Presidential Decrees1 min read
Section 59Sec./Art. 59
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Audit of Liabilities. In his audit of liabilities the auditor shall seek to establish that all obligations of the agency have been accurately recorded; only bonafide obligations of the agency have been included; the obligations incurred are properly authorized; all provisions of trust indentures or mortgages are complied with; and mortgages and other encumbrances are fully disclosed.
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