Whereas, physical inventory-taking is an indispensable procedure for checking the integrity and custodianship of government properties; Whereas, Commission on Audit (COA) Circular No. 80-124 dated 18 January 1980 mandates the creation of Inventory Committee, which shall take charge of the physical inventory-taking, consisting of two or more employees designated by the head of the agency including the property/administrative officer or custodian depending on the extent of his accountability;