Where stakeholder interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights.
Does the GOCC provide contact details via the company’s website or Annual Report which stakeholders (e.g. customers,suppliers, general public, etc.) can use to voice their concerns and/or complaints for possible violation of their rights?
Stakeholders including individual employee and their representative bodies, should be able to freely communicate their concerns about illegal or unethical practices to the board and their rights should not be compromised for doing this.
Does the Annual Report contain a statement confirming the company’s full compliance with the code of corporate governance and where there is non-compliance, identify and explain reasons for each issue?
Does the Board of Directors monitor/oversee the implementation of the corporate strategy?
The Board monitors and evaluates the implementation of the corporate strategies and policies, business plans and operating budgets, as well as Management’s over-all performance through the reports during the Management Committee Meeting which are usually held once a month. This is in compliance with Part 3 Section 3.3.3 of the Manual on Corporate Governance.
Does the Annual Report disclose that the Board of Directors/Commissioners has overseen a review of the company’s materials controls (including operational,financial and compliance controls) and risk management systems?
Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programmes?
Manual on Corporate Governance
Part 3.1 of PCIC’s Manual on COrporate Governance mandates the Governance Committee to encourage Directors to attend on-going or continuous professional education programs. Attendance of the Directors to orientations, seminars, workshops, other educational programs recommended by PCIC and/or the Governance Committee serves as service to the Corporation.Board Policies
Did all Appointive Directors attend at least 1 training for the calendar year?
Is an annual performance assessment conducted of the Board of Directors?
The Board of Directors conducts its annual performance assessment through the Performance Evaluation for Directory System (GCG MC No. 2014-03) developed by the GCG. Directors are made to answer the self-appraisal form and peer-appraisal form through the iped.gcg.gov.ph which increases the level of confidentiality of Director Performance Review results.