11. Corporate Vision/Mission |
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a. Has the board reviewed the vision and mission/ strategy in the last financial year? |
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- Board Resolution No. 005-2020
- For CY2018, the Board reviewed the mission and mission/strategy of PCA.
- Board Resolution No. 031-2018: Amending the PCA Manual of Corporate Governance.
- During the Board Meeting held in Malacañang on the 17th of May 2017, has reviewed the PCA Corporate Strategy, Strategy Map and Charter Statement for CY2017.
- Board Resolution No. 058-2017.: Approving the 2017-2022 Strategy Map, Charter Statement & 2017 Performance Scorecard
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b. Does the board monitor/oversee the implementation of the corporate strategy? |
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12. Did the GOCC achieve 90% in the PES? |
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13. Code of Ethics or conduct |
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a. Are the details of the code of ethics disclosed? |
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b. Does the GOCC disclose that all directors, senior management, and employees are required to comply with the code? |
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c. Does the GOCC disclose how it implements and monitors compliance with the code of ethics? |
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14. Does the board appoint a Nomination and Compensation / Renumeration Committee? |
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15. Did the NCRC meet at least twice during the year? |
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16. If yes, is the report of the NCRC publicly disclosed? |
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17. Does the board appoint an Audit Committee? |
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18. If yes, is the report of the AC publicly disclosed? |
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19. Does atleast one member of the AC (director) have an audit, accounting or finance background, qualification, experience? |
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20. Did the AC meet at least four times during the year? |
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21. Does the board appoint a Risk Management Committee? |
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22. If yes, is the report of RMC publicly disclosed? |
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23. Does atleast one member (director) of the RMC have a background in Finance and Investments? |
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24. Board Meetings and Attendance |
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a. Are the board meetings scheduled at the beginning of the year or end of Q1? |
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b. Does the board meet at least monthly? |
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c. Did the board meet on at least 75% on their scheduled meeting? If not, state explanation. |
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d. Has each of the directors attended at least 90% of all board meetings held during the year? If not, state explanation. |
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e. Did the board meet separately at least once during the year without the Administrator present? |
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25. Access to Information |
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a. Does the GOCC have a policy that stipulates board papers for board meetings be provided to the Board at least (3) working days in advance? |
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b. Is the Board Secretary trained in legal, accountancy or company secretarial practices? |
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26. Internal Audit |
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a. Does the company have a separate internal audit function? |
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b. Does the appointment and removal of the internal auditor require the approval of the AC? |
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27. Risk Oversight |
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a. Does the company disclose the internal control procedures/risk management systems it has in place? |
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b. Does the company disclose how key risks are managed? |
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c. Does the annual report contain a statement from the board or AC commenting on the adequacy of the GOCC's internal controls/risk management systems? |
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- The Board Audit Committee is a standing committee of the Board of Directors. The purpose of the committee is to assist the Board in fulfilling its oversight responsibility relating to:
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- The integrity of the Authority's financial statements, the engagement of the independent auditors and the evaluation of the independent auditor's qualifications, independence and performance.
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- The performance of internal audit services function:
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- The annual independence audit of the authority's financial statements, the engagement of the independent auditors and the evaluation of the independent auditor's qualifications, independence and performance.
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- In discharging its responsibilities, the Committee is not itself responsible for the planning or conduct of audits or for any determination that the Authority's financial statements are complete and accurate or in accordance with generally accepted accounting principles. This is the responsibility of management and the independent auditors.
- 2017 Report, Good Governance p.14
- 2016 Report, Good Governance p.3
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28. Board Chairman |
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a. Do different persons assume the roles of Chairman and CEO? |
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29. Board Development |
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a. Does the GOCC have orientation program for new directors? |
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b. Does the GOCC have a policy that encourages directors to attend on-going or continuous professional education program? |
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- For CY2018, there was no policy that encourages directors to attend on-going or continuous professional education program.
- Following the requirement of the GCG pursuant to its M.C. No. 2015-05, Item II, Sec. 5(h), the Office of the Corporate Secretary has included the trainings of all appointive directors annually.
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c. Did all appointive directors attend atleast(1) training for the calendar year? If not, state explanation? |
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30. Board Appraisal |
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a. Is an annual performance assessment conducted of the board? |
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b. Does the GOCC disclose the process followed in conducting the board assessment? |
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c. Does the GOCC disclose the criteria used in board assessment? |
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31. Committee |
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a. Is an annual performance assessment conducted of the committees? |
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