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Globe Says Integrity of Financial Disclosures and Reporting Cornerstones of Good Corporate Governance
Globe, the country’s mobile leader and digital solutions platform, emphasizes integrity, accountability and transparency in its financial reporting standards as part of its commitment to uphold good corporate governance across the organization.
As a publicly listed company following the Philippine Financial Reporting Standards (PFRS), Globe’s management is responsible for providing, in a timely manner, complete and accurate financial information on its operations.
“Globe is committed to best practices in corporate governance to deliver continuous value for our customers, employees, and stakeholders. Good corporate governance is central in the way we do business and serves as our North Star in making business decisions,” said Rizza Maniego-Eala, Globe Chief Finance Officer, Treasurer and Chief Risk Officer.
Maintaining an Audit and Related Party Transactions Committee (ARC) is part of Globe’s policy to ensure efficiency and credibility in its internal controls, material related party transactions and key corporate governance matters. Together with the Globe management, they oversee the integrity of the company’s financial statements and disclosures, financial reporting principles, processes, policies and systems.
They also ensure compliance with legal, regulatory, and corporate governance requirements. The ARC is composed of four non-executive directors, including three independent directors, including the Committee Chairman.
“International standards in corporate governance are deeply embedded in Globe and practiced across the board, from the Board of Directors and top management, to its employees in each and every Globe office across the country,” Eala added.
Globe follows a comprehensive Manual of Corporate Governance (MCG) and Code of Conduct which govern how it conducts business, with stringent policies against insider trading and corruption, dealing in securities, conflict of interest, environmental sustainability, health and safety, and how it deals with suppliers and vendors, among others.
Globe has consistently been cited for its good governance practices, most recently from the ASEAN Capital Markets Forum’s (ACMF) prestigious ASEAN Corporate Governance Scorecard Awards ceremony, which recognized Globe’s adherence to international best practices on corporate governance. Globe was again named among the Top 3 Philippine Publicly-Listed Companies, ASEAN Top 20 and the ASEAN Asset Class for industry-leading governance standards and practices. Globe was the only Philippine telco recognized for such awards.