GSIS has P11B in unreconciled accounts–COA | Inquirer News

GSIS has P11B in unreconciled accounts–COA

/ 04:33 AM January 17, 2013

The Government Service Insurance System (GSIS) still has unreconciled accounts amounting to P11.158 billion which  could affect members’ retirement/life claims, loan proceeds and other benefits, according to a Commission on Audit (COA) report on the agency for 2011.

The accounts for clearing are enormous when you consider that the GSIS has 1.3 million active members as of December 2012, the COA said.

Accounts for clearing is a systems, application, products (SAP) temporary lodging account for unmatched details of billing and collection, for later posting to the individual GSIS members’ ledger accounts, COA explained.

Article continues after this advertisement

According to COA, the GSIS has been trying to reconcile the accounts for several years already by implementing measures such as massive posting by the internal reconciliation department (IRD), regular extraction analysis, and the creation of teams to review the present capabilities and weaknesses of the computer programs.

FEATURED STORIES

Despite these measures, however, the balance of accounts for clearing continues to increase, said COA.

The COA report recommended that the GSIS create a task force focused on the analysis and clean-up of the P11.158 billion unreconciled accounts.

Article continues after this advertisement

The COA noted that the GSIS created this year the reconcilement task force (RTF) and technical services departments (TSDs) in the GSIS regional offices to look into the capabilities and weaknesses of the computer programs, including identification of system errors (as a result of profiling) and recommend, develop and implement enhancements to the system.

They are working together with the information technology services group (ITSG) to help clear the unreconciled accounts, it said. Cynthia D. Balana

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS:

No tags found for this post.
Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.