CMCS: Session 2: Exercise 2-B

Mr. Yulo should not be tolerated to have access to accounting records because it will allow him to manipulate the records to his advantage.

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A newly appointed or designated AO, she should be briefed by the Chief of the Finance/Treasury Unit and the Accountant on the proper recording of transactions in the appropriate accountable and accounting forms and other matters related to her work.

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Collecting Officers/ Treasurers/ Property Officers who are accountable for receipts, stamps and other accountable forms in their possession should keep adequate records and reports thereof and should be regularly prepared and submitted to the COA.

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Reconciliation of bank depository accounts should be done by persons other than those responsible for the handling of cash collections. He or she must be a personnel of the Accounting Unit.

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Collections shall be acknowledged with pre-numbered official receipts printed by the National Printing Office (COA Cir. 88-290). At no instance shall temporary receipts be issued to acknowledge the receipt of public funds. (Sec. 72, GAAM Vol. 1)

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Report of Accountability for Accountable Forms should be prepared and submitted by all accountable officers. (Sec. 98 of GAAM Vol. 1) Preparation thereof should not be done by an employee other than the Accountable Officer/ Collecting Officer.

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Private checks drawn for purposes other than payment of taxes or dues in favor of the government shall not be accepted for encashment or exchange. (Sec. 105, GAAM Vol. 1)

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Local Treasurer shall deposit intact all collections made by him as well as the collections turned over to him by the collectors/tellers with the AGDB daily or not later than the next banking day. He shall record all deposits made in the cashbook and prepare the RCD.

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Safes and other facilities should be provided to ensure protection of cash and unused accountable forms.

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Surprise cash examinations should be made frequently by internal and external auditors.

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