ASEAN Corporate Governance Scorecard

Level 1 PRIMARY CGS SECTIONS
E.3.22

Does the Annual Report contain a statement from the board of directors/commissioners or Audit Committee commenting on the adequacy of the company's internal controls/risk management systems?

Response

YES. The  Audit Committee has reviewed the internal control sytem based on its assessment, from the reports provided by internal and external auditors, and from management's assessment of internal controls.  This is disclosed in the latest 2015 Annual Corporate Governance Report which was submitted to the SEC and PSE on January 8 and 11, 2016 respectively and posted in the Company's website.  The same has been appended in the Annual Report of the Company  filed in April 14, 2016.  The Audit Committee has submitted its Report to the Board and posted in the website as well. 

 

 

References:

1. 2015 Consolidated Changes to the Annual Corporate Governance Report - Page 43.

2. PSE EDGE Disclosure/Annual Corporate Governance Report, January 11, 2016

3. Website - Corporate Governance/Board Committees and Charters/Audit Committee Report 2015

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