COA finds out 181 of its own paintings are missing

The Commission on Audit, the constitutional agency tasked with auditing the use of government funds and revenues, has uncovered what it described as possibly a “significant loss of government assets. “

And that loss happened in its own backyard.

In an inventory report released last January 29, COA said that 181 paintings owned by the agency are missing. This number is more than half of the artworks which are recorded as COA’s properties.

The loss was discovered after COA Central Office ordered a physical inventory of the agency’s “plant, property and equipment,” a requirement of the Government Auditing Code of the Philippines to ascertain the existence and valuation of all assets. 

The inventory report is included in the 2019 audit of the agency.

The audit team which conducted the inventory said the missing paintings were “valuable” and, if not recovered, would be a “significant loss of government assets.”

The group found out about the missing paintings when it noted the discrepancies between the records of the accounting and property divisions.

The records of the accounting division, the audit team said, showed the COA possessed 353 paintings.

In the separate list of COA’s property division, only 172 artworks were mentioned.

“The 181 paintings that are not included in the RPCPPE (Report on the Physical Count of Property, Plant, and Equipment) are deemed to be not physically verified during the conduct of the physical inventory for 2019, hence, considered missing,” said the report.

The paintings were acquired throughout the years when these were brought to the agency by former COA chairs, commissioners, assistant commissioners and other officials.

The audit team said the artworks “convey symbolic significance/importance acquired over a length of time that commands a substantial financial value.” The group, though, did not assess the individual value of each piece of painting.

Reacting to the audit team report, COA management said it has ordered the the accounting office to reconcile its records with the RPCPPE-Works of Art and Archeological Specimens.

It recommended that the COA make a complete and comprehensive inventory of the artworks and try to locate the missing 181 paintings.

Aside from that, the audit team said there should be a valuation or catalogue of the COA’s artwork collection. This catalogue would determine the current market value of the art pieces, and this will then be reflected in the books.

The team recommended an investigation and the filing of charges “against persons found negligent or at fault in the handling or safekeeping of the missing paintings.” – Rappler.com