!"emented.

PPC issued a 0emorandum datedNovember ,) #$1# to a"" !ostmastersreuirin( them to submit immediate"yname of em!"oyees desi(nated asaccountab"e officers for confirmationby this Office and in order for them tobe !ro!er"y bonded.

PPC reiterated the issuance of0emorandum ith re(ards to theissuance of Officia" 'ecei!ts for a""co""ection of sa"es on Posta"Identification Cards.

PPC is no fina"iFin( the re!ortformat for 3ai"y Posta" Te""er 4a"es6Co""ection 'e!ort here indicatedtherein are the cate(ory6kind of

services) the uantity of mai"sreceived) the amount) the inventoryof accountab"e forms6items and theackno"ed(ement recei!t !ortion bythe Cashiers6 Postmasters forim!"ementation.

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documentary stam!s)"amination fees) !hotoservices) etc.

The Cashier fai"ed to va"idatethe re!orted sa"es of thete""ers6accountab"e officers inthe extension !ost offices.

A"so) te""ers in ?POs ere notmaintainin( cash recei!ts booknor submittin( !eriodicstatement of accountabi"ity foraccountab"e forms.

the re!orted sa"es of te""ers !riorto acce!tance of co""ections orre!"enishment for !ro!er

accountin( and monitorin( ofcash co""ections.

Part II.A ofComment &ObservationNo.1

or Ca"endar :ear #$11)officia"s of the Phi"i!!inePosta" Cor!oration ho ere!rovided com!any servicevehic"es sti"" received the fu""amount of their 'e!resentationand Trans!ortation

A""oances hich is not inaccordance ith COA Circu"arNo. 88+$$# dated -une 1%)

1888 uotin( 4u!reme Courtru"in( in the case of =Aida3omin(o vs. Commission on

Audit> under ;.'. No. 11#,1dated October ,) 1889.

?n*oined a"" PPC Officia"s toeither use com!any servicevehic"e and sto! co""ectin( thetrans!ortation a""oance or (iveu! the com!any issued servicevehic"e to co""ect the fu"" amountof their 'ATA) thereby)subscribin( to the ru"e of 4u!reme Court as cited in COACircu"ar No. 88+$$# dated -une

1%) 1888. urther) enforcecom!"iance to 4ection .1.1.9 ofCO00I44ION ON AG3ITCI'CG/A' No. 8+$$7 dated

A!ri" 18) "88 hich states thatunder no circumstances shou"dfue" be issued to !rivate"y onedmotor vehic"es.

PPC to revie and im!"ement COA


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No.17

Tenty+to 2##5 disbursementvouchers for the !ayment ofthe first sa"aries of the ne"y

hired6transferred em!"oyeesand the initia" !ayment forservices rendered byconsu"tants and contractua"em!"oyees did not inc"ude orcontain Box A hich reuiresthe certification of the Chief

Accountant as to thecom!"eteness and !ro!riety ofsu!!ortin( documents.

Inc"ude in the standard(overnment form for 3isbursement oucher Box A)

hich reuires a certification ofthe Chief Accountant thatsu!!ortin( documents attachedto 3s are com!"ete and !ro!er.

Not yet Im!"emented

Part II.A of

Comment &ObservationNo.1%

The Cor!oration has not

im!"emented in fu"" thecom!ensation ad*ustments toim!"ement the modified 4a"ary4chedu"e for civi"ian !ersonne"in the nationa" (overnmentcovered by 'e!ub"ic Act No.,%9) as amended) !articu"ar"ythe 4a"ary 4tandardiFation/a 244/ 5) hich sha"" beim!"emented in four 275 year"ytranches startin( -u"y 1) #$$8.

Accrue the sa"ary differentia"s for

the !eriod -u"y 1) #$$8 to3ecember 1) #$$8 inaccordance ith ?xecutive OrderNo. 911) Nationa" Bud(et Circu"arNo. %#1 and PPC Board'eso"ution No. #$1$+$7.

PrioritiFe bud(etary tar(ets andformu"ate sa"ary schedu"es tofu""y im!"ement the !ayment ofthe first to fourth tranches as

!rovided for in the various?xecutive Orders and Nationa"Bud(et Circu"ars issued for thefour+year im!"ementation of 44/.

Coordinate ith the 3B0 on theim!"ementation of the !ro!osedsa"ary increase schedu"es from

Not yet im!"emented.

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the first to fourth tranches of 44/ and to be ab"e to source thereuired fundin( for the !ayment

of the sa"ary increases for thePPC em!"oyees.

Part II.A ofComment &ObservationNo.1

0ana(ement continuous"yfai"ed to !rovide reasonab"e!ercenta(e of its #$11 bud(etfor the ;ender and3eve"o!ment 2;A35!ro(rams) thus) de!rivin( theCor!oration and its em!"oyeesof the intended benefits had

sufficient amount beena""ocated for the !ur!ose.

e recommend that PPCformu"ates a 2;A35 P"andesi(ned to em!oer omenand address (ender issues in theCor!oration and inte(rate thesame in the re(u"ar activities ofthe A(ency uti"iFin( at "east asubstantia" !ortion) if not five

!ercent 2%J5 of the A(ency


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of 3ecember 1) #$11. c"aims) inc"udin( those hoa""oed and disa""oed amountsnot to be deducted from the

re(u"ar !ayro"" and make themaccountab"e therefore.

reso"utions of the 3isa""oances andCOA AO0s.

#$1$ AA')Part II.A ofComment &ObservationNo.19

3e"ayed remittances of ;4I4)Pa(+IBI; and Phi"Kea"thcontribution is in vio"ation ofexistin( "as) ru"es andre(u"ations and has resu"ted tothe accumu"ation of outstandin( substantia"ba"ances of P1,. mi""ion

3ue to ;4I4) P#%.% mi""ion3ue to Pa(+IBI; and P#9mi""ion 3ue to Phi"Kea"th as of3ecember 1) #$1$.

The PPC must observe time"yremittance of (overnment sharesand !ersona" deductions to the;4I4) Pa(+IBI;) and thePhi"Kea"th to avoid incurrence of!ena"ties6surchar(es and toassure that PPC em!"oyeesen*oy the corres!ondin( benefits

due them.

'evie ) ana"yFe and ad*ust thebooks of accounts to avoid theexistence of abnorma" as e"" asunreconci"ed ba"ances.

Partia""y im!"emented.

(Reiterated in Comments andObservations No. 29 of Part II.A ofthe Report

#$1$ AA')Part II.A ofComment &Observation

No.19

The ba"ance !er (enera""ed(er of the accountPhi"ate"ic 4tam!s Inventory asof 3ecember 1) #$1$ va"ued

at cost amountin( to P.7mi""ion is overstated ascom!ared to the inventory onhand !er accountab"e officersamountin( to P.#, mi""ionva"ued at face va"ue !erresu"ts of the !hysica" countconducted by the Accountin(3ivision durin( the year.

'euire the accountab"e officersto submit 0onth"y 'e!orts ofPhi"ate"ic 4tam!s Accountabi"ity20'P4A5 and im!ose

disci!"inary measures for fai"ureto com!"y ith this reuirement.

The te""ers6custodians shou"dindicate the cost of Phi"ate"ic4tam!s 4a"es 4"i!s u!onremittance of sa"es to theCashier hich i"" be the basisfor recordin( the amount of

(Reiterated in Comments andObservations No. 2" of Part II.A ofthe Report

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sa"es) reduction) of the Inventoryand re"ated costs.

0ake the necessary ad*ustmentsto record the reversion ofunso"d6undis!osed !hi"ate"icstam!s to re(u"ar !osta(estam!s) herever necessary.

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Documents

08-PPC2012 Part2B-Status of PY's Recommendations