CORPORATE GOVERNANCE SCORECARD 2025
CITEM Submission | citem.gov.ph/corporate-governance
| GRP/ITEM | QUESTION | CITEM COMPLIANCE | ANS | REFERENCE LINK / SUPPORTING DOCUMENTS |
|---|---|---|---|---|
| I. STAKEHOLDER RELATIONSHIP | ||||
| I, 1.a | Does the GOCC disclose a policy that: Stipulates the existence and scope of its effort to address customer's welfare? |
Section 52 of the CITEM's Manual of Corporate Governance (Recognizing the Stakeholders and Nature of their Interests) identified its various stakeholders as follows:
Government SMEs General Public Partner government agencies and other external agencies Private Corporations having similar nature of business as CITEM
Section 55 of the manual also stated CITEM's policies on dealings with its customers as follows:
CITEM should operate a highly effective and efficient organization, focused on meeting customer objectives with the aim of providing services which give fair value and consistent quality, reliability, and safety in return for the price paid for the same. CITEM should implement policies of continual improvement, of both processes and skills of the staff, to take best advantage of advances in all aspect of society in order to ensure that it continues to add value to its customer's businesses. CITEM should have a clear and strong line of communication which allows them to respond quickly and efficiently to customer and market requirements, and to the government for the customers to receive consistent service in order to successfully and consistently deliver what CITEM is mandated to do.
|
Y | CITEM Manual of Corporate Governance, Section 52 and 55, page 15 Corporate Governance Manual (page 15) |
| I, 1.b | Does the GOCC disclose a policy that: Elaborates its efforts to interact with the communities in which they operate? |
CITEM's policy on interacting with the communities around it can be found in the following sections of CITEM's Manual of Corporate Governance:
Section 47. Corporate Social Responsibility. As an integral part of the National Government, GOCCs are inherently mandated to be socially responsible, to act and operate as good corporate citizens. (page 14) Section 49. Relationship with Stakeholders, of the revised CITEM's Manual of Corporate Governance stated its policy on interacting with its stakeholders. It was also mentioned that the Governing Board of CITEM shall recognize and perform its obligations towards the National Government, together with the employees, suppliers, customers, and other stakeholders, and to communities in which it operates. (page 14)
|
Y | CITEM Manual of Corporate Governance, Section 47 and 49, page 14 Corporate Governance Manual (page 14) |
| I, 1.c | Does the GOCC disclose a policy that: Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development? | Section 48, Environment, of the CITEM's Manual of Corporate Governance under 'Corporate Social Responsibility' stated that, to wit:
"In the course of the operations of CITEM, it should identify opportunities to reduce consumption of energy, water and other natural resources. CITEM should also strive to re-use and recycle where possible and dispose of non-recyclable items responsibly, thereby minimizing our impact on the environment, in doing so, by adopting simple, environmentally friendly initiatives, CITEM will raise awareness among the community".
|
Y | CITEM Manual of Corporate Governance, Section 48, page 14. Corporate Governance Manual (page 14) |
| I, 2.a | Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies? (Customer health and safety) | CITEM's Signature Event for food sector, the IFEX Philippines, was held on 22-24 May 2025 at the World Trade Center Metro Manila. During the event, visitors are advised to take necessary precautions to safeguard their health in public. They were also encouraged to be mindful of their surroundings and personal belongings as they move through the different booths and sections of the trade fair. A medical team was available at the Satellie Clinic at the venue's main lobby to assist stakeholders with health concerns/emergencies. Likewise, CITEM EXCOM and MANCOM members were onsite to assist VIPs, special guests and visitors throughout the event. On the other hand, CITEM's Signature Event for Home, fashion and lifestyle sectors, the Manila FAME 2025 was held on 16-18 October 2025 at the World Trade Center Metro Manila (WTCMM). During the event proper, the CITEM EXCOM and MANCOM members were required to be present at all times to assist VIPs/special guests and welcome visitors during the Opening Ceremony and VIP tour. Everyone was required to familiarize themselves with the event’s activities and be prepared to answer inquiries from trade buyers, visitors, exhibitors, guests, and public viewers. The assigned employees with flu-like symptoms were also required to wear face masks and observe proper hygiene at the venue. Likewise, a satellite clinic was provided for the employees and other stakeholders for first aid/health concerns. Everyone was reminded to stay hydrated and be alert to hazards as well as report spills, tripping hazards, or malfunctioning equipment. Moreover, Senior Citizens and Persons with disabilities (PWDs) were also provided with priority/special registration lane during the event proper. The above protocols help ensure customer health and safety during CITEM-organized Signature Events. |
Y | 2025 Signature Events: Show Rules and Protocols |
| I, 2.b | Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies? (Interaction with the communities) | CITEM donated the amount of P5,000.00 to support the Gintong Landas Project 2025 of Create a Job Disable Association, Inc. which provides assistive and mobility devices to individuals with disabilities to enhance their quality of life. Through this project, CITEM contributed to the achievement of the UN’s Sustainable Development Goal on Good health and Well-being. CITEM likewise donated the amount of Php 5,000.00 to support the Alay Kapwa Campaign of Caritas Manila, Inc. which aims to provide emergency relief assistance to the victims of natural disasters. Through this project, CITEM contributed to the achievement of the UN’s Sustainable Development Goals on No Poverty, Zero Hunger, as well as Climate Action. Likewise, CITEM also made donations of Php 5,000.00 to support the ICanServe Foundation, Inc. which aims to promote and conduct breast cancer control programs. Through this project, CITEM contributed to the achievement of the UN’s Sustainable Development Goal on Good health and Well-being. Details of CITEM's FY2025 CSR activities are available in the agency’s website. |
Y | CITEM CSR Activities 2025 |
| I, 2.c | Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies? (Environmentally-friendly value chain) | Incorporating Sustainability and SDG Goals in CITEM PAPs. From 22-24 May 2025, CITEM implemented the Sustainability Solutions Exchange (SSX) as a feature event of International Food Exhibition Philippines (IFEX Philippines). SSX has three main components: the Exhibition, Conference, and the Pitching Sessions held within tFEX Philippines at the World Trade Center Metro Manila, Pasay City. The Conference carried the theme “Green Innovations: Navigating Sustainability Solutions to Future-Proof the Food Industry” and ran at the Philippine Trade Training Center, featuring panel sessions led by local and international experts under Business and Consumer Tracks. The exhibition hosted 60 SSX exhibitors, including AA Global OPC, a producer of plant-based food products; EkoFuture, a maker of eco-friendly straws; and ARKA Inc., an agriculture platform, drawing strong buyer and consumer interest. The Department of Science and Technology-Philippine Council for Industry, Energy and Emerging Technology Research and Development (DOST-PCIEERD) supported CITEM during the pitching sessions, providing a dynamic space for innovative solutions to challenges in sustainability, agriculture, and retail. SSX is the country’s first platform promoting sustainable practices, resources, and technology to the world’s essential industries. SSX is in the service of MSMEs across various export sectors that seek to start or continue their journey toward a circular economy, supporting the country’s commitment to the Sustainable Development Goals (SDGs). To date, CITEM is maintaining the website (www.sustainability.ph) which is the online community platform for SSX. It promotes products, services and an exchange of ideas on sustainable consumption and production. The website features a diverse range of stories about sustainable technologies, interventions and practices that seek to engage businesses and consumers to start or continue their journey towards sustainability. Some articles uploaded in CY2025 in the SSX website are as follows:
SSX is also a hub for business, partnerships, and networking. This helps empower CITEM stakeholders by becoming a sustainability partner or enabler. Implementing Energy Conservation Measures Agency-Wide. CITEM also strived to reduce consumption of energy thru observance of the following energy conservation measures:
|
Y | Sustainability Solutions Exchange (SSX) Some articles uploaded in the SSX website in CY2025:
|
| I, 3 | Does the GOCC have a separate corporate social responsibility (CSR) report/section or sustainability report/section? | CITEM has a CSR report uploaded on the agency's website. Likewise, CITEM is maintaining the website www.sustainability.ph which is the online community platform for Sustainability Solutions Exchange (SSX). It promotes products, services and an exchange of ideas on sustainable consumption and production. The website features a diverse range of stories about sustainable technologies, interventions and practices that seek to engage businesses and consumers to start or continue their journey towards sustainability.. Some articles uploaded in CY2025 in the SSX website are as follows:
|
Y | CITEM CSR Activities 2025 Sustainability Solutions Exchange (SSX) Some articles uploaded in the SSX website in CY2025:
|
| I, 4 | 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? | CITEM has contact details dedicated for complaints/concerns: CITEM-Citizen-Charter 2025.pdf, p. 31 Feedback and Redress Mechanisms: To promote transparency and constant improvement, CITEM encourages stakeholders to express their feedback, concerns, complaints, and suggestions through the following channels, as indicated in the Citizen’s Charter at CITEM’s official website:
|
Y | CITEM-Citizen-Charter 2025 , p. 31 |
| I, 5.a | Performance-enhancing mechanisms for employee participation should be permitted to develop. Does the GOCC explicitly mention the health, safety and welfare policy for its employees? |
CITEM's policy on employee health, welfare and safety is available in the following:
Employees' Manual/Handbook (pages 16-17) Revised-Manual of Corporate Governance:Section 39, page 13. Tralning and Development for CITEM Employees. Section 40. Health and Safety, page13 - CITEM shall have development discussions and structured training programs for personal and professional development for CITEM employees.
Section 40. Health and Safety, page13
CITEM should aim to ensure a safe and healthy working environment for all its employees, outside contractors and visitors. It should comply with all relevant local legislation or regulation, and best practice guidelines recommended by national health safety authorities. Every CITEM employees should be informed regarding the policies and practices of the GOCC in order to maintain a healthy, safe and enjoyable environment. |
Y | Employee-Handbook/Manual, pages 16-17 CITEM Manual of Corporate Governance, VII. Section 39. Health and Safety, page 13. Section 40. Health and Safety, page 13. |
| I, 5.b | Does the GOCC publish data relating to health, safety and welfare of its employees? | CITEM implemented several programs related to health, safety and welfare of its employees which are available in the following documents:
The CITEM Clinic also reported on the number of clinic transactions in 2025, which includes the following cases, among others:
|
Y | CITEM Wellness Programs CY 2025 CITEM Clinic Report 2025 |
| I, 5.c | Does the GOCC have training and development programs for its employees? | CITEM has a list of Training Programs attended by CITEM Employees in 2025. The list includes objectives/brief description of the training programs. | Y | Training Programs CY 2025 |
| I, 5.d | Does the GOCC publish data on training and development programs? | Data on training and development programs for CITEM employees are available in the document 'Training Programs CY 2025. Data includes training/program title, number of participants per program, average hours per training held and sex-disaggregated data. | Y | Training Programs CY 2025 |
| I, 6.a | 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 GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior? | CITEM 's Revised Whistleblowing Policy encourages each employee to speak up when there is an issue or concerns that affects work or accomplishments. It promotes an environment of open communication between employees and all levels of management; to ask questions and report concerns. It is the obligation of everyone to speak up or report about a known or suspected violation to protect the Agency. Whistleblowers may report such acts or omissions that are illegal, unethical, violate good governance principles, against public policy and morals, promote unsound and unhealthy business practices, violate CITEM’s policies, procedures, rules and regulations, or are grossly disadvantageous to CITEM and/or the Government. A Whistleblowing Report (WR) shall be in writing, which contains sufficient facts with basis. Reporting can be submitted through the following reporting portals:
Under the said policy, it shall treat all reports, including the identity of the whistleblower/person concerned and the respondent, in an utmost confidential and sensitive manner. Each issue or report will be handled or investigated promptly, consistently, and appropriately. CITEM will observe due process where the respondent will be given the chance to hear and explain his/her side within 15 days from receipt thereof. Personnel who initiate a report may be updated on the actions taken, to the extent allowed by law. Details of the said policy is available in the CITEM website. |
Y | Revised Whistleblowing Policy |
| I, 6.b | Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation? | CITEM's Revised Whistleblowing Policy encourages each employee to speak up when there is an issue or concerns that affects work or accomplishments. Under the said policy, it shall treat all reports, including the identity of the whistleblower/person concerned and the respondent, in an utmost confidential and sensitive manner. The procedures to protect the whistleblower Against Retaliation are included in the said policy:(page 3, Section 8)
|
Y | Revised Whistleblowing Policy, page 3 |
| II. DISCLOSURE AND TRANSPARENCY | ||||
| II, 7.a | Does the GOCC's website disclose the following item: Corporate objectives |
CITEM's corporate objectives are available in CITEM website as well as in page 2 of CITEM's 2025 Performance Scorecard and Strategy Map. | Y | CITEM Website: Vision/Mission 2025 Performance Scorecard, page 2 |
| II, 7.b | Does the GOCC's website disclose the following item: Financial performance indicators |
CITEM's Financial strategic measures are available in CITEM website – pages 4 to 5 of CITEM's 2025 Performance Scorecard as follows:
SM6 - CRR; SM7 - Budget Utilization Rate (BUR) SM7a – Obligations Subsidy BUR; SM7b - Disbursements Subsidy BUR; and SM7c – Corporate Funds BUR
|
Y | 2025 Performance Scorecard and Strategy Map, page 4 |
| II, 7.c | Does the GOCC's website disclose the following item: Non-financial performance indicators |
CITEM's non- financial strategic measures are available in pages 3-6 of CITEM's 2025 Performance Scorecard as follows:
|
Y | 2025 Performance Scorecard, page 3 |
| II, 7.d | Does the GOCC's website disclose the following item: Details of whistle-blowing policy |
CITEM 's Revised Whistleblowing Policy encourages each employee to speak up when there is an issue or concerns that affects work or accomplishments. It promotes an environment of open communication between employees and all levels of management; to ask questions and report concerns. It is the obligation of everyone to speak up or report about a known or suspected violation to protect the Agency. Under the said policy, it shall treat all reports, including the identity of the whistleblower/person concerned and the respondent, in an utmost confidential and sensitive manner. Each issue or report will be handled or investigated promptly, consistently, and appropriately. CITEM will observe due process where the respondent will be given the chance to hear and explain his/her side within 15 days from receipt thereof. Personnel who initiate a report may be updated on the actions taken, to the extent allowed by law. Said policy is available in the CITEM website. |
Y | Revised Whistleblowing Policy |
| II, 7.e | Does the GOCC's website disclose the following items: Biographical details (at least age, qualifications, date of first appointment, relevant experience, and any other directorships of listed companies) of directors/commissioners | Biographical Details of CITEM Board of Governors are available in the CITEM Website. | Y | CITEM Board of Governors-Executive Profile |
| II, 7.f | Does the GOCC's website disclose the following items: Training and/or continuing education program attended by each director/commissioner | CITEM Executive Director Leah Pulido Ocampo attended the following in Training / workshops in FY 2025:
|
Y | Training and/or continuing education programme attended CITEM BOG Training_Continuing education attended FY2025 |
| II, 8 | Are the annual reports downloadable from the GOCC's website? | |||
| II, 9 | Does the GOCC's website 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 such issue? | CITEM’s website contains a statement confirming the agency’s full compliance with the Code of Corporate Governance. | Y | CITEM Website - Statement of Full Compliance with the Code of Corporate Governance |
| II, 10.a | Are the audited annual financial report/statement uploaded on the website within 60 days upon receipt from COA? | |||
| II, 10.b | Is the annual report released within 90 days from release of audited financial report? | |||
| II, 10.c | Is the true and fairness/fair representation of the annual financial statement/reports affirmed by the board of directors/commissioners and/or the relevant officers of the company? | |||
| III. BOARD RESPONSIBILITY | ||||
| III, 11.a | Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year? | YES The Board of Directors formally reviewed and approved the CITEM Vision and Mission/strategy for FY 2025 Reference:
|
YES | Excerpt from The BM Strategy Map 2025 Performance Scorecard and Strategy Map |
| III, 11.b | Does the Board of Directors monitor/oversee the implementation of the corporate strategy? | YES
|
YES | |
| III, 12 | Did the GOCC achieve 90% in the PES? | |||
| III, 13.a | Are the details of the code of ethics or conduct disclosed? | YES References: Section 1-12 Code of Conduct and Ethical Standards of CITEM Officials and Employees |
YES | Code of Conduct |
| III, 13.b | Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code? | YES References: Section 1 Code of Conduct and Ethical Standards of CITEM Officials and Employees |
YES | Code of Conduct |
| III, 13.c | Does the company disclose how it implements and monitors compliance with the code of ethics or conduct? | YES References:
|
YES | Code of Conduct New Employees' Orientation |
| III, 14 | Does the Board appoint a Nomination Compensation / Remuneration Committee? | YES Nominations and Combined Committee was approved on Aug. 15, 2025
|
YES | Secretary's Certificate |
| III, 15 | Did the Nomination Compensation/Remuneration Committee meet at least twice during the year? | NO The Nominations and Combined Committee was later approved on August 15, 2025 |
NO | |
| III, 16 | If yes, is the report of the Nomination Compensation/Remuneration Committee publicly disclosed? | NO The Nominations and Combined Committee was later approved on August 15, 2025 |
NO | |
| III, 17 | Does the Board appoint an Audit Committee? | YES The Audit and Risk Management Committee was approved on Aug. 15, 2025
|
YES | Secretary's Certificate |
| III, 18 | If yes, is the report of the Audit Committee publicly disclosed? | NO The Audit and Risk Management Committee was later approved on August 15, 2025 |
NO | |
| III, 19 | Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)? | YES Jose Arnulfo A. Veloso is the President and General Manager of the Government Service Insurance System (GSIS). He has extensive experience in banking, finance, investment management, and corporate governance, having previously served as President and CEO of the Philippine National Bank (PNB). His professional background includes financial management, capital markets, and institutional investment, which provides strong expertise relevant to audit, accounting, and financial oversight functions. |
YES | Jose Arnulfo A. Veloso CITEM Board Appointment |
| III, 20 | Did the Audit Committee meet at least four times during the year? | NO The Audit and Risk Management Committee was later approved on August 15, 2025 |
NO | |
| III, 21 | Does the Board appoint a Risk Management Committee? | YES The Audit and Risk Management Committee was approved on Aug. 15, 2025
|
YES | Secretary's Certificate |
| III, 22 | If yes, is the report on Risk Management Committee publicly disclosed? | NO The Audit and Risk Management Committee was later approved on August 15, 2025 |
NO | |
| III, 23 | Does at least one member of the Risk Management Committee have a background in finance and investments? | YES Jose Arnulfo A. Veloso is the President and General Manager of the Government Service Insurance System (GSIS). He has extensive experience in banking, finance, investment management, and corporate governance, having previously served as President and CEO of the Philippine National Bank (PNB). His professional background includes financial management, capital markets, and institutional investment, which provides strong expertise relevant to audit, accounting, and financial oversight functions. |
YES | Jose Arnulfo A. Veloso CITEM Board Appointment |
| III, 24.a | Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1) | YES The 2025 Board Calendar has not been presented. However, each board meeting in 2025 was communicated to the board and included in the agenda/board papers. |
YES | CITEM Board of Governors Regular Board Meetings |
| III, 24.b | Does the Board of Directors meet at least monthly? | NO Did not meet the requirement. It is the policy of the board that meetings shall be held on a quarterly basis or 4x a year. |
NO | |
| III, 24.c | Did the Board of Directors meet on at least 75% on their scheduled meetings? | YES In 2025, although there were 7 meetings conducted, it did not meet and follow the scheduled Board meeting. References: Board Meeting Policy and Actual meeting and attendance |
YES | CITEM Board of Governors Regular Board Meetings |
| III, 24.d | Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year? | YES Reference: Board Meeting Policy and Actual meeting and attendance 2025 |
YES | CITEM Board of Governors Regular Board Meetings |
| III, 24.e | Did the Board of Directors meet separately at least once during the year without the President/CEO present? | YES Meeting without the CEO was held on March 18, 2025 Reference: Board Meeting Policy and Actual Meeting and Attendance 2025 |
YES | CITEM Board of Governors Regular Board Meetings |
| III, 25.a | Does the GOCC have a policy that stipulates board papers for Board of Directors/Commissioners meetings be provided to the Board at least three (3) working days in advance of the board meeting? | YES Board must be provided with board papers for the upcoming meeting at least 3 working days in advance indicated under the CITEM Board of Governors Regular Board Meetings' policy. References:
|
YES |
Section 6 (b) of the Rules on the Conduct of CITEM Board of Governors Meeting |
| III, 25.b | Is the Board Secretary trained in legal, accountancy or company secretarial practices? | YES The Board Secretary is a lawyer Reference: Personal Profile |
YES | CITEM Board Secretary Profile |
| III, 26.a | Does the company have a separate internal audit function? | YES The agency’s Internal Audit Service Unit has been working for the agency’s ISO Certification. References:
|
YES | |
| III, 26.b | Does the appointment and removal of the internal auditor require the recommendation of the Audit Committee? | YES References: Stated in page 2 (no. 5) of the functions of the Audit and Risk Management Committee |
YES | Committees in the CITEM Board and Appraisal |
| III, 27.a | Does the company disclose the internal control procedures/risk management systems it has in place? | YES The company completely disclosed their internal control procedure/risk management system. References: CITEM Risk Management System |
YES | CITEM Risk Management System |
| III, 27.b | Does the Annual Report disclose that the board of directors/commissioners has conducted a review of the company's material controls (including operational, financial and compliance controls) and risk management systems? | Statement of Management's Responsibility The Board of Governors reviews and approves the financial statements, including the schedules attached therein, and submits the same to the stakeholders and other uses. |
YES | Statement of Management's Responsibility |
| III, 27.c | Does the company disclose how key risks are managed? | YES The company completely disclosed their internal control procedure/risk management system. References: CITEM Risk Management System |
YES | CITEM Risk Management System |
| III, 27.d | Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC's internal controls/risk management systems? | YES Reference:
|
YES | |
| III, 28 | Do different persons assume the roles of Chairman and CEO? | YES DTI Secretary or its alternate is the Chairman of the Board, while the Executive Director is an appointive member of the Board. References:
|
YES | |
| III, 29.a | Does the GOCC have orientation programs for new Directors? | YES CITEM, through the Corporate Secretary and the Executive Committee, conducts orientation programs for new Directors. References:
|
YES | |
| III, 29.b | Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programs? | YES The company has a policy that encourages directors/commissioners to attend educational programs and they also include the list of training that was attended by the board of directors. References:
|
YES | |
| III, 29.c | Did all Appointive Directors attend at least 1 training for the calendar year? | CITEM Executive Director Leah Pulido Ocampo attended the following in Training / workshops in FY 2025:
|
YES | Training and/or continuing education programme attended CITEM BOG Training and Continuing Education Attended - FY 2025 |
| III, 30.a | Is an annual performance assessment conducted of the Board of Directors? | YES References: Board and Board Committee Assessment for FY2025 |
YES | CITEM Board and Committee Appraisal System |
| III, 30.b | Does the GOCC disclose the process followed in conducting the Board assessment? | YES References: Board and Board Committee Assessment for FY2025 |
YES | CITEM Board and Committee Appraisal System |
| III, 30.c | Does the GOCC disclose the criteria used in the Board assessment? | YES References: Board and Board Committee Assessment for FY2025 The Appraisal system shall be conducted annually by the Board Committees, using the following 4 criteria—FINANCIAL, GOVERNANCE, PERFORMANCE, OPERATIONS AND MANAGEMENT. |
YES | CITEM Board and Committee Appraisal System |
| III, 31 | Is an annual performance assessment conducted of the Board of Directors Committees? | YES References: Board and Board Committee Assessment for FY2025 CITEM conducted an annual performance assessment of the Board Committees. |
YES | CITEM Board and Committee Appraisal System |
| IV. BONUS | ||||
| IV, 1. Stakeholder Relationship | Does the GOCC practice Global Reporting Index (GRI) on its annual reports? | |||
| IV, 2. Timely release of annual financial report | Is the audited annual financial report/statement released within 30 days upon receipt from COA? | |||
| V. PENALTY | ||||
| V, 1. Responsibilities of the Board | Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs? | |||
| V, 2. Responsibilities of the Board | Is there non-compliance with Good Governance Conditions? | Note: Validation of Compliance to Good Governance Conditions for FY 2025 is ongoing. | N/A | N/A |