CORPORATE GOVERNANCE SCORECARD 2021

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:

1. Government
2. SMEs
3. General Public
4. Partner government agencies and other external agencies
5. 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:

1. 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.
2. 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.
3. 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.

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:

1. 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)
2. 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)

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".

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)

Due to the health restrictions caused by the pandemic, CITEM postponed the implementation of the physical components of its signature events set for FY2021 with the approval of the CITEM Board of Governors during its meeting on 07 May 2021. Moreover, the Philippines' participation in Overseas Trade Fairs (OTF) were likewise affected. Prior to the pandemic, the Philippines occupied between 80sqm to 270sqm space for the CAEXPO's National Pavilion to feature the City of Charm every year. However, the agency rationalized its participation in CAEXPO held on 10-13 September 2021, particularly in the National Pavilion, in view of the budget constraints and health and safety concerns. As a way of continued support to CAEXPO, PH maintained its presence in the National Pavilion, but was not able to feature a City of Charm in this year’s edition. Likewise, because of the travel and customs restrictions brought by the current pandemic, travel and customs guidelines were still put in place. The Secretariat only allowed participation of companies with China-based counterparts such as subsidiaries and distributors. The PH Physical participation is limited to companies with China-based counterparts, distributors or retailers.

In the Philippine participation In the 4th China International Import Expo (CIIE) held on 5-10 November 2021, CITEM once again implemented a HYBRID participation as an effect of the global pandemic situation. This year’s participation was a combination of a 108 sqm physical exhibition, which featured 40 exhibitors to promote the “Healthy and Natural” products under the banner of FoodPhilippines, and a virtual component intended to enable companies to e-meet the buyers onsite through an online B2B platform and using the WeChat platform so that buyers can communicate directly with the Philippine Exhibitors.

In response to the continued health risks brought about by the COVID-19 pandemic in FY2021, CITEM issued an Office Order dated 12 August 2021 on Health and Safety Protocols for agency-wide implementation. The health and safety of CITEM community, stakeholders, and guests are of paramount importance, thus the CITEM COVID-19 Response Team has outlined and recommended the health and safety protocols for the following: 1) Reporting Skeleton Workforce, 2) Accepting External Visitors, 3) Attending Short Meetings/Engagements Outside CITEM, and, 4) Conducting Local Travels. It was stated on page 2 of the Office Order that "As a rule, external visitors shall be limited to essential meetings, maintenance and other related activities only. Face to face meetings should only be held in the office when videoconferencing or teleconferencing is not possible or not appropriate".

Board-approved postponement of Physical component of 2021 CITEM Signature Events



CAEXPO Post Event Report, page 2



China International Import Expo Post Event Report, page 1



Office Order on Health and Safety Protocols

I

2.b

Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies? (Interaction with the communities)

CITEM provided sponsorship of Php20,000.00 to Persons with Digitabilities International Virtual Film Festival 2021 (PWDIVFF 2021) which aims to amplify the voices of the persons with disabilities, non-communicable diseases, HIV, lived mental health experience, and to the health sector in general, to present their narratives and spark conversations about the right to health.Through this project, CITEM contributed to the achievement of the UN’s Sustainable Development Goals on Good Health and Well-being and Gender Equality. Details of this and other CSR activities are available in the agency’s website.

CITEM Website: CITEM CSR Activities CY 2021
Link to the Document

I

2.c

Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies? (Environmentally-friendly value chain)

To spread awareness on sustainability, CITEM conducted the "Organizing Zero-Waste Events", a knowledge-sharing session (KSS) on how to plan, produce and launch zero-waste events which was held via Hopin and Facebook Live on 11 September 2021 (Saturday). Guest speakers Akira Sakano from Zero Waste Academy, Anna Oposa from Save Philippine Seas, Jonas Marie Dumdum from Sustainable PH, and Joni Galeste from Buhay Zero Waste shared with the audience sustainable practices for event planning, as well as discussed circular business models that MSMEs could adopt.

Likewise, on 21 October 2021, during the second day of FAME+ Market Days which was held online via Hopin, CITEM also conducted "Sense and Sustainability", a talk on how Creative Definitions, a manufacturer of handwoven textiles established a sustainable value chain from farm to textile to products, one step at a time.

Knowledge-Sharing Session on Organizing Zero-Waste Events

Sense and Sustainability Talk in FAME+ Market Days 2021

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.

CITEM Website: CITEM CSR Activities CY 2021
Link to the Document

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.pdf, p. 138

Feedback and Redress Mechanisms To promote transparency and constant improvement, CITEM encourages stakeholders to express their feedback, concerns, complaints, and suggestions, as indicated in the Citizen’s Charter at CITEM’s official website:

• Talking to the Customer Relations Officer at the CITEM Lobby
• Filling out the Feedback Form available at the CITEM Information Desk and dropping it in the Suggestion Box located at the lobby
• Contacting CITEM through phone at +(63 2) 831-2201; through fax no. 832-3965; or via e-mail at info@citem.com.ph

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:

1. Employees' Manual (pages 16-17)
2. Revised-Manual of Corporate Governance: Section 39. Training 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.

Employee-Handbook, pages 16-17

CITEM Manual of Corporate Governance, VII. Section 40. Health and Safety, p.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:

1. Wellness Programs CY 2021
2. CITEM Clinic Report
3. Health and Safety Protocols during the Period of Public Health Emergency

CITEM Wellness Programs CY 2021


CITEM Clinic Report 2021


Health and Safety Protocols 2021

I

5.c

Does the GOCC have training and development programmes for its employees?

CITEM has a list of Training Programs attended by CITEM Employees in 2021. The list includes objectives/brief description of the training programs

I

5.d

Does the GOCC publish data on training and development programms for its employees?

Data on training and development programs for CITEM employees are available in the document 'Training Programs CY 2021'. Data includes training/program title, number of participants per program, average hours per training held and sex-disaggregated data.

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 has a Whistleblowing Policy which 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 identity of the whistleblower/person concerned and the respondent, in a confidential and sensitive manner. Each issue or report will be handled or investigated promptly, consistently and appropriately. The company 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 and is also incorporated and part of the existing CITEM Employees Manual/Handbook.

Whistleblowing Policy


Employee Handbook

I

6.b

Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation?

CITEM has a Whistleblowing Policy which 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 a confidential and sensitive manner. Each issue or report will be handled or investigated promptly, consistently, and appropriately. The company 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. CITEM's Whistleblowing Policy also states that Retaliation actions against a whistleblower or any personnel for any report will be taken cognizance of by the CITEM Integrity Monitoring Committee if the report is made in good faith, and the GCG shall extend all possible assistance to the whistleblower under the law and given the circumstances."

Said policy is also incorporated and part of the existing CITEM Employees Manual/Handbook.

II

7.a

Does the GOCC's website disclose the following items: Corporate objectives

CITEM's corporate objectives are available in CITEM website as well as in page 2 of CITEM's 2021 Performance Scorecard - CITEM 2021 Charter Statement and Strategy Map.

CITEM Website - Mission and Vision

2021 Performance Scorecard Strategy Map, page 2

II

7.b

Does the GOCC's website disclose the following items: Financial performance indicators

CITEM's Financial strategic measures are available in CITEM website - page 3 of CITEM's 2021 Performance Scorecard (SM1 - CRR; SM2- Budget Utilization Rate)

II

7.c

Does the GOCC's website disclose the following items: Non-financial performance indicators

CITEM's non- financial strategic measures are available in pages 3-5 of CITEM's 2021 Performance Scorecard as follows:

1. No. of Trade Buyers attending Export Promotion Events;
2. Customer Satisfaction Survey in Digital Events
3. Establishment of a Board-Approved Medium-Term Marketing Plan
4. Increase PR Value
5. Number of SMEs Participating in Export Promotion Activities (Physical and Digital/Online)
6. Percentage Completion of ISSP
7. Improve Processes to Quality Management System, among others

II

7.d

Does the GOCC's website disclose the following items: Details of whistle-blowing policy

CITEM has a Whistleblowing Policy which 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 identity of the whistleblower/person concerned and the respondent, in a confidential and sensitive manner. Each issue or report will be handled or investigated promptly, consistently and appropriately. The company 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 CITEM website and is also incorporated and part of the existing CITEM Employees Manual/Handbook.

Whistleblowing Policy

CITEM Employees Handbook/Manual, page 9

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.

 

II

7.f

Does the GOCC's website disclose the following items: Training and/or continuing education programme attended by each director/commissioner

CITEM's Appointive Director, Ms Pauline Suaco-Juan attended the Online Training on "RA 9184 and its 2016 Revised IRR" in FY 2021. Details of the training are available in CITEM website.

II

8

Are the annual reports downloadable from the GOCC's website?

CITEM's 2021 Annual Reports and Financial Statements are downloadable from CITEM’s website: https://citem.gov.ph/corporate-governance

COA-Audited 2021 Annual Financial Report CITEM Annual Report 2021

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.

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?

COA-Audited 2021 Annual Financial Report
Date of Receipt from COA: 03 June 2022
Date Published Online: 29 June 2022

COA-Audited 2021 Annual Financial Report
Date of Receipt from COA: 03 June 2022
Date Published Online: 29 June 2022

CITEM Website: Corporate Governance

CITEM Website: Corporate Governance - Audited Annual Financial Reports

II

10.b

Is the annual report released within 90 days from release of audited financial report?

COA-Audited 2021 Annual Financial Report
Date of Receipt from COA: 03 June 2022

Annual Report 2021
Date Published online: 31 August 2022

CITEM Website


COA-Audited 2021 Annual Financial Report


Annual Report 2021

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?

The Statement of Management's responsibility for Financial Statement is located in page 21 of the COA-Audited 2021 Financial report.

III

11.a

Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?

The BOD reviewed the CITEM Vision and Mission/strategy for the FY 2021

Reference:

1. 18 December 2020 Minutes of the Meeting stated in page 5 line 235-237.

III

11.b

Does the Board of Directors monitor/oversee the implementation of the corporate strategy?

References:

1. CITEM 2021 Strategy Map
2. Sec. 14 of the Revised Manual of Corporate Governance
3. CITEM Website: Statement of the Role of the Board in Corporate Strategy

CITEM 2021 Strategy Map


Sec. 14 of the Revised Manual of Corporate Governance


CITEM Website: Statement of the Role of the Board in Corporate Strategy

III

12

Did the GOCC achieve 90% in the PES?

CITEM's 2021 Performance Scorecard is still under evaluation of GCG

N/A

III

13.a

Are the details of the code of ethics or conduct disclosed?

References:

1. Sections 1-12 of Code of Conduct and Ethical Standards of CITEM Officials and Employees

III

13.b

Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?

References:

1. Section 1 of Code of Conduct and Ethical Standards of CITEM Officials and Employees

III

13.c

Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?

CITEM discloses the process, implementation, and the monitoring of compliance as stated in the CITEM Code of Conduct and the New Employee Orientation Report. The CITEM Code of conduct is readily available in the company intranet.

References:

1. CITEM Code of Conduct
2. CITEM 2021 New Employees Orientation (NEO) Report

CITEM Code of Conduct


CITEM 2021 New Employees Orientation (NEO) Report

III

14

Does the Board appoint a Nomination Compensation / Remuneration Committee?

Governance and Nomination and Remuneration Committee Members

1. National Food Authority
   Ms. Elsa Asusncion-Lim
2. Department of Trade and Industry
   USEC. Abdulgani M. Macatoman
3. CITEM
   Ms. Paulina Suaco Juan

References:

1. CITEM Website: Corporate Governance
2. Committees in the CITEM Board, functions and appraisal
3. Board Meeting Policy, Scheduled and Actual meetings and attendance
4. Sec Cert_Board Committees Nomination (Res No. BM 2020-01-11)

CITEM Website: Corporate Governance


Committees in the CITEM Board, functions and appraisal


Board Meeting Policy, Scheduled and Actual meetings and attendance


Sec Cert_Board Committees Nomination

III

15

Did the Nomination Compensation/Remuneration Committee meet at least twice during the year?

The governance and nomination and remuneration committee have met more than the required meetings for year 2021 under the Board meeting attendance file.

References:
Board Meeting Policy, Scheduled and Actual meeting and attendance

III

16

If yes, is the report of the Nomination Compensation/Remuneration Committee publicly disclosed?

Yes. The Summary of the actions of Governance and Nomination and Remuneration Committee is publicly disclosed

References:

1. CITEM Board Committees Accomplishment Report CY2021

III

17

Does the Board appoint an Audit Committee?

The members of the Audit and Risk Management Committee are the following:

1. Bangko Sentral ng Pilipinas
   Mr. Thomas Benjamin B. Marcelo
2. Landbank of the Philippines
   Ms. Judy O. Kis-Ing (Jan- Feb 2021)
   Mr. Elcid Pangilinan (March 2021 till present)
3. CITEM
   Ms. Paulina Suaco Juan

References:

1. CITEM Website: Corporate Governance
2. Committees in the CITEM Board, functions and appraisal
3. Board Meeting Policy, Scheduled and Actual meeting and attendance
4. Sec Cert_Board Committees Nomination (Res No. BM 2020-01-11)

CITEM Website: Corporate Governance


Committees in the CITEM Board, functions and appraisal


Board Meeting Policy, Scheduled and Actual Meetings and attendance


Sec Cert_Board Committees Nomination

III

18

If yes, is the report of the Audit Committee publicly disclosed?

Yes. The Summary of the actions of Risk and Audit Management Committee is publicly disclose.

Reference:

1. CITEM Board Committee Accomplishment Report CY2021

III

19

Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?

1. Mr. Thomas Benjamin Marcelo has an educational background in economics and economic development. He has experience as a Senior Advisor to IMF, and the International Relations Department of Bangko Sentral ng Pilipinas.
2. Mr. Elcid C. Panglinan has an education background in Economics and Political Science (LSE). He was also a Hubert H. Humphrey Fellow of Public Policy, management, and finance and currently holds as Vice Presiden at the Boston University in Massachusetts.

Reference:
CITEM Board of Governors Executive Profile

III

20

Did the Audit Committee meet at least four times during the year?

The Risk and Audit Management Committee held five (5) meetings for 2021

References:

1. Board Meeting Policy, Scheduled and Actual meeting and attendance

III

21

Does the Board appoint a Risk Management Committee?

The member of the Audit and Risk Management Committee are the ff:

1. Bangko Sentral ng Pilipinas
   Mr. Thomas Benjamin B. Marcelo
2. Landbank of the Philippines
   Ms. Judy O. Kis-Ing (until Feb. 2021)
   Mr. Elcid Pangilinan (March 2021 till present)
3. CITEM
   Ms. Paulina Suaco Juan

References:

1. CITEM Website: Corporate Governance
2. Committees in the CITEM Board, functions and appraisal
3. Board Meeting Policy, Scheduled and Actual meeting and attendance
4. Sec Cert_Board Committees Nomination (Res No. BM 2020-01-11)

CITEM Website: Corporate Governance


Committees in the CITEM Board, functions and appraisal


Board Meeting Policy, Scheduled and Actual Meetings and attendancel


Sec Cert_Board Committees Nomination

III

22

If yes, is the report on Risk Management Committee publicly disclosed?

The Summary of the actions of Risk and Audit Management Committe is publicly disclose.

References:

1. CITEM Board Committee Accomplishment Report CY2021

III

23

Does at least one member of the Risk Management Committee have a background in finance and investments?

1. Mr. Thomas Benjamin Marcelo has an educational background in economics and economic development. He has experience as a Senior Advisor to IMF, and the International Relations Department of Bangko Sentral ng Pilipinas.
2. Mr. Elcid C. Panglinan has an education background in Economics and Political Science (LSE). He was also a Hubert H. Humphrey Fellow of Public Policy, management, and finance and currently holds as Vice Presiden at the Boston University in Massachusetts.

Reference:
CITEM Board of Governors Executive Profile

III

24.a

Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)

The schedule of the Board Meetings is stated at the beginning of the year in the CITEM Board of Governors Regular Board Meetings & Policy.

References:

1. Board Meeting Policy, Scheduled and Actual meeting and attendance

III

24.b

Does the Board of Directors meet at least monthly?

It is the policy of the board that meeting shall be held on a quarterly basis or 4x a year

References:

1. Section 3 of the Rules on the Conduct of CITEM Board of Governors Meeting
2. Committees in the CITEM Board, functions and appraisal

Sec. 3 of the Rules of Conduct of CITEM Board of Governors Meeting


Committees in the CITEM Board, functions and appraisal

III

24.c

Did the Board of Directors meet on at least 75% on their scheduled meetings?

The CITEM's Board of Directors met 85% (or 6 out of 7) of its scheduled meetings for FY 2021

References:
Board Meeting Policy, Scheduled and Actual Meetings and attendance

III

24.d

Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?

Please note the Complete attendance of Directors for 2021. Each of the directors/commissioners have attended at least 90% of all the meetings held last year, 2021

References:
Board Policy, Schedule, and Actual Meeting with Attendance

III

24.e

Did the Board of Directors meet separately at least once during the year without the President/CEO present?

Yes, during the first Board Meeting on 11 February 2021 pursuant to GCG Memorandum Circular 2012-07

References:
Board Policy, Schedule, and Actual Meeting with Attendance

Board Meeting Policy, Scheduled and Actual Meetings and attendance

CITEM 11 February 2021 Minutes of the Meeting without the CEO

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?

CITEM clearly disclosed that the 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:

1. Section 6 (b) of the Rules on the Conduct of CITEM Board of Governors Meeting
2. Board Policy, Schedule, and Actual Meeting with Attendance

Section 6 (b), Article IV of the Rules on the Conduct of CITEM Board of Governors Meeting, page 6


Board Meeting Policy, Scheduled and Actual Meetings and attendance

III

25.b

Is the Board Secretary trained in legal, accountancy or company secretarial practices?

The Board Secretary Atty. Anna Grace Marpuri is a lawyer
Roll of Attorneys:
MARPURI, Anna Grace I.; Roll No. 48441

References:

1. CITEM Corporate Secretary Profile

III

26.a

Does the company have a separate internal audit function?

The agency’s Internal Audit Service Unit has been working for the agency’s ISO Certification.

References:

1. CITEM Website Key Officers List
2. Office Order of Ms. Karla Grace Dinglasan
3. DBM Approved CITEM Organizational Chart

CITEM Website List of Key Officers


Office Order of Ms. Karla Grace Dinglasan


DBM Approved CITEM Organizational Chart

III

26.b

Does the appointment and removal of the internal auditor require the recommendation of the Audit Committee?

As explicitly stated on page 2 (no. 5) of the Functions of the CITEM Board Committees, the Audit and Risk Management Committee has the "Power of appointment and removal of designated internal auditor/s in the agency".

References:

1. Stated on page 2 (no. 5) of the functions of the Risk and Audit Committee

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:

1. 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?

CITEM's FY 2021 Annual Report is not yet available. The COA-Audited FY2021 Annual Financial Report/Statements which should be included in the agency's annual report is not yet transmitted to CITEM.

 

III

27.c

Does the company disclose how key risks are managed?

Yes. The GOCC disclosed all its key risks e.g: compliance review and financial management control and how they handle such risks.

References:
CITEM Risk Management

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?

CITEM's FY 2021 Annual Report is not yet available. The COA-Audited FY2021 Annual Financial Report/Statements which should be included in the agency's annual report is not yet transmitted to CITEM.

 

III

28

Do different persons assume the roles of Chairman and CEO?

Yes. Hon. Ramon M. Lopez is the chairman while the Alternate Chairman is Hon. Abdulgani M. Macatoman and the CEO for CITEM is ED Paulina Sauco-Juan. As stated in EO 989, DTI is the Chairman and the Executive Director comes from the private sector.

References:

1. CITEM Key Officers
2. Sec. 3, EO 989 of the Ministry of the Trade and Industry.
3. Board Paper_appointment as ED and appointive member to the CITEM Board with secretary Certificate

Website: CITEM Key Officers


Sec. 3, EO 989 of the Ministry of the Trade and Industry.


Board Paper on appointment as ED and appointive member to the CITEM Board with secretary's Certificate

III

29.a

Does the GOCC have orientation programs for new Directors?

CITEM, through the Corporate Secretary and the Executive Committee, conducts orientation programs especially for new Directors

References:

1. Website: Orientation for New Board Members
2. Sec 66 of the Revised Manual of Corporate Governance

Website: Orientation for New Board Members


Sec 66 of the Revised Manual of Corporate Governance

III

29.b

Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programs?

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:

1. Section 66 of Manual of Corporate Governance of CITEM
2. CITEM HRMD budgetli

Section 66 of Manual of Corporate Governance of CITEM


CITEM HMRD Budget

III

29.c

Did all Appointive Directors attend at least 1 training for the calendar year?

Yes, Ms Paulina Suaco-Juan is the only Appointive Director of CITEM. She attended a training seminar as evidenced by the link.


References:

1. CITEM 2021 Board of Governor's Training Program
2. CITEM HRMD budget

CITEM 2021 Board of Governor's Training Program

CITEM HMRD Budget

III

30.a

Is an annual performance assessment conducted of the Board of Directors?

Yes. The annual performance assessment is reported by the Corporate Secretary who is in charge in the specific area and is consequently presented to the Board.

References:

1. CITEM Board and Board Committees Appraisal System

III

30.b

Does the GOCC disclose the process followed in conducting the Board assessment?

The Board of Directors conducts an annual assessment of its performance through GCG’s Performance Evaluation for Directors (iPED) System following the criteria set under GGC Memorandum Circular 2014-03

References:

1. Website: Board Appraisal System/Annual Performance Assessment
2. Revised Manual of Corporate Governance, Sec. 26, page 9
3. CITEM Board and Board Committees Appraisal System

Website: Board Appraisal System/Annual Performance Assessment

Revised Manual of Corporate Governance, Sec. 26, page 9


CITEM Board and Board Committees Appraisal System

III

30.c

Does the GOCC disclose the criteria used in the Board assessment?

Yes. The criteria for assessing the performance of the company is based in the following 5 matrix: FInancial, Governance, Performance, Processm and Management

References:

1. CITEM Board and Board Committees Appraisal System

III

31

Is an annual performance assessment conducted of the Board of Directors Committees?

Yes, CITEM conducted an annual performance assessment of the Board Committees


References:

1. CITEM Board and Board Committees Appraisal System

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?

COA-Audited 2021 Annual Financial Report
Date of Receipt from COA: 03 June 2022
Date Published Online: 29 June 2022

COA-Audited 2021 Annual Financial Report
Date of Receipt from COA: 03 June 2022
Date Published Online: 29 June 2022

CITEM Website: Corporate Governance

CITEM Website: Corporate Governance - Audited Annual Financial Reports

Y

1 Responsibilities of the Board

Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs?

NO. All of the Board members did not exceed 5 positions in other GOCC and PLCs.

1. Undersecretary Abdulgani M. Macatoman - Head of the Office of Special Concerns of DTI
   • Undersecretary for the Trade and Promotions Group (TPG)
   • Chairperson of Export Development Council and TWG of Halal Export Board
   • Member of the Board of Directors of National Housing Authority
   • Member of Inter-Cabinet Cluster Mechanism on Normalization (ICCMN)

1. President and CEO Cecilia C. Borromeo - President and Chief Executive Officer of the Land Bank of the Philippines
   • Chairperson of Overseas Filipino Bank
   • Chairperson of Land Bank of the Philippines Leasing and Finance Corporation

1. Senior Vice President Elcid C. Pangilinan
   • Head of the LANDBANK's Strategy and Knowledge Management Group
   • Vice President in the Chevening Alumni Foundation of the Philippines, Inc.
   • Vice President of the Hubert H. Humphrey Alumni Association in the British Alumni Association

1. Administrator Atty. Judy Carol L. Dansal - Administrator Attorney of the National Food Authority
   • Vice-Chairperson of NFAA council
   • Vice-Chairperson of the Philippine Fisheries Development Authority

1. Senior Director Thomas Benjamin B. Marcelo - Senior Director of the International Operations Management, Bangko Sentral ng Pilipinas
   • Elected Board of Trustees/Board of Directors, CITEM

1. Executive Director Paulina Suaco-Juan - Executive Director of CITEM

V

2 Responsibilities of the Board

Is there non-compliance with Good Governance Conditions?

The GCG has not yet released the results of its evaluation of the GOCC's compliance with good governance conditions.