Advancing corporate governance in the Philippines
This survey report is conducted by Isla Lipana & Co./PwC Philippines for the Good Governance Advocates & Practitioners of the Philippines (GGAPP).
Respondents were asked about the current practices of publicly listed companies, their readiness to comply, and the changes needed to adapt to the 2016 Code of Corporate Governance for Publicly Listed Companies issued by the Securities and Exchange Commission.
More effort is needed for the broader acceptance and adoption across various categories of listed companies.
Results of the survey should help increase the maturity of CG practices, contribute inclusive development in the CG environment, and drive better perception from stakeholders and international institutions.
“Comply or Explain” principle (approach that combines voluntary compliance with mandatory disclosure) should drive more insightful assessments and decisions towards embedding CG in the organization.
Conduct more thorough and targeted studies on the various dimensions of the new CG code and Philippine CG in general.