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COA flags AFP for unauthorized bank accounts, unfinished contracts

COA flags AFP for unauthorized bank accounts, unfinished contracts enablePagination: false endIndex: Metro Manila (CNN Philippines, July 13) – The Commission on Audit (COA) flagged the Armed Forces of the Philippines (AFP) for its unauthorized bank accounts worth ₱1.8 billion and dozens of incomplete projects amounting to about ₱6.8 billion. The latest COA report showed the 20 unauthorized bank accounts worth a total of ₱1,812,797,567.87 were deposited in different banks such as Land Bank of the Philippines, Development Bank of the Philippines, and United Coconut Planters Bank. COA said the AFP Modernization Act Trust Fund has the highest remaining bank account balance with more than ₱1.3 billion in three bank accounts under its Central Office, followed by the AFP Educational Benefit System Office (EBSO) with eight bank accounts that totaled ₱347.48 million.

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AFP says it is taking actions on unclosed bank accounts flagged by COA

Published July 14, 2021 10:19am The Armed Forces of the Philippines (AFP) on Tuesday said it is addressing the issue on 20 unclosed bank accounts that the Commission on Audit (COA) has flagged as unauthorized. In a statement, the AFP said the 20 bank accounts with book balance of P1,812,797,567.87 are being maintained with several banks. These accounts are for the AFP Modernization Act Trust Fund-Central Office (AFPMATF), AFP Educational Benefit System Office (AFPEBSO), AFP Real Estate Office (AFPREO), and General Headquarters Central Office (GHQ-CO). For the AFPMATF, the AFP said three accounts were already authorized by the Permanent Committee and P62,386,689.47 were remitted to the Bureau of Treasury from September 3, 2020 to February 3, 2021.

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Military explains delays in modernization projects

Military explains delays in modernization projects
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COA flags AFP for unauthorized bank accounts, unfinished contracts

COA flags AFP for unauthorized bank accounts, unfinished contracts
cnnphilippines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnnphilippines.com Daily Mail and Mail on Sunday newspapers.

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DND claims unclosed bank accounts are for ongoing projects

By JON VIKTOR D. CABUENAS, GMA News Published July 11, 2021 3:15pm The Department of National Defense (DND) said it was having difficulties closing bank accounts under the Armed Forces of the Philippines (AFP), which state auditors had flagged for being unauthorized. The Department of National Defense (DND) said it was having difficulties closing bank accounts under the Armed Forces of the Philippines (AFP), which state auditors had flagged for being unauthorized. In a statement released Sunday, the DND said it has already released guidelines to the AFP regarding the unclosed bank accounts, following the Commission on Audit (COA) report. “The DND-AFP has been processing the closure of these accounts in adherence to the COA guidelines,” the statement read.

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