SLIDE 1: In continuation with the SEC Code of Corporate Governance, I will report about the principle
10,11, & 12. These principles that I am going to present focuses on the Non-financial sustainability,
promoting a comprehensive and cost-efficient access to relevant information, and internal control
system and risk management framework.
SLIDE 2: Principle 10. This is under increasing focus on non-financial and sustainability reporting. (READ)
SLIDE 3: Recommendation 10.1 (READ). We all know na daghan issues nag a surround sa world in which
it affects companies. These are external pressures which includes resource scarcity and globalization. So,
companies need to have an effective and efficient process or procedure on how they could respond to
environment, social, and economic issues that will lead to sustainability. Responding to these external
pressures will determine a company’s competitiveness and long term viability. One way to respond to
sustainability challenges is disclosure to all shareholders and other stakeholders of the company’s
strategic and operational objectives. So this is what principle number 10 suggests. This principle would
not only help the company’s performance, but also if the company exercise this principle, they will bring
sustainability to the external parties contributing positivity to economy, society, environment, and
government.
SLIDE 4: Principle 11. This is under promoting a comprehensive and cost-efficient access to relevant
information. (READ)
SLIDE 5: Recommendation 11.1 states that (READ) So first of all, what are media and analysts briefings?
This where you present your present your value proposition, roadmap, and differentiation to analysts
and get their feedback and validation. According to recommendation 11.1, this is to ensure the timely
and accurate dissemination of public, material, and relevant information to its shareholders and other
investors. Communication or disseminating relevant information is as important as the content itself.
Kay if wala kay proper and effective na pag spread sa information in which it could result to
miscommunication or misundersting and worst dili effective and decision making. So, this principle is
really important to avoid inefficient and ineffective decision making.
SLIDE 6: Principle 12. This is under Internal Control system and Risk Management framework;
Strengthening the internal control system and enterprise risk management framework. (READ)
SLIDE 7: Recommendation 12.1. (READ) Having effective internal control and an enterprise risk
management framework could improve safe and sound operations with effective management policies
to attain corporate goals. Internal control includes identification, sourcing, measurement, evaluation,
mitigation, and monitoring of risk.
SLIDE 8: Recommendation 12.2 (READ) that provides n independent and objective assurance, and
consulting services designed to add value and improve the company’s operations. The internal audit is
the one who monitors and guides the implementation of company policies. They are the ones who
provides an independent risk based assurance services, audits the laws and rules, contractual
obligations sa org., or monitors and evaluates governance processes.
SLIDE 8: Recommendation 12.3 (READ) the CAE is responsible for the internal audit activity of company.
Sila ang ga report sa Audit Committee and administratively sa CEO. One of responsibilities of a CAE is to
establish a risk-based internal audit plan, also they present findings and recommendations to the audit
committee.
SLIDE 9: Recommendation 12.4 (READ) So, para maavoid or mamitigate and risks sa company, they
should have a risk management. The risk management function defines a risk management strategy,
analyze risk exposures, develop a risk mitigation plan, also they communicate and report the risk
exposures to the Board Risk Oversight Committee, and monitors and evaluates the effectiveness of the
risk management process.
SLIDE 9: Recommendation 12.5 (READ) So, the function of the CRO is that he/she supervises the entire
ERM process, communicates the top risks and the status of implementation of risk management
strategies to the BROC, and suggests ERM policies.
So all of the principles I have discussed could really help companies to effectively monitor their actions
and performance when they focus on non-financial and sustainability reporting, promote a
comprehensive and cost-efficient access to relevant information, and strengthen their internal control
system and enterprise risk management framework. SO that’s all for my report, I hope you learn
something.