COA enjoins financial institution to follow procurement rules

MANILA, Philippines - The Commission on Audit (COA) has called out the Development Bank of the Philippines Leasing Corporation for not following the rules on procurement of office supplies.   According to the audit report, DBP Leasing Corporation acquired items not in accordance with the prescribed methods according to Revised Implementing Rules and Regulations (IRR) of R.A. 9184 or the Government Procurement Reform Act.   As a recommendation, COA said that the agency should refrain from purchasing equipment on several instances through the year, especially if it can be purchased through the Procurement Service of the Department of Budget and Management (PS-DBM) usi...

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