CORPORATE GOVERNANCE SCORECARD 2022

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, the Philippines' participation in Overseas Trade Fairs (OTF) were 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 16-19 September 2022, particularly in the National Pavilion, in view of the budget constraints and health and safety concerns. In order to show continued support to CAEXPO, the participation focused on promoting the Philippines as a destination for tourism, trade and investments by looping promotional videos of TPB, BOI and CITEM programs and projects, within a reduced space of 54-sqm. Likewiise, traditionally, the Philippines occupies a total space 400-sqm for the Commodity Pavilion. However, because of the pandemic, the Philippine Commodity Pavilion physical participation was only limited to 90-sqms, and featured only companies with subsidiaries or offices in China.

In response to the continued health risks brought about by the COVID-19 pandemic in FY2022, CITEM issued an Office Order dated 04 March 2022 on Interim Guidelines on Alternative Work Arrangement (AWA) and Workplace Protocols during the Implementation of Alert Level System for agency-wide implementation. The health and safety of CITEM community, stakeholders, and guests are of paramount importance, thus CITEM COVID-19 Response Team has outlined and recommended the health and safety protocols for the following: 1) Alternative WorkArrangement, 2) Required On-site (SWF) Days, 3) Full Flexi-time schedule, 4) Health Protocols, 5) Quarantine and Isolation Protocols, among others. It was stated on page 2, (Item 6 - under Health Protocols) of the Office Order that "For Alert Level 1, external visitors must accomplish the Daily Health Declaration (DHD) form before the scheduled visitand must present vaccination cards upon entry to the CITEM premises. For unvaccinated/partially vacinated individuals, submission of DHD will suffice. For a higher alert level, a negative antigen test taken within 48 hours prior to the scheduled visit is required".

CAEXPO 2022 Post Event Report, pages 1 and 3;

Office Order No. 2022033 dated 04 March 2022

I

2.b

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

CITEM donated the amount of P10,000.00 to support the Youth Servant Leadership and Education Program (YSLEP) of Caritas Manila which aims to assist underprivileged youths in their studies. Through this project, CITEM contributed to the achievement of the UN’s Sustainable Development Goal on Quality Education. Likewise, CITEM donated Php10,000.00 to SOS Children's Villages Philippines to aid the organization in helping orphan, abandoned, and neglected Filipino children given the care they need. Through this project, CITEM contributed to the achievement of the UN’s Sustainable Development Goal on Good health and Well-being. Details of CITEM's FY2022 CSR activities are available in the agency’s website.

I

2.c

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

CITEM launched the Sustainability Solutions Exchange (SSX) on 23-25 March 2022 to present and offer sustainable manufacturing solutions, products, and services to increase productivity, efficiency and optimize their market potentials. In its pilot edition, SSX was staged as a digital event – the SSX Digital Exhibition and Conference via Hopin platform. The event highlighted the latest and relevant solutions, technologies, and products, and services, and championed local businesses that adhered to green or sustainable practices.

The maiden edition of SSX onboarded 165 companies/suppliers and featured them in the SSX Advanced Solutions and Marketplace Zones, and 138 purchasers. Together with the DTI (Department of Trade and Industry) Regional Offices (NCR-National Capital Region, Regions 4A, 5, 7, 8) and attached agencies (Design Center of the Philippines, Export Marketing Bureau); and other line agencies (DOST-ITDI- the Industrial Technology Development Institute & PTRI- Philippine Textile Research Institute), SSX succeeded by the sheer number of SMEs in the sustainability space that exhibited in SSX Digital Expo. It was also worth noting that the Design Center of the Philippines (DCP), one of SSX Expo partners, introduced its major projects on pineapple leaves and bakong. Thirty-two (32) SSX suppliers that used bakong (aquatic plant) and pinyapel (from discarded pineapple leaves) displayed their design and services during the Expo.

Further, SSX Digital Conference with the theme: “Solutions towards Green Growth”, addressed key areas to support responsible and sustainable consumption and production, from opportunities and challenges to solutions and systems in practice. This online conference brought together local and international business leaders, sustainability practitioners, and policymakers. They discussed how they have adapted to change. They also explored key programs and opportunities for Philippine MSMEs (micro, small and medium enterprises). Topics included in the Conference are as follows: 1) Keeping up with the Global Sustainability Agenda; 2) The State of Sustainability in the Philippines; 3) How the Philippines is addressing Sustainability and what it means for businesses; 4) Road to Circular Food; 5) Sustainability Trends for the future of food; 6) Zero Emissions, Zero waste, and Zero Barriers, among others. The session "How the Philippines is addressing Sustainability and what it means for businesses" has the highest peak attendee count at 551 attendees, followed by the session on "The State of Sustainability in the Philippines" with 455.

SSX Digital Exhibition and Conference had more than 1,200 attendees composed of participants, suppliers, DTI/CITEM, governemnt/diplomatic corps, NGOs, purchasers, media, event partners and eresource pesons.

Sustainability Solutions Exchange (SSX) Digital Exhibition and Conference on 23-25 March 2022

https://sustainability.ph/

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. Likewise, CITEM launched the Sustainability Solutions Exchange (SSX) on 23-25 March 2022 to present and offer sustainable manufacturing solutions, products, and services to increase productivity, efficiency and optimize their market potentials. In its pilot edition, SSX was staged as a digital event – the SSX Digital Exhibition and Conference via Hopin platform. The event highlighted the latest and relevant solutions, technologies, and products, and services, and championed local businesses that adhered to green or sustainable practices.

The maiden edition of SSX onboarded 165 companies/suppliers and featured them in the SSX Advanced Solutions and Marketplace Zones, and 138 purchasers. Together with the DTI (Department of Trade and Industry) Regional Offices (NCR-National Capital Region, Regions 4A, 5, 7, 8) and attached agencies (Design Center of the Philippines, Export Marketing Bureau); and other line agencies (DOST-ITDI- the Industrial Technology Development Institute & PTRI- Philippine Textile Research Institute), SSX succeeded by the sheer number of SMEs in the sustainability space that exhibited in SSX Digital Expo. It was also worth noting that the Design Center of the Philippines (DCP), one of SSX Expo partners, introduced its major projects on pineapple leaves and bakong. Thirty-two (32) SSX suppliers that used bakong (aquatic plant) and pinyapel (from discarded pineapple leaves) displayed their design and services during the Expo.

Further, SSX Digital Conference with the theme: “Solutions towards Green Growth”, addressed key areas to support responsible and sustainable consumption and production, from opportunities and challenges to solutions and systems in practice. This online conference brought together local and international business leaders, sustainability practitioners, and policymakers. They discussed how they have adapted to change. They also explored key programs and opportunities for Philippine MSMEs (micro, small and medium enterprises). Topics included in the Conference are as follows: 1) Keeping up with the Global Sustainability Agenda; 2) The State of Sustainability in the Philippines; 3) How the Philippines is addressing Sustainability and what it means for businesses; 4) Road to Circular Food; 5) Sustainability Trends for the future of food; 6) Zero Emissions, Zero waste, and Zero Barriers, among others. The session "How the Philippines is addressing Sustainability and what it means for businesses" has the highest peak attendee count at 551 attendees, followed by the session on "The State of Sustainability in the Philippines" with 455.

SSX Digital Exhibition and Conference had more than 1,200 attendees composed of participants, suppliers, DTI/CITEM, government/diplomatic corps, NGOs, purchasers, media, event partners and eresource pesons.

CITEM Website: CITEM CSR Activities CY 2022

Sustainability Solutions Exchange (SSX) Digital Exhibition and Conference on 23-25 March 2022

https://sustainability.ph/ ;

https://sustainability.ph/resources-news/digital-exhibition-conference-2022

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) 8831-2201; through fax no. 8832-3965; 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 2022
2. CITEM Clinic Report 2022 on CITEM Emmployees' Health 2022
3. Interim Guidelines on Alternative Work Arrangement (AWA) and Workplace Protocols during the Implementation of Alert Level System - which includes: a) health protocols,and b) Quarantine and Isolation protocols

CITEM Wellness Programs CY 2022

CITEM Clinic Report 2022

Office Order No. 2022033 dated 04 March 2022

I

5.c

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

CITEM has a list of Training Programs attended by CITEM Employees in 2022. The list includes objectives/brief description of the training programs.

I

5.d

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

Data on training and development programs for CITEM employees are available in the document 'Training Programs CY 2022'. Data includes training/program title, number of participants per program, average hours per training held and sex-disaggregated data.

CITEM Website:
Training Programs CY 2022

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 's Revised Whistleblowing Policy encourages each employee to speak up when there is an issue or concerns that affects work or accomplishments. It promotes an environment of open communication between employees and all levels of management; to ask questions and report concerns. It is the obligation of everyone to speak up or report about a known or suspected violation to protect the Agency.

Under the said policy, it shall treat all reports, including the identity of the whistleblower/person concerned and the respondent, in an utmost confidential and sensitive manner. Each issue or report will be handled or investigated promptly, consistently, and appropriately. CITEM 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.

I

6.b

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

CITEM's revised Whistleblowing Policy 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 an utmost confidential and sensitive manner.

Below procedures to protect the whistleblower Against Retaliation are icluded in the said policy:

1. Retaliation actions 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. The GCG may further extend all possible assistance to the whistleblower under the law and given the circumstances.
2. Any person covered by this Policy who retaliates, intimidates, harasses, or undertakes may adverse actions against a whistleblower or any person who, in good faith, has cooperated in the investigation of the whistleblowing report, shall be subject to disciplinary action.
3. CITEM shall not tolerate any retaliatory acts against a whistleblower who submits a whistleblowing report in good faith.
4. A whistleblower shall be protected against retaliation, intimidation, harassment, or other adverse actions for submitting a whistleblowing report in accordance with this Policy. A whistleblower who believes that he/she is the subject of any form of retaliation, intimidation, harassment, or other adverse actions as a result of his/her whistleblowing report should immediately report the same as a violation of and in accordance with this Policy.
5. Such retaliation, intimidation, harassment, or other adverse action may include:

• Discrimination or harassing in the workplace;
• Demotion;
• Reduction in salary or benefits;
• Termination of contract;
• Evident bias in performance evaluation; or
• Any act of threats that adversely affect the rights and interest of the whistleblower.

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


2022 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 2022 Performance Scorecard as follows:

1. SM1 - CRR;
2. SM2 - Budget Utilization Rate (BUR)
   • SM2a - Obligations BUR;
   • SM2b - Disbursements BUR based on Total Obligations; and
   • SM2c - Disbursements BUR based on Corporate Operating Budget (COB)

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. Percentage of Satisfied Customers in CITEM Signature Events;
2. No. of Trade Buyers attending Export Promotion Events;
3. Implementation of the Board-approved Medium-term Marketing Plan;
4. Increase PR Value;
5. Number of SMEs Participating in Export Promotion Activities;
6. Percentage of Completion of ISSP;
7. Improve Processes to Quality Management System; and
8. Improve Competency Baseline of the Organization

II

7.d

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

CITEM 's Revised Whistleblowing Policy encourages each employee to speak up when there is an issue or concerns that affects work or accomplishments. It promotes an environment of open communication between employees and all levels of management; to ask questions and report concerns. It is the obligation of everyone to speak up or report about a known or suspected violation to protect the Agency.

Under the said policy, it shall treat all reports, including the identity of the whistleblower/person concerned and the respondent, in an utmost confidential and sensitive manner. Each issue or report will be handled or investigated promptly, consistently, and appropriately. CITEM 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.

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 program attended by each director/commissioner

CITEM Executive Director Paulina Suaco-Juan did not attend a training in CY 2022

 

II

8

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

CITEM's 2022 Annual Report and Financial Statements are downloadable from CITEM's website : https://citem.gov.ph/corporate-governance

COA-Audited 2022 Annual Financial Report

CITEM Annual Report 2022

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.

II

10.a

Are the audited annual financial report/statement uploaded on the website within 60 days upon receipt from COA?

COA-Audited 2022 Annual Financial Report
Date of Receipt from COA: 25 May 2023
Date Published Online:9 June 2023

COA-Audited 2022 Annual Financial Report
Date of Receipt from COA: 25 May 2023
Date Published Online: 9 June 2023

https://citem.gov.ph/corporate-governance

https://citem.gov.ph/corporate-governance#:~:text=9%20June%202023,
25%20May%202023

II

10.b

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

COA-Audited 2022 Annual Financial Report
Date of Receipt from COA: 25 May 2023

Annual Report 2022
Date Published Online: 23 August 2023

CITEM Website
https://citem.gov.ph/corporate-governance

COA-Audited 2022 Annual Financial Report
https://citem.com.ph/transparency-seal/2023/06/09/CITEM%20AAR%202022.pdf

https://citem.gov.ph/corporate-governance#:~:text=9%20June%202023,
25%20May%20

Annual Report 2022
https://citem.com.ph/transparency-seal/2023/08/23/2022
%20ANNUAL%20REPORT%20-%20FA%20-%20082323.pdf

https://citem.gov.ph/corporate-governance#:~:text=August%2023%2C%
202023,2022

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 20 of the COA-Audited 2022 Financial report.

III

11.a

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

YES.

The BOD reviewed the CITEM Vision and Mission/strategy for the FY 2022

Reference:
Secretary Certificate

III

11.b

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

YES.

1. CITEM 2022 Strategy Map
2. Sec. 14 of the Revised Manual of Corporate Governance
3. Statement of the Role of the Board in Corporate Strategy on the Website

CITEM 2022 Strategy Map

Sec. 14 of the Revised Manual of Corporate Governance

Statement of the Role of the Board in Corporate Strategy

III

12

Did the GOCC achieve 90% in the PES?

CITEM obtained an overall score of 75.14% in the GCG-transmitted FY2022 Performance Scorecard, with letter dated 31 July 2023.

III

13.a

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

YES.

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?

YES.

References:

1. Sections 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?

YES.

References:

1. CITEM Code of Conduct
2. CITEM 2022 New Employee Orientation (NEO) Report

CITEM Code of Conduct

CITEM 2022 New Employee Orientation (NEO) Report

III

14

Does the Board appoint a Nomination Compensation / Remuneration Committee?

YES.

Governance and Nomination and Remuneration Committee Members

1. National Food Authority
   Ms. Elsa Asuncion-Lim (January 2020 - Present)
2. Department of Trade and Industry
   Asec. Rosario Gaetos (April 2022)
   Asec. Glenn Penaranda (July 2022 - Present)
3. CITEM
   Ms. Paulina Suaco Juan (January - August 01 2022)
   Dr. Edward L. Fereira (Nov 29, 2022 - present)

References:

1. Committees in the CITEM Board, functions, and appraisal
2. Sec Cert_Board Committees Nomination (Res No. BM 2020-01-11)
3. Board Policy, Actual Meetings 2022

Committees in the CITEM Board, functions, and appraisal

Sec Cert_Board Committees Nomination (Res No. BM 2020-01-11)

Board Policy, Actual Meetings 2022

III

15

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

YES.

The Compensation/Renumeration Committee Conducted 4 meeting in FY2022.

Reference:

1. Board Meeting Policy 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 Compensation/Renumeration Committee is publicly disclosed

Reference:

1. CITEM Board Committees Accomplishment Report CY2022

III

17

Does the Board appoint an Audit Committee?

YES.

Audit and Risk Management Committee Members

1. Bangko Sentral ng Pilipinas
   Mr. Thomas Benjamin B. Marcelo (April 2022)
   Ms. Bernadette Romulo-Puyat (July - Present)
2. Landbank of the Philippines
   Mr. Elcid Pangilinan
3. CITEM
   Ms. Paulina Suaco Juan (January - 01 August 2022)
   Dr. Edward L. Fereira (Nov 29. 2022 - Present)

References:

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

Committees in the CITEM Board, functions, and appraisal


Sec Cert_Board Committees Nomination (Res No. BM 2020-01-09)


Board Policy, Actual Meetings 20222

III

18

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

YES.

Held 4 meetings in FY2022. The Risk and Audit Management Committee is publicly disclosed.

Reference:

1. CITEM Board Committees Accomplishment Report CY2022

III

19

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

YES.

1. Ms. Bernadette Romulo Puyat graduated from the University of the Philippines, likewise, pursued her bachelor’s and master’s degrees in economics. From 2007 to 2018, she served as Undersecretary at the Department of Agriculture where she handled Special Concerns, Administration and Finance, Agribusiness and Marketing, and Regional Engagements.
2. Mr. Elcid C. Pangilinan, a Landbank representative has a background in Economics and Political Science (LSE). He was also a Hubert H. Humphrey Fellow of Public Policy, and pursued management and finance at the Boston University in Massachusetts.
   
   
   
   

References:
CITEM Board of Governors Executive Profile of:

1. BSP – DG PUYAT Executive Director
2. LBP – Mr. Elcid C. Pangilinan

CITEM Board of Governors Executive Profile


BSP – DG Romulo-Puyat


LBP - Mr. Elcid C. Pangilinan

III

20

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

YES.

Held 4 meetings in FY2022 of the Risk and Audit Management Committee.

Reference:

1. Board Meeting Policy and Actual meeting and attendance

III

21

Does the Board appoint a Risk Management Committee?

YES.

Conducted 4 meeting in 2022The CITEM Board appoints and designates a risk and Management Committee

References:

1. Committees in the CITEM Board, functions, and appraisal
2. Sec Cert_Board Committees Nomination (Res No. BM 2020-01-11)

Committees in the CITEM Board, functions, and appraisal


Sec Cert_Board Committees Nomination (Res No. BM 2020-01-09)


Board Policy, Actual Meetings 2022

III

22

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

YES.

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

Reference:

1. CITEM Board Committees Accomplishment Report CY2022

III

23

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

YES.

1. Ms. Bernadette Romulo Puyat graduated from the University of the Philippines, likewise, pursued her bachelor’s and master’s degrees in economics. From 2007 to 2018, she served as Undersecretary at the Department of Agriculture where she handled Special Concerns, Administration and Finance, Agribusiness and Marketing, and Regional Engagements.
2. Mr. Elcid C. Pangilinan, a Landbank representative has a background in Economics and Political Science (LSE). He was also a Hubert H. Humphrey Fellow of Public Policy, and pursued management and finance at the Boston University in Massachusetts.

CITEM Board of Governors Executive Profile


BSP – DG Romulo-Puyat


LBP - Mr. Elcid C. Pangilinan

III

24.a

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

YES.

The scheduled of the Board Meetings are stated in the CITEM Board of Governors Regular Board Meetings & Policy

References:

1. Secretary Certificate – Approved 2022 Board Meeting Calendar
2. Board Meeting Policy and Actual meeting and attendance

Sec. Cert_Approved 2022 Board Calendar Board Meeting Policy and Actual Meeting Attendance

III

24.b

Does the Board of Directors meet at least monthly?

NO.

Did not meet the requirement.

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

 

III

24.c

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

YES.

In 2022, there were 5 meetings conducted.
Since the policy is on a quarterly basis, the Board meets 125% of the meeting.

References:

1. Board Meeting Policy and Actual meeting and attendance

III

24.d

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

YES.

References:

1. Board Meeting Policy and Actual meeting and attendance

III

24.e

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

YES.

Meeting without the CEO was held on 26 April 2022

References:

1. Board Meeting Policy and Actual meeting and attendance
2. CITEM 26 April 2022 Minutes of the Meeting without the CEO

Board Meeting Policy and Actual Meeting and Attendance


CITEM 26 April 2022 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?

YES.

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 Meeting Policy and Actual meeting and 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?

YES.

The Board Secretary is a lawyer. She attended the recent seminar conducted by the ICD on Corporate Secretary as corporate Governance professionals.

References:

1. MCLE Certificate
2. ICD Certificate for Corporate Secretary

Corporate Secretary's Profile


Trainings/Webinar

III

26.a

Does the company have a separate internal audit function?

YES.

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

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?

YES.

References:

1. Stated in 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.

Reference:

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 2022 Annual Report is not yet available. The COA-Audited FY2022 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.

Reference:

1. CITEM Risk Management System

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?

2022 CITEM's FY 2022 Annual Report is not yet available. The COA-Audited FY2022 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.

DTI Secretary or its alternate is the Chairman of the Board, while the Executive Director is an appointive member of the Board.

References:

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

Key Officers


Sec 3., EO 989 Board Composition


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. Orientation for the new board member
2. Sec 66 of the Revised Manual of Corporate Governance

Orientation for the New Board Member


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?

YES.

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. HRD Budget

Manual of Corporate Governance


HRMD Final APP Non-CSE FY2022

III

29.c

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

CITEM Executive Director Paulina Suaco-Juan did not attend a training in CY2022

III

30.a

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

YES.

References:

1. Board and Board Committee Assessment for FY2022

III

30.b

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

YES.

Reference:

1. Board and Board Committee Assessment for FY202

III

30.c

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

YES.

The criteria for assessing the performance of the company are based on the following 5 matrix: Financial, Governance, Performance, Operation and Management.

Reference:

1. Board and Board Committee Assessment for FY2022

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

Reference:

1. Board and Board Committee Assessment for FY2022

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 2022 Annual Financial Report

Date of Receipt from COA: 25 May 2023
Date Published Online:9 June 2023

COA-Audited 2022 Annual Financial Report

Date of Receipt from COA: 25 May 2023
Date Published Online: 9 June 2023

https://citem.gov.ph/corporate-governance


https://citem.gov.ph/corporate-governance#:~:text=9%20June%202023,
25%20May%202023

V

1. Responsibilities of the Board

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

All members of the CITEM Board of Directors did not exceed 5 positions in other GOCCs and PLCs.

V

2. Responsibilities of the Board

Is there non-compliance with Good Governance Conditions?

None. CITEM is compliant with all Good Governance conditions.

Note: Validation of Compliance to Good Governance Conditions for FY 2022 is ongoing.

N/A