November 26, 1987

COA MEMORANDUM NO. 1987-521

TO : All Directors, State Auditors, Property Officers, Members of the Inventory Teams
Created Under Office Order No. 87-10571 and All Others Concerned
SUBJECT : Guidelines in the Conduct of Physical Inventory Taking
To implement COA Office Order No. 87-10571 dated November 13, 1987, the following procedures
shall be observed in the physical count/inspection of properties in the Central/Regional Offices:
1) The Memorandum Receipts issued shall be examined and the physical existence of the
property covered thereby shall be determined.
2) The physical count of property shall be undertaken by Office/Division/Unit to be
witnessed by a representative each of the Office/Division/Unit and of the COA Auditor
together with the inventory team.
3) The Head of office/division/unit shall be issued the corresponding memorandum receipts
for properties found in said office/division/unit where no definite end-user is identified
and where no MR's have been earlier issued to cover the same.
4) The Head of office/division/unit shall sign the inventory report jointly with the Inventory
Team and the COA Auditor.
5) The Director, Administrative Office, Central Office shall sign the consolidated inventory
report for the Central Office jointly with the inventory team. The Regional Directors shall
sign the consolidated inventory report for their respective regions jointly with the
inventory teams.
6) The inventory listing produced shall be checked against the equipment ledger cards and
the totals thereof compared with those in the general ledger/trial balance.
Strict compliance herewith is enjoined.

(SGD.) EUFEMIO C. DOMINGO

​Chairman