MODULE 1: BUSINESS GOVERNANCE

Number of hours: 18 hours

Learning Outcomes
After finishing this module the student should be able to:
Define and describe the nature of business
governance and corporate governance and
understand the importance of good governance in the
development process
List and explain the roles and mandates of the different government institutions
involved in business governance in the Philippines; and
Identify problems met by the agencies and list strategies to solve or minimize the
problems.

Introduction
The course ACCTY 311 Governance, Business Ethics, Risk Management and
Internal Control is designed to prepare students to develop a high standard of
responsibility, competency and professionalism as they enter the corporate world. It
aims to prepare them to be future business leaders who will play a central part in
management and resolution of critical issues involving businesses and people. Three
modules were prepared for this course: 1) Business Governance 2) Business Ethics
and Risk Management and 3) Internal Control and Internal Audit.
For this module, the student will know more business and corporate governance as
well as the characteristics of good governance. The details of corporate governance
were not included as they were already discussed in Accounting and Law of
Partnerships and Corporations as well as in some management subjects. Emphasis
was given to the relationship of good governance to the development of the
organization. A discussion of the various agencies involved in business governance
in the country was also included.

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 A. Business Governance and Corporate Governance

Governance is essentially about ensuring that business is conducted properly. It is

less about overt control and strict adherence to rules, and more about guidance and
effective and equitable usage of resources to ensure sustainability of an
organization's strategic objectives.
Business governance is the subject of extensive legislation and research,
particularly as it pertains to the corporate entity form. Corporate governance generally
concerns the internal control of a corporation as influenced or controlled by state and
federal law, rules of ethics, and industry standards.
Corporate Governance
Corporate governance is the system of rules, practices, and processes by which a
firm is directed and controlled. Corporate governance essentially involves balancing
the interests of a company's many stakeholders, such as shareholders, senior
management executives, customers, suppliers, financiers, the government, and the
community. Since corporate governance also provides the framework for attaining a
company's objectives, it encompasses practically every sphere of management, from
action plans and internal controls to performance measurement and
corporate disclosure.
https://www.investopedia.com/terms/c/corporategovernance.asp
In governance parlance, the private/business sector serves as the engine of the
society. It is an important collaborator in the economic development of the
community. It generates jobs and incomes for the people in the community.
Because of its resources such as financial and technical expertise, it can assist the
local government in coming up with an economic plan for the community and help in
the implementation of the plan. It can also provide the needed resources for the
government to enable it to pursue big and wide scale projects that are beyond the
local government’s financial capability. Efficiency and economy are expected outputs
or products of corporate governance. The state provides a level playing field for
those able to compete, and turns its attention to the provisions of safety nets for
those unable to do so.
In the field of information technology, the private sector can help the local
government in the development of technologies that would help proper the growth
and development of the economy of the community. In this connection, the private
sector can assist the local government promote the transfer of technology such as
the application of spatial planning and decision support systems for effective local
governance.
The participation of market and civil society in governance adds new role to the state
and that is of building partnerships and linkages to the two sectors. Moreover, their
engagement of the state shifts the social picture from elite control to active
citizenship.

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Nature of Corporate Governance

The following outlines the basic principles of corporate governance, as identified by

the Organization for Economic Co-operation and Development (OECD):

 Focuses on the rights, roles, and equitable treatment of shareholders

 Disclosure and transparency and the responsibilities of the board
 Ensures:
 Sound strategic guidance of the organization
 Effective monitoring of management by the board
 Board accountability for the company and to the shareholders
 Board's responsibilities:
 Reviewing and guiding corporate strategy
 Setting and monitoring achievement of management's performance
objectives

Supporting this, the OECD considers a traditional view of governance as: "... the
system by which business corporations are directed and controlled. The corporate
governance structure specifies the distribution of rights and responsibilities among
different participants in the corporation - such as the board, managers, shareholders,
and other stakeholders - and spells out the rules and procedures for making
decisions on corporate affairs. By doing this, it also provides the structure through
which the company objectives are set, and the means of attaining those objectives
and monitoring performance" [OECD (1999)].

Characteristics of Governance

The following characteristics have been adapted from Corporate Governance 

(Naidoo, 2002) and are positioned here to highlight both the value and necessity for
governance as an approach to be adopted within organizations and their dealings
with all involved parties:
Discipline
All involved parties will have a commitment to adhere to procedures, processes,
and authority structures established by the organization.
Transparency
All actions implemented and their decision support will be available for inspection
by authorized organization and provider parties.
Transparency is built on the free flow of information. Processes, institutions and
information are directly accessible to those concerned with them, and enough
information is provided to understand and monitor them.

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 Transparency means that decisions taken and their enforcement are done in a
manner that follows rules and regulations. It also means that information is freely
available and directly accessible to those who will be affected by such decisions
and their enforcement. It also means that enough information is provided and that
it is provided in easily understandable forms and media.
Independence
All processes, decision-making, and mechanisms used will be established so as to
minimize or avoid potential conflicts of interest.
Accountability
Identifiable groups within the organization - e.g., governance boards who take
actions or make decisions - are authorized and accountable for their actions.
Accountability is imperative to make public officials answerable for government
behavior and responsive to the entity from which they derive their authority. This
maybe achieved differently in different countries or political structures, depending
on the history, cultural milieu, and value systems involved.
Accountability also means establishing criteria to measure the performance of
public officials, as well as oversight mechanisms to ensure that standards are met.
The litmus test is whether private actors in the economy have procedurally simple
and swift recourse for redress of unfair actions or incompetence of the executive
authority. Lack of accountability tends in time to reduce the state’s credibility as an
economic partner. It undermines the capacity of governments to sustain the long-
term business confidence essential for growth-enhancing private sector
investment. Looked at from this angle, accountability can help reduce sovereign
risk.
The accountability of public sector institutions is facilitated by evaluation of their
economic and financial performance. Economic accountability relates to the
effectiveness of policy formulation and implementation, and efficiency in resource
use. Financial accountability covers accounting systems for expenditure control,
and internal and external audits.
Responsibility
Each contracted party is required to act responsibly to the organization and its
stakeholders.
Fairness
All decisions taken, processes used, and their implementation will not be allowed
to create unfair advantage to any one particular party.
Equity – all men and women have opportunities to improve or maintain their well
being. Rule of Law – legal frameworks should be fair and enforced impartially,
particularly the laws on human rights.

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http://www.aprocessgroup.com/atpl/togaf9.arch_capab/guidances/concepts/nat_gov_
930D0F4.html#:~:text=Governance%20is%20essentially%20about%20ensuring,of
%20an%20organization's%20strategic%20objectives.

The Need for Good Governance

Good governance creates a strong future for an organization by continuously steering
towards a vision and making sure that day-to-day management is always lined up
with the organization’s goals. At its core, governance is about leadership.
An effective board will improve the organization’s results, both financial and social,
and make sure the owners' assets and funds are used appropriately. Poor
governance can put organizations at risk of commercial failure, financial and legal
problems for directors/trustees or allow an organization to lose sight of its purpose
and its responsibilities to its owners and people who benefit from its success.
The Rights-Based Approach to governance implies that the holders of rights should
also participate fully in deciding how those rights are fulfilled, such as through
participation and greater empowerment. And as the Millennium Declaration
emphasizes, one of the most important requirements for achieving this and the MDG
is “governance” The report points out that Asia and the Pacific has many diverse
forms of democratic governments4. In some cases these have involved highly
centralized administrations that have offered a limited space for popular participation.
Nevertheless, in recent years there have been significant changes. One of the most
dramatic examples has been in Indonesia, which for decades until the late 1990s had
a strongly centralized administration. Now the democratic Government in Indonesia
has not only offered free and fair elections; it has also enacted a radical process of
decentralization.

B. Government Institutions involved in Business Governance

1. Bangko Sentral ng Pilipinas

A group of Filipinos had conceptualized a central bank for the Philippines as early as
1933. It came up with the rudiments of a bill for the establishment of a central bank
for the country after a careful study of the economic provisions of the Hare-Hawes
Cutting bill, the Philippine independence bill approved by the US Congress.

During the Commonwealth period (1935-1941), the discussion about a Philippine

central bank that would promote price stability and economic growth continued. The
country’s monetary system then was administered by the Department of Finance and
the National Treasury. The Philippines was on the exchange standard using the US
dollar—which was backed by 100 percent gold reserve—as the standard currency.

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In 1939, as required by the Tydings-McDuffie Act, the Philippine legislature passed a
law establishing a central bank. As it was a monetary law, it required the approval of
the United States president. However, President Franklin D. Roosevelt disapproved it
due to strong opposition from vested interests. A second law was passed in 1944
during the Japanese occupation, but the arrival of the American liberalization forces
aborted its implementation.

Shortly after President Manuel Roxas assumed office in 1946, he instructed then
Finance Secretary Miguel Cuaderno, Sr. to draw up a charter for a central bank. The
establishment of a monetary authority became imperative a year later as a result of
the findings of the Joint Philippine-American Finance Commission chaired by Mr.
Cuaderno. The Commission, which studied Philippine financial, monetary and fiscal
problems in 1947, recommended a shift from the dollar exchange standard to a
managed currency system. A central bank was necessary to implement the proposed
shift to the new system.

Immediately, the Central Bank Council, which was created by President Manuel
Roxas to prepare the charter of a proposed monetary authority, produced a draft. It
was submitted to Congress in February1948. By June of the same year, the newly-
proclaimed President Elpidio Quirino, who succeeded President Roxas, affixed his
signature on Republic Act No. 265, the Central Bank Act of 1948. The establishment
of the Central Bank of the Philippines was a definite step toward national sovereignty.
Over the years, changes were introduced to make the charter more responsive to the
needs of the economy. On 29 November 1972, Presidential Decree No. 72 adopted
the recommendations of the Joint IMF-CB Banking Survey Commission which made
a study of the Philippine banking system. The Commission proposed a program
designed to ensure the system’s soundness and healthy growth. Its most important
recommendations were related to the objectives of the Central Bank, its policy-
making structures, scope of its authority and procedures for dealing with problem
financial institutions.

Subsequent changes sought to enhance the capability of the Central Bank, in the
light of a developing economy, to enforce banking laws and regulations and to
respond to emerging central banking issues. Thus, in the 1973 Constitution, the
National Assembly was mandated to establish an independent central monetary
authority. Later, PD 1801 designated the Central Bank of the Philippines as the
central monetary authority (CMA). Years later, the 1987 Constitution adopted the
provisions on the CMA from the 1973 Constitution that were aimed essentially at
establishing an independent monetary authority through increased capitalization and
greater private sector representation in the Monetary Board.

The administration that followed the transition government of President Corazon C.

Aquino saw the turning of another chapter in Philippine central banking. In
accordance with a provision in the 1987 Constitution, President Fidel V. Ramos
signed into law Republic Act No. 7653, the New Central Bank Act, on 14 June 1993.
The law provides for the establishment of an independent monetary authority to be
known as the Bangko Sentral ng Pilipinas, with the maintenance of price stability
explicitly stated as its primary objective. This objective was only implied in the old
Central Bank charter. The law also gives the Bangko Sentral fiscal and administrative

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autonomy which the old Central Bank did not have. On 3 July 1993, the New Central
Bank Act took effect.

Vision
The BSP aims to be recognized globally as the monetary authority and primary
financial system supervisor that supports a strong economy and promotes a high
quality of life for all Filipinos.
Mision
To promote and maintain price stability, a strong financial system, and a safe and
efficient payments and settlements system conducive to a sustainable and inclusive
growth of the economy.
Objectives

The BSP’s primary objective is to maintain price stability conducive to a balanced and
sustainable economic growth. The BSP also aims to promote and preserve monetary
stability and the convertibility of the national currency.

Responsibilities

The BSP provides policy directions in the areas of money, banking and credit. It
supervises operations of banks and exercises regulatory powers over non-bank
financial institutions with quasi-banking functions.

Functions of the BSP

Under the New Central Bank Act, the BSP performs the following functions, all of
which relate to its status as the Republic’s central monetary authority.

 Liquidity Management. The BSP formulates and implements monetary policy

aimed at influencing money supply consistent with its primary objective to
maintain price stability.
 Currency issue. The BSP has the exclusive power to issue the national
currency. All notes and coins issued by the BSP are fully guaranteed by the
Government and are considered legal tender for all private and public debts.
 Lender of last resort. The BSP extends discounts, loans and advances to
banking institutions for liquidity purposes.
 Financial Supervision. The BSP supervises banks and exercises regulatory
powers over non-bank institutions performing quasi-banking functions.
 Management of foreign currency reserves. The BSP seeks to maintain
sufficient international reserves to meet any foreseeable net demands for
foreign currencies in order to preserve the international stability and
convertibility of the Philippine peso.
 Determination of exchange rate policy. The BSP determines the exchange
rate policy of the Philippines. Currently, the BSP adheres to a market-oriented

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 foreign exchange rate policy such that the role of Bangko Sentral is principally
to ensure orderly conditions in the market.

Other activities. The BSP functions as the banker, financial advisor and official
depository of the Government, its political subdivisions and instrumentalities and
government-owned and -controlled corporations.

Governance of the Bank

The Monetary Board exercises the powers and functions of the BSP, such as the
conduct of monetary policy and supervision of the financial system. Its chairman is
the BSP Governor, with five full-time members from the private sector and one
member from the Cabinet.

The Governor is the chief executive officer of the BSP and is required to direct and
supervise the operations and internal administration of the BSP. A deputy governor
(or a Senior Assistant Governor in the case of the Currency Management Sector)
heads each of the BSP's operating sector as follows:

 Monetary and Economics Sector is mainly responsible for the

operations/activities related to monetary policy formulation, implementation,
and assessment
 Financial Supervision Sector is mainly responsible for the regulation of
banks and other BSP-supervised financial institutions, as well as the oversight
and supervision of financial technology and payment systems
 Currency Management Sector is mainly responsible for the forecasting,
production, distribution, and retirement of Philippine currency, as well as
security documents, commemorative medals, and medallions
 Corporate Services Sector is mainly responsible for the effective
management of corporate strategy, communications, and risks, as well as the
BSP's human, financial, technological, and physical resources to support the
BSP's core functions

Advocacies

The BSP is deeply involved in various projects and activities aimed towards
alleviating poverty, contributing to the global fight against money laundering,
increasing transparency of monetary policy and improving the financial literacy of the
public.

 The BSP has declared microfinance as its flagship program for poverty
alleviation in Year 2000 and has since then played a key role in the
development of sustainable microfinance in the country. The BSP initiatives
have focused on the policy and regulatory environment, training and capacity
building as well as on promotion and advocacy.

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  The BSP has been conducting public information campaigns in line with the
effort to increase public awareness on the role of the BSP in the economy and
the financial system and to further enhance the transparency of monetary
policy.

 The BSP has also taken a proactive stance in embarking on a consumer

education program that aims to improve the basic financial literacy of the
public.

 The BSP undertakes various bank-related initiatives to improve the remittance

environment and to channel remittances to productive undertakings. Through
these initiatives, the BSP intends to maximize the benefits of remittances
aimed at: (1) ensuring the smooth inflow of remittances, and (2) promoting
their use for development by channeling them to the financial sector so that
these funds can be mobilized for lending and other productive activities.

http://www.bsp.gov.ph/

Republic Act No. 11211 An Act Amending Republic Act Number 7653 Otherwise
Known as “ The New Central Bank Act” and for the Other Purpose

2. Philippine Stock Exchange

The Philippine Stock Exchange (PSE) is the only stock exchange in the
Philippines. It is one of the oldest stock exchanges in Asia, having been in continuous
operation since the establishment of the Manila Stock Exchange in 1927. It currently
maintains a trading floor at the PSE Tower in Bonifacio Global City, Taguig City. The
PSE is composed of a 15-man Board of Directors with Jose T. Pardo as Chairman.

The main index for PSE is the PSEi, which is composed of a fixed basket of thirty
(30) listed companies. The PSEi measures the relative changes in the free float-
adjusted market capitalization of the 30 largest and most active common stocks listed
at the PSE. The selection of companies in the PSEi is based on a specific set of
public float, liquidity and market capitalization criteria. There are also six sector-based
indices as well as a broader all shares index.

Vision
A premier exchange with world-class standards for trading securities and raising
capital that serves as a strong engine for a robust economy.
Mission

Offer products and services responsive to the needs of investors and other
stakeholders.
 Provide a facility for fair, accurate, complete and timely information about listed
companies, while extending market education and awareness programs to
investors.

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 Be a preferred venue for raising capital.
 Practice and promote good governance within the Exchange and among listed
companies and trading participants.
 Operate efficiently to optimize shareholder value.
 Adopt world-class systems and global best practices for an efficient, fair and
orderly market.
 Develop a highly motivated and professional workforce, committed to serve
and excel.

Corporate Values

 Professionalism in delivering quality service and in meeting the highest

standards of excellence.
 Integrity, transparency and accountability in implementing business programs
and enforcing decisions.
 Teamwork in working towards a common and favorable goal for the market.
 Mutual respect in relating with fellow employees.
 Inner strength in prioritizing the common good of the market instead of
individual interest.
 Corporate responsibility in promoting market growth hand in hand with
community welfare.

https://www.pse.com.ph/

3. Department of Finance

The Department of Finance (DOF) is the government’s steward of sound fiscal policy.
It formulates revenue policies that will ensure funding of critical government programs
that promote welfare among our people and accelerate economic growth and stability

The Department envisions that the effective and efficient pursuit of the critical tasks
under its wings revenue generation, resource mobilization, debt management and
financial market development shall provide the solid foundation for a Philippine
economy that is one of the most active and dynamic in the world.

The fact that the birth of the Department of Finance predated that of the Philippine
Republic is testimony to its importance. Founded on 24 April 1897 by the Philippine
Revolutionary Government, the DOF has undergone various structural and functional
overhauls, but has nonetheless remained a key department. At present, the critical
tasks of revenue generation, resource mobilization and fiscal management rest on
the shoulder of the Department of Finance.

The government must provide the citizenry with infrastructure, education, health and
other basic services; and the DOF must be ready with the funds for them. Likewise,

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the DOF must steer fiscal programs toward an investment-friendly environment,
which is the catalyst for growth.

Vision

 A strong economy with stable prices and strong growth;

 A stable fiscal situation with adequate resources for government projects,
infrastructure, education, health, and other basic services;
 A borrowing program that is able to avoid the crowding-out effect on the
private sector and minimizes costs;
 A public sector debt profile with long maturities and an optimum mix of
currencies that minimizes the impact of currency movements; and
 A strong economic growth with equity and productivity.

Mission
Our economy must be one of the most dynamic and active in the world, globally
competitive and onward looking. The DOF shall take the lead in providing a solid
foundation for the achievement of this objective by building a strong fiscal position,
through the:

 Formulation, institutionalization, and administration of sound fiscal policies;

 Improvement of tax collection efficiency and non-tax revenue efforts;
 Mobilization of adequate resources on most advantageous terms to meet
budgetary requirements;
 Sound management of public sector debt; and
 Initiation and implementation of structural and policy reforms.

Mandate

Under Executive Orders 127, 127-A and 292, the Department of Finance is
responsible for the following:
 Formulation, institutionalization and administration of fiscal policies in
coordination with other concerned subdivisions, agencies and instrumentalities
of the government;
 Generation and management of the financial resources of government;
 Supervision of revenue operations of all local government units;
 Review, approval and management of all public sector debt, domestic or
foreign; and
 Rationalization, privatization and public accountability of corporations and
assets owned, controlled or acquired by the government

Power and Functions

1. Formulate goals, action plans and strategies for the Government resource
mobilization effort;
2. Formulate, institutionalize and administer fiscal and tax policies;
3. Supervise, direct and control the collection of the government revenues;
4. Act as custodian of, and manage all financial resources of government
5. Manage public debt;

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 6. Review and coordinate policies, plans and programs of GOCCs;
7. Monitor and support the implementation of policies and measures on local
revenue administration;
8. Coordinate with other government agencies on matters concerning fiscal,
monetary, trade and other economic policies
The following agencies are attached to the DOF:
 Bureau of Customs (BOC)
 Bureau of Internal Revenue (BIR)
 Bureau of the Treasury (BTr)
 Philippine Deposit Insurance Corporation (PDIC)
 Central Board of Assessment Appeals
 Cooperative Development Authority
 Insurance Commission
 National Tax Research Center
 Privatization and Management Office
 Philippine Export-Import Credit Agency
 Securities and Exchange Commission (SEC)
 Fiscal Incentives Review Board
https://www.dof.gov.ph

4. Department of Trade and Industry

Anchored on the Values of Passion, Integrity, Creativity, Competence, Synergy, and

Love of Country, and our 

Mission as the government’s main economic catalyst in Enabling innovative,

competitive, job-generating, inclusive business, and empowering consumers. These
we do in order to achieve

Vision 2022 

“A more inclusive and prosperous Philippines with employment and income

opportunities for all.”

Mandate

The DTI is responsible for realizing the country’s goal of globally competitive and
innovative industry and services sector that contribute to inclusive growth and
employment generation.

Pursuant to the Philippine Development Plan (PDP) 2017-2022, we shall endeavor to

reduce inequality and poverty by expanding economic opportunities in industry and
services, and by increasing the access particularly of micro, small and medium

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enterprises (MSMEs), cooperatives and overseas Filipinos (OFs) to these
opportunities. To attain these sector outcomes by 2022, we need to:

1. Increase local and foreign direct investments

2. Increase competitiveness, innovativeness and resilience of industries and
services
3. Improve access to finance, to production networks, and to markets
4. Enhance productivity, efficiency, and resilience
5. Ensure consumer access to safe and quality goods and services
These we accomplish through six major programs:
Exports and Investment Development Program
Industry Development Program
SME Development Program
Consumer Protection Program
Consumer Education and Advocacy Program

We commit to effect good governance be delivering public service that is

predictable, participatory, accountable, efficient, transparent, and honest.

https://www.dti.gov.ph/

How to register your business with DTI (for sole proprietors)

Business name approval

There are certain rules that should be observed in providing a business name. it is
the owner’s responsibility to make sure that the proposed business name is NOT:

 To be used for illegal, offensive, and scandalous operations. Identical or

closely resembles other business names already registered.
 Composed purely of generic words
 Designates quality of goods and services.
 Uses abbreviation

https://ifranchise.ph/how-to-register-your-business-with-dti/

The following agencies are attached to the DTI:

 Board of Investments
 Bureau of Product Standards
 Clark Development Corporation
 Design Center Philippines
 Fair Trade Bureau
 Intellectual Property Office of the Philippines
 Philippine Economic Zone Authority (PEZA)
 Philippine Trade Training Center
 Small Business Corporation

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  Subic Bay Metropolitan Authority

officialgazette.gov.ph/section/briefing-room/department-of-trade-and-industry

5. Board of Investment

The Board of Investments (BOI) is an investment promotion agency that grants tax

incentive packages to local and foreign businesses operating in the Philippines. It
aims to help the Philippine government promote inbound investments and economic
growth by attracting investors and entrepreneurs to venture capital and set up
businesses in the country.

The BOI operates under the authority of the Department of Trade and Industry
(DTI) and is mandated through the Omnibus Investments Code (Executive Order No.
226) to provide tax exemption and other incentives to registered enterprises that
engage in activities enumerated in the Investment Priorities Plan (IPP) – which is a
list of areas of investments eligible for government incentives. 

The Philippine Board of Investments (BOI), an attached agency of Department of

Trade and Industry (DTI), is the lead government agency responsible for the
promotion of investments in the Philippines.

Taking the lead in the promotion of investments, BOI assists Filipino and foreign
investors to venture and prosper in desirable areas of economic activities. Investors
are welcome to experience the potentials of the booming Philippine Industry sectors.

Profitable business opportunities abound in the food processing, construction, metal

products, telecommunications, power and infrastructure projects among others.

https://www.formsphilippine.com/agency/3/board-of-investments-boi

Vision

I am a BOI employee, dedicated to render prompt, courteous public service.

Committed to do efficient, honest work. Striving always for professionalism in my
dealings with the public and with my co-employees and other colleagues in
government alike. Ever mindful that my conduct is a reflection on my office whose
good image it is my obligation to uphold. True to my mission to promote investments
to help the country’s economy; unwavering in my faith on the realization of vision “A
GLOBAL IPA FOR ACCELERATING INVESTMENTS, INDUSTRY GROWTH AND
SUSTAINABLE JOBS BY 2022”. Proud to be known to one and all a BOI Employee.

Mission

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We, the BOI family, are committed to generate local and foreign investments and
develop globally competitive industries, thus increasing employment through the
responsible used of the country’s resources, guided by the principles of private
initiative and government cooperation. In pursuit of these commitments, we bind
ourselves to render competent and efficient service with utmost integrity and
professionalism.

Ours is a challenging task, yet with discipline and the guidance of an enlightened and
strong leadership, we shall move forward.

https://boi.gov.ph

6. Philippine Depository & Trust Corp

Incorporated in 1995, the Philippine Depository & Trust Corp. (PDTC) was previously
known as the Philippine Central Depository Inc. (PCD).

PDTC acts as depository, registry, and/or intermediary of participants for all kinds of
securities or financial instruments and provides value-added services such as
collateral management for repurchase transactions. It is also a lending agent and
collateral manager for Securities Lending and Borrowing transactions and similar
activities.

PDTC provides safekeeping and settlement services for listed fixed income securities
in the Philippine Dealing and Exchange Corp. (PDEx). This includes government
securities and corporate debt issues. PDTC supports both broker level and investor
level settlement for all PDEx-traded transactions.

It is under the dual oversight of the Securities and Exchange Commission (SEC) and
the Bangko Sentral ng Pilipinas (BSP), considering the duality of its functions where it
performs market services for securities engaged in the market as well as fiduciary
services while securities are at rest.

Functions and responsibilities

PDTC as a depository is likewise covered under Section 4441Q.6 of the Manual of
Regulations for NonBank Financial Institutions (MORNBFI), which provides that a
securities custodian shall have the following basic functions and responsibilities:
a. Safekeeps the securities of the client;
b. Holds title to the securities in a nominee capacity;
c. Executes purchase, sale and other instructions;
d. Performs at least a monthly reconciliation to ensure that all
positions are properly recorded and accounted for;
e. Confirms tax withheld;
f. Represents clients in corporate actions in accordance with the
direction provided by the securities owner;
g. Conducts mark-to-market valuation and statement rendition;

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 h. Does earmarking of encumbrances or liens such as, but not
limited to, Deeds of Assignment and court orders; and in addition
to the above basic functions, it may perform the following value
added service to clients:
i. Acts as a collecting and paying agent: Provided, That the
management of funds that may be collected shall be clearly
defined in the custody contract or in a separate document or
agreement attached thereto: Provided, further, That the
custodian shall immediately make known to the securities owner
all payments made and collections received with respect to the
securities under custody;
j. Securities borrowing and lending operations as agent.

https://www.pds.com.ph

7. Securities and Exchange Commission

The Securities and Exchange Commission (Filipino: Komisyon sa mga Panagot at

Palitan, commonly known as SEC) is the agency of the Government of
the Philippines responsible for regulating the securities industry in the Philippines.
Mandate

The Securities and Exchange Commission (SEC) or the Commissions is the national
government regulatory agency charged with supervision over the corporate sector,
the capital market participants, and the securities and investment instruments
markets, and the protection of the investing public. Created on October 26, 1936 by
Commonwealth Act (CA) 83 also known as The Securities Act, the Commission was
tasked to regulate the sale and registration of securities, exchanges, brokers, dealers
and salesman. Subsequent laws were enacted to encourage investments and more
active public participation in the affairs of private corporations and enterprises, and to
broaden the Commission’s mandates. Recently enacted laws gave greater focus on
the Commission’s role to develop and regulated the corporate capital market toward
good corporate governance, protection of investors, widest participation of ownership
and democratization of wealth.

SEC is the registrar and overseer of the Philippine corporate sector; it supervise more
than 600,000 active corporations and evaluates the financial statements (FS) filed by
all corporations registered with it. SEC also develops and regulates the capital
market, a crucial component of the Philippine financial systems and economy. As it
carries out its mandate, SEC contributes significantly to government revenues.

With the growing number of corporations and other forms of associations that SEC
supervises and monitors and given the evolving nature of transactions where the

Page | 16
corporate vehicle is being used to defraud the investing public, as well as the ever
dynamic character of the capital market, SEC must progressively perform its critical
role as the prudent registrar and supervisor of the corporate sector and independent
guardian of the capital market.

Powers and Functions

The Commission shall have the powers and functions provided by the Securities
Regulation Code, Presidential Decree No. 902-A, as amended, the Corporation
Code, the Investment Houses law, the Financing Company Act, and other existing
laws.

Under Section 5 of the Securities Regulation Code, Rep. Act 8799, the Commission
shall have, among others, the following powers and functions:

(a) Have jurisdiction and supervision over all corporations, partnerships or

associations who are the grantees of primary franchises and/or a license or
permit issued by the Government;
(b) Formulate policies and recommendations on issues concerning the
securities market, advise Congress and other government agencies on
all aspects of the securities market and propose legislation and
amendments thereto;
(c) Approve, reject, suspend, revoke or require amendments to registration
statements, and registration and licensing applications;
(d) Regulate, investigate or supervise the activities of persons to ensure
compliance;
(e) Supervise, monitor, suspend or take over the activities of exchanges,
clearing agencies and other SROs;
(f) Impose sanctions for the violation of laws and the rules, regulations and
orders issued pursuant thereto;
(g) Prepare, approve, amend or repeal rules, regulations and orders, and
issue opinions and provide guidance on and supervise compliance with
such rules, regulations and orders;
(h) Enlist the aid and support of and/or deputize any and all enforcement
agencies of the Government, civil or military as well as any private
institution, corporation, firm, association or person in the implementation
of its powers and functions under this Code;
(i) Issue cease and desist orders to prevent fraud or injury to the investing
public;
(j) Punish for contempt of the Commission, both direct and indirect, in
accordance with the pertinent provisions of and penalties prescribed by
the Rules of Court;
(k) Compel the officers of any registered corporation or association to call
meetings of stockholders or members thereof under its supervision;
(l) Issue subpoena duces tecum and summon witnesses to appear in any
proceedings of the Commission and in appropriate cases, order the
examination, search and seizure of all documents, papers, files and

Page | 17
 records, tax returns, and books of accounts of any entity or person
under investigation as may be necessary for the proper disposition of
the cases before it, subject to the provisions of existing laws;
(m) Suspend, or revoke, after proper notice and hearing the
franchise or certificate of registration of corporations, partnerships or
associations, upo any of he grounds provided by law; and
(n) Exercise such other powers as may be provided by law as well as those
which may be implied from, or which are necessary or incidental to the
carrying out of, the express powers granted the Commission to achieve
the objectives and purposes of these laws.

Under Section 5.2 of the Securities Regulation Code, the Commission’s jurisdiction
over all cases enumerated under Section 5 of PD 902-A has been transferred to the
Courts of general jurisdiction or the appropriate Regional Trial Court. The
Commission shall retain jurisdiction over pending suspension of
payments/rehabilitation cases filed as of 30 June 2000 until finally disposed.

Considering that only Section 2.4 and 8 of PD 902-A, as amended have been
expressly repealed by the Securities Regulation Code, the Commission retains the
powers enumerated in Section 6 of said Decree, unless these are inconsistent with
any provision of the Code.

Today, SEC is tasked with “serious responsibility of enforcing all laws affecting
corporations and other forms of associations not otherwise vested in some other
government offices.” In addition to the aforementioned laws, the Commission also
implements and acts either as lead or support agency in administering and enforcing
special laws, the more significant of which are:

1. Anti-Money Laundering Act of 2001 (RA 10365), as amended

2. Lending Company Regulation Act (LCRA) of 2007 (RA 9474)
3. Financing Company Act (FCA) (RA 8556), as amended
4. Investment Company Act (RA 2629), as amended, and its IRR
5. Investment Houses Law (PD 129)
6. Retail Trade Liberalization Act of 2000 (RA 8762)
7. Foreign Investments Act of 1991 (RA 7402), as amended
8. Omnibus Investments Code of 1987 (E.O. 226, Book III)
9. Anti-Dummy Law (Commonwealth Act 108), as amended
10.Civil Code of the Philippines (RA 386, Title IX - Partnership)
11.Securitization Act of 2004 (RA 9267)
12.Real Estate Investment Trust Act of 2009 (RA 9856)
13.Personal Equity and Retirement Account Act of 2008 (RA 9505)
14.Ease of Doing Business and Efficient Government Service Delivery Act of 2018
(RA 11032)

Vision

Page | 18
By 2025, the SEC with its driven, highly-trained and customer-centric team of
professionals, equipped with innovative technology and automated registration and
data management systems, is the premier investor champion and catalyst of a
broadened and informed investor-based capital market and business sector
considered among the best in the SEA region.

Mission:

We are the gateway to doing business in the Philippines. We provide a competitive

and secure environment for easy company registration, efficient capital formation,
and broad investor participation.

Service Pledge:
We, the officials and employees of the Securities and Exchange Commission, guided
by our values of INTEGRITY, PROFESSIONALISM, ACCOUNTABILITY,
INDEPENDENCE, INITIATIVE, and TEAMWORK, pledge to:
 Serve you with a smile
 Ensure efficiency in service delivery, and
 Commit ourselves to address your complaints and satisfy you, our dear clients.

SEC Quality Policy Statement

We the Securities and Exchange Commission, the prudent registrar and supervisor of
the corporate sector, and the independent guardian of the capital market, commit to:

Serve our stakeholders with utmost integrity and professionalism with customer,
legal, regulatory, and other applicable requirements;

Excel in performing our mandate through continuing institutional capability

enhancement and effective resource management; and,

Continually improve our quality management system in pursuit of service, excellence

and commitment.

https://www.sec.gov.ph/wp-content/uploads/2020/01/2019-SEC-Citizens-Charter-
Handbook1.pdf

SEC COMPANY REGISTRATION SYSTEM

The Company Registration System (CRS) is the full automation and online pre-
processing of corporations and partnerships, licensing of foreign corporations,
amendments of the articles of incorporation and other corporate applications
requiring SEC approval. The SEC as the corporate register of domestic companies
and foreign corporations doing business in the Philippines takes pride to be in the
forefront of introducing and implementing reforms by making business registration
process simpler, faster, more efficient and more transparent.

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The CRS special features are as follows:
Online Verification of Company Name
• Online Appeal for Disallowed Proposed Name
• Online Fill-out of Articles of Incorporation (AI) and By-laws (BL);
• With Built-in Validation in the Pre-form and In-form Data Encoding;
• Online Submission thru Uploading of Documents for Internal Processing/Evaluation;
• Online Issuance of Deficiencies on Submitted/Uploaded Application;
• Online Assessment of Filing Fees;
• Online Payment of Fees.
CRS APPLICATION STATUS ONLINE INQUIRY
The Securities and Exchange Commission is announcing the availability of the
Company Registration System (CRS) Application Status Online Inquiry.
The facility will allow CRS users to verify the status of their application online at their
convenience without going to the SEC Office.
The facility is available 24/7, accessible from any device – desktop, phone or tablet,
anytime and anywhere. Simply access the CRS Application Status Online Inquiry with
URL: http://crsquery.sec.gov.ph/ and log in using the email address for CRS and
transaction number.

SEC CAPITAL MARKET PARTICIPANTS REGISTRY SYSTEM

http://cmprs.sec.gov.ph
The Securities and Exchange Commission (SEC), will be launching the Online
Capital Market Participants Registry System (CMPRS) on November 21, 2017. Aside
from the manual filing of applications, the Capital Market Participants can now lodge
their transactions using the system (CMPRS) as an option. The system is intended
for the following:
Capital Market Institutions (CMIs)
• Broker/Dealer in Securities
• Broker in Securities
• Dealer in Securities
• Brokers in Proprietary Shares
• Voice Brokers in Securities
• Investment Houses
• Investment Houses Engaged in Dealing Government Securities
• Underwriters of Securities Engaged in Dealing Government Securities
Government Securities Eligible Dealers
• Investment Company Advisers
• Mutual Fund Distributors
Capital Market Professional (CMPs)
• Associated Persons (AP)

Page | 20
• Compliance Officer (CO)
• Salesmen/Fixed Income Market Salesman (S/FIMS)
• Certified Investment Solicitors (CIS)
The CMPRS is a web-enabled system designed to:
Manage online submission of applications;
• Manage online evaluation/processing of applications of Capital Market Participants;
• Automatic generation of Certificate of Registration (CR) and Confirmation of
Payment (COP) of Annual Fees;
• Facilitate tagging/clearing of infractions as results of monitoring activities; and
• Real-time searching of registered Capital Market Participants.
The system is expected to lessen face-to-face transactions, thus, it helps reduce the
number of clients who will come personally to the CRMD Office in response to the
Commission’ initiatives of ease of doing business.
SEC EXPRESS SYSTEM
https://secxepress.ph
The SEC Express System is an alternative mode of securing copies of Corporate or
Partnership documents without having to personally come to the SEC.
The public may access the SEC Express System when requesting for both plain and
authenticated copies of the following documents on file with the SEC:
• Articles of Incorporation/Partnership (original and amended)
• By-laws (original and amended)
• General Information Sheet (GIS)
• Application for Increase/Decrease of Capital Stock
• Resolution (Minutes)
• Secretary`s Certificate
• Board Resolution
• Registration Data Sheet
• Other company-related documents
The SEC Express System covers the following options:
I. Online Application
The public may request for SEC documents through a user-friendly, web-based
interface that includes online payment and courier delivery of the requested
documents/s nationwide.
II. Call Center Facility
The public may call Hotline Number 737-8888 for requests, mode of payment and
courier delivery of the requested documents/s nationwide.
III. By Appointment
The public may schedule an appointment when to go to SEC to make their request
for document/s. The request shall then be accompanied at the appointed date and

Page | 21
time. A maximum of three (3) documents per appointment shall be accommodated.
One-time request in excess of three documents shall be referred to the Online
Application and/or Call Center Facility.

Considering that the SEC Express System is an independent third party service, the
provider will charge additional service and courier fees for Online Application and Call
Center Facility. The public may opt to personally come to the SEC By Appointment
without additional cost to them.

SEC EXPRESS NATIONWIDE SUBMISSION

http://sens.secexpress.ph
Section 141 of the Corporation Code of the Philippines requires a corporation,
lawfully doing business in the Philippines, to submit to SEC an annual report of its
operations, together with a financial statement of its assets and liabilities covering the
preceding fiscal year. The report shall be submitted within the prescribed period to
SEC. In view of the deadlines imposed on the filing of these reports, there is a surge
in the submission of annual corporate reports every year
The SEC is now introducing an innovative, integrated solution to address the
increasing volume of Annual Reports submission consisting of Audited Financial
Statements stamped received by the BIR and General nformation Sheet that will be
able to integrate seamlessly with the SEC process resulting in a more efficient,
reliable and convenient process for compliance of Annual Reportorial Requirements
of corporations without the need to proceed to the SEC personally to submit the said
documents.
In line with this, on March 18, 2016 the SEC will be soft launching a new system for
the submission of these documents to the SEC called the SEC Express Nationwide
Submission or SENS. This allows filers an additional submission option to the
SEC’s standard procedures. With this option filers can simply send their documents
to the SEC through a designated courier or courier of their choice instead of
submitting these personally at SEC office and/or Satellite Offices.
Below is the step-by-step process when using SENS when submitting documents to
the SEC:

CITIZEN'S CHARTER
SEC Services FY 2019
https://www.sec.gov.ph/wp-content/uploads/2020/01/2019CitizensCharter_List-of-
Services-in-the-SEC.120619.pdf
SEC Certificate of Compliance to ARTA

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https://www.sec.gov.ph/wp-
content/uploads/2020/01/2019CitizensCharter_Certificate-of-Compliance-to-EODB-
Law.pdf
Citizen’s Charter 2019
https://www.sec.gov.ph/wp-content/uploads/2020/01/2019-SEC-Citizens-Charter-
Handbook1.pdf
Citizen’s Charter 2018
https://www.sec.gov.ph/wp-content/uploads/2020/01/2018-CITIZENS-CHARTER-as-
of-20191125.pdf
Citizen’s Charter on SEC Express System (SES): Request for Copies of Corporate or
Partnership Documents
https://www.sec.gov.ph/wp-
content/uploads/2020/01/2018CitizensCharter_SECExpressSystemRequestforCopie
s.pdf
Citizen’s Charter on SEC Express nationwide Submission (SENS): Submission of
Annual Reportorial Requirements
https://www.sec.gov.ph/wp-
content/uploads/2020/01/2018CitizensCharter_SECExpressNationwideSubmission.p
df
Citizen’s Investment Alert
Citizen’s Manual on Fees and Charges
https://www.sec.gov.ph/wp-content/uploads/2020/01/2017MCno03-new2.pdf

http://www.sec.gov.ph

8. Bureau of Internal Revenue

Mandate

The Bureau of Internal Revenue shall be under the supervision and control of the
Department of Finance and its powers and duties shall comprehend the assessment
and collection of all national internal revenue taxes, fees, and charges, and the
enforcement of all forfeitures, penalties, and fines connected therewith, including the
execution of judgments in all cases decided in its favor by the Court of Tax Appeals
and the ordinary courts. The Bureau shall give effect to and administer the
supervisory and police powers conferred to it by this Code or other laws. (Section 2 of
the National Internal Revenue Code of 1997)

Page | 23
Mission

We collect taxes through just enforcement of tax laws for nation-building and the
upliftment of the lives of Filipinos

Vision

The Bureau of Internal Revenue is an institution of service excellence and integrity.

Guiding Principle

"Service Excellence with Integrity and Professionalism"

Core Values

God-fearing  Accountability
Innovativeness Integrity Competency
Transparency Patriotism

www.bir.gov.ph

9. Philippine Deposit Insurance Corporation

PDIC is a government instrumentality created in 1963 by Republic Act 3591, as

amended, to insure the deposits of all banks. PDIC exists to protect depositors by
providing deposit insurance coverage for the depositing public and help promote
financial stability.

PDIC is tasked to strengthen the mandatory deposit insurance coverage system to

generate, preserve, maintain faith and confidence in the country's banking system;
and protect it from illegal schemes and machinations.

Vision

By 2023, PDIC will be a leading institution in depositor protection, recognized fot its
operational excellence that is responsive to changing times.

Mission

We protect the depositing public while promoting confidence and stability in the
banking system

Core Values

Team Work
Respect for All

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Integrity
Professionalism
Love of Country
Excellence

Quality Policy

We commit to deliver world-class service to the depositing public.

To achieve this, we shall:

 Implement a quality management system aligned with international standards;

 Satisfy all applicable requirements relevant to the business;
 Provide adequate resources to maintain the quality management system;
 Promote quality culture, good governance and employee empowerment at all
levels of the organization;
 Ensure employee competence;
 Innovate and continuously improve services for the benefit of costumer and
other stakeholders; and
 Establish

10. Local Government Unit

Role of the Local Government in Development

Sec. 2. Declaration of Policy

The territorial & political subdivisions of the State shall enjoy genuine and meaningful
autonomy to enable them to attain their fullest development as self-reliant
communities & make them more effective partners in the attainment of national goals;
provide a more responsive and accountable local government structure instituted
through a system of decentralization whereby LGUs shall be given more powers,
authority, responsibilities, and resources.

LGUs Role in Development

a. National agencies and offices are required to conduct periodic consultations
with appropriate LGUs, NGOs & POs before any project or program
implemented.
b. Capabilities of LGUs, especially municipalities & barangays, shall be
enhanced thru active participation in the implementation of national
programs & projects.
c. LGUs shall with the national government the responsibility in managing &
maintaining ecological balance within their territorial jurisdiction

https://www.slideshare.net/jobitonio/philippine-local-government-system

Page | 25
Mayor’s Permit (Business Permit) Registration in the Philippines for New

Businesses
Before you can start operating your business in the Philippines, you need to secure a
Mayor’s Permit or Business Permit from the Local Government Unit (LGU) where
your company office is located. LGUs can be cities or municipalities, and the
procedures for obtaining a permit may vary depending on the local regulations and
ordinances the city or municipality seeks to implement.
Business permits are renewed every year. Renewal period is usually on the first
month of the calendar year. Penalties are imposed on businesses that fail to renew
their business permits on or before the prescribed period.

List of Requirements for Obtaining a Mayor’s Permit in the Philippines

 Application Form
 Certificate of Registration from Securities and Exchange Commission
(SEC) for Corporations/Partnerships; Department of Trade and Industry
(DTI) for Sole Proprietorships; or Cooperative Development Authority (CDA)
for Cooperatives
 Barangay Business Clearance*
 Community Tax Certificate (CTC or Cedula)
 Contract of Lease (if leased)/Transfer Certificate of Title (if owned)
 Sketch/Pictures of the business location (3 copies)
 Public Liability Insurance (for Restaurants, Cinemas, Malls, etc./exempted:
Sari-sari Stores, Carinderias)
 Locational/Zoning Clearance*
 Certificate of Occupancy (Building and Unit)*
 Building Permit and Electrical Inspection Certificate*
 Sanitary Permit*
 Fire Safety Inspection Permit*

Steps in Securing a Mayor’s Permit

The step-by-step process for procuring a Mayor’s Permit depends on the local
regulations and ordinances of the city/municipality where your business is located.
But the general process usually involves the following steps:

1. Secure the initial requirements:

 Accomplished Application Form
 SEC/DTI/CDA Certificate of Registration
 Contract of Lease or Transfer Certificate of Title
 Sketch/Picture of the business location

2. Secure permits and clearances – each permit can only be obtained when

the aforementioned requirements in step 1 are fulfilled. Each permit/clearance
Page | 26
 is usually obtained from designated offices inside the City/Municipal Hall. The
specific permits/clearances are as follows:

 Barangay Business Clearance

 Certificate of Occupancy
 Building Permit and Electrical Inspection Certificate
 Locational/Zoning Clearance

3. File your Application Form along with the other requirements to the
Bureau of Permits (BP)/Business Permit and Licensing Office (BPLO) at the
City/Municipal Hall.
4. Procure a Community Tax Certificate/Cedula from the City Treasurer’s
Office.
5. An assessor will assess your application fees and you are required to have
the assessment (Official Billing Assessment) validated by a BP/BPLO officer.
6. Submit your application requirements, along with the Official Billing
Assessment, to the designated office.
7. Pay the necessary payment fees for the permits and licenses to the
Cashier’s Office.
8. Obtain a Fire Safety Inspection Permit from the designated Fire Department
by presenting your paid application requirements.
9. Obtain a Temporary Sanitary Permit from the designated Sanitary
Department by presenting your paid application requirements. Depending on
the local health regulations or ordinances of the city/municipality, the actual
permit may only be issued after completion of mandatory company office
inspections and/or health tests for employees.
10. Submit all requirements, along with the Fire Safety Inspection Permit and
Temporary Sanitary Permit, to the designated BP/BPLO office.
11. Release of Mayor’s Permit

https://philippinesbusinessregistration.com/company-
registration/requirements/mayors-permit-registration/
https://pia.gov.ph/news/articles/1032202
http://provinceofisabela.ph/index.php/doing-business-in-isabela/business-
opportunities

C. Activities

ACTIVITY 1: Answer self-evaluation questions

1) Give your own definition of corporate governance.

2) Describe each characteristic of good governance. You may cite examples of an

entity that shows some if not all elements of good governance and explain your
answers.

Page | 27
ACTIVITY 2: Answer self-evaluation questions

1) When and how was the Bangko Sentral ng Pilipinas established?

2) What is the vision and mission of the Bangko Sentral ng Pilipinas?

3) Briefly discuss the main objective and responsibilities of the BSP.

4) Name the five functions of the BSP

5) What is the law amending Republic Act Number 7653 Otherwise Known as “ The
New Central Bank Act” and for the Other Purpose.

6) What is the vision and mission of the Philippine Stock Exchange (PSE)?

7) What is the corporate values of the PSE?

8) When and how was the Department of Finance (DOF) created?

9) What is the vision and mission of the DOF

10)Briefly discuss the responsibilities and the powers and functions of the DOF

11)What is the mission and vision 2022 of the Department of Trade and Industry
(DTI)?

12)What is the mandate of the DTI

13)What is the role and functions of the Board of Investment?

14)How does the BOI operate?

15)What is the vision and mission of BOI

16)When was Philippine Depository & Trust Corporations (PDTC) created?

17)What is functions and responsibilities of the Philippine Depository & Trust

Corporations (PDTC).

18)What is the mandate of the Securities and Exchange Commission (SEC)?

19)Give at least 5 powers and functions of the SEC

Page | 28
20)Summarize the Bureau of Internal Revenue history (from Spanish Era to Duterte
Administration)

21)What is the mandate of the BIR

22)When was the Philippine Deposit Insurance Corporation created?

23)What is the vision and mission of the PDIC

ACTIVITY 3 : QUIZ using EDMODO

ACTIVITY 4: APPLICATION -Select one agency involved in business governance.

In a table, present the Column1 Problems met by the Agency (at least 5 problems)
and Column 2 Strategies to solve or minimize the problem.

REFERENCES

Laura Edgar, et al (2006) Partnerships: Putting Good Governance Principles in

Practice. Institute on Governance (IOG)

Retrieved from https://www.investopedia.com/terms/c/corporategovernance.asp

Retrieved from http://www.aprocessgroup.com/

Retrieved from http://www.bsp.gov.ph

Retrieved from https://www.pse.com.ph

Retrieved from https://www.dof.gov.ph

Retrieved from https://www.dti.gov.ph

Retrieved from https://boi.gov.ph

Retrieved from https://www.pds.com.ph

Retrieved from https://www.sec.gov.ph

Retrieved from www.bir.gov.ph

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Retrieved from https://pia.gov.ph

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