Anda di halaman 1dari 2

Republic of the Philippines

COMMISSION ON AUDIT
OFFICE OF THE AUDIT TEAM LEADER
Construction Industry Authority of the Philippines
5-F 369 Executive Building, Se. Gil J. Puyat Avenue, Makati City

AUDIT MEMORANDUM
For CY 2017 Audit

THRUST AREA: Program: Compliance to HDMF Contribution

AUDIT OBJECTIVE:

A. Determine if the PAG-IBIG fund contributions and repayments of loan amortizations


from HDMF members and other borrowers in the government sector are deducted
from their salaries in accordance with the schedules prescribed in RA 9679 and loan
agreements; and

B. Determine if the amounts deducted for the payment of PAG-IBIG fund contributions
and repayment of loan amortizations are timely remitted by the government agencies
to the PAG-IBIG Fund.

RESULT/S OF AUDIT:

Verification disclosed that the CIAP deductions and remittances are as follows:

A.Premium Contributions

The CIAP withheld HDMF premium contributions totaling P615,004.64 for calendar
year 2017, of which P615,004.64 were remitted on time in CY 2017, as shown at the table
below:

Particulars Amount (In Pesos)


Employee shares withheld CY 2017 529,504.64
Employer shares withheld CY 2017 85,500.00
Total shares withheld CY 2017 615,004.64
Contributions remitted CY 2017 615,004.64
Balance 0.00
B. Modified PAG-IBIG II Contributions

The CIAP withheld HDMF modified PAG-IBIG II contributions totaling P123,000.00


for calendar year 2017, of which P123,000.00 were remitted on time in CY 2017, as shown at
the table below:

Particulars Amount (In Pesos)


Employee shares withheld CY 2017 123,000.00
Contributions remitted CY 2017 123,000.00
Balance 0.00

C. Loan Payments

The CIAP withheld payments to HDMF loans totaling P528,088.82 for calendar year
2017, of which P528,088.82 were remitted on time in CY 2017, as shown at the table below:

Particulars Amount (In Pesos)


Employee loans withheld CY 2017 528,088.82
Employee loans remitted CY 2017 528,088.82
Balance 0.00

Considering that CIAP remitted the PAG-IBIG fund contributions and repayments of
loans granted on time in compliance with the abovementioned provisions, the issuance of an
audit observation memorandum is not necessary.

Prepared by: Reviewed by:

YOLANDA P. JUAN MARIA LOURDES CENTENO


State Auditor IV, ATL State Auditor IV, OIC-DTI Audit Group