Klarence Manguiat GOVRISK

AIS3C M4-T2
Code of Corporate Governance
From the internet, search and download a Manual or Code of Corporate Governance of
a Philippine Company.  Critique the Manual/Code you downloaded as to its compliance
to the memorandum circulars from SEC relative to Corporate Governance that you have
read.  Give at least 10 critiques.  Kindly include the link of the manual or code you
critique.  
Upon reading and reviewing the Manual on Corporate Governance of Globe
Telecom, Inc., the first thing that I have noticed is that it follows the same format of the
memorandum circulars from SEC. The only thing that was different is that Globe used
“Articles” to separate the parts of the manual. From there, it was very easy to
understand the manual seeing as to how it was made to be understood and
comprehended clearly by everyone who will be using it. Also, Globe followed the
“Principles, Recommendations, and Explanations” arrangement mandated by SEC
Memorandum Circular No. 24 (2019). Though, Globe Telecom’s definition of Corporate
Governance is a lot closer to the definition given by the Memorandum Circular No. 9,
Series 2014 compared to the definition given by the Series in 2019. Globe Telecom also
followed the mandated rule by SEC in the 2017 Memorandum Circular No. 4, where in a
company’s independent director shall serve a maximum cumulative term of 9 years. The
“Board Governance” part of Globe’s manual is patterned to what was mandated in the
2014 Memorandum Circular, wherein the responsibilities, duties, and functions of the
board was thoroughly explained. Overall, Globe Telecom Inc.’s Manual on Corporate
Governance was well-made. Upon reading, reviewing, and comparing it to the SEC
memorandum circulars, I can say that the company has complied with what was need
by them to comply with and they did it very well.