Rural Bank of Cabadbaran

Internal Audit Department

INTERNAL AUDIT REPORT

REAL AND OTHER PROPERTIES OWNED OR ACQUIRED

Members:
Gianne Cielo V. Mondano
Honey Jane M. Caingcoy
Krizzia Mae Lipio
Jane Hart Dagting
Harvey Clent De Veyra

February 2015

REAL AND OTHER PROPERTIES OWNED OR ACQUIRED

AUDIT
EXECUTIVE SUMMARY

This audit addresses internal controls over the Real and Other Properties owned
or acquired (ROPA). We conducted the audit as part of our risk-based auditing Program.
Our audit disclosed significant issues for which corrective actions are needed. These
significant issues are discussed in this executive summary and the body of this report.
Other issues identified for which we have recommended procedural revisions to
improve internal controls and enhance accountability are also discussed in the body of
this report.