Agency costs
BOARD COMMITTEES
• The Act declared that the Filipinos “are and have the
right to be free and independent,” and that the nation
from ”this day commences to have a life of its own,
with every political tie between Filipinas and Spain
severed and annulled”.
• The event saw the National Flag of the Philippines,
designed by General Aguinaldo and made in Hongkong
by Mrs. Marcela Agoncillo, Lorenza Agoncillo and
Delfina Herboza unfurled for the first time
• This was followed by the performance of the “Marcha
Filipina Magdalo” now known as “Lupang Hinirang”,the
NationalAnthem.
• The composer, Julian Felipe. was a music teacher
from Cavite. The lyrics to the anthem were sourced a
year after from the poem of Jose Palma entitled
“Filipinas”.
PHILIPPINE FLAG
PHILIPPINE FLAG
• General Aguinaldo explained the symbolism of the
Filipino flag. Each of the three colors has an
appropriate meaning:
a. the lower red stripe represents patriotism and valor
b. the upper blue stripe signifies peace, truth and
justice
c. the white triangle stands for equality
• The three stars indicate the three geographical areas of
Luzon,Visayas and Mindanao.
• MONITORING COST = you rely on the reports of external
auditor.
• BONDING COST = annual strategic planning kay gasto na
• RESIDUAL LOSS= naay mga losses sa activities
CHAIRMAN OF THE BOARD VS
CHIEF EXECUTIVE OFFICER
1 set of board of directors in a company but if publicly listed daghan
ni sila.
A board committee is a committee set up by the board, and
consisting of selected directors, which is given responsibility
for monitoring a particular aspect of the
company’s affairs for which the board has reserved the
power of decision-making
Can board committees make decisions?
NO. They only report back to the board and make recommendations.
The number of and the type of board committee created will
depend on the company. The common committees are:
• Remuneration committee
compensation committee incharge in setting the compensation of
board of directors. involving large amounts.
• Audit committee
enphasizes the independence of the company. Internal audit must
report here not in CEO OR CFO. incharge of appointing external
auditors , or recommend kinsa ilang kuhaon. example " SGV, KPMG
• Nominations committee
They will elect their next Board of directors.
• Risk management committee
• The Act declared that the Filipinos “are and have the
right to be free and independent,” and that the nation
from ”this day commences to have a life of its own,
with every political tie between Filipinas and Spain
severed and annulled”.
• The event saw the National Flag of the Philippines,
designed by General Aguinaldo and made in Hongkong
by Mrs. Marcela Agoncillo, Lorenza Agoncillo and
Delfina Herboza unfurled for the first time
• This was followed by the performance of the “Marcha
Filipina Magdalo” now known as “Lupang Hinirang”,the
NationalAnthem.
• The composer, Julian Felipe. was a music teacher
from Cavite. The lyrics to the anthem were sourced a
year after from the poem of Jose Palma entitled
“Filipinas”.
PHILIPPINE FLAG
PHILIPPINE FLAG
• General Aguinaldo explained the symbolism of the
Filipino flag. Each of the three colors has an
appropriate meaning:
a. the lower red stripe represents patriotism and valor
b. the upper blue stripe signifies peace, truth and
justice
c. the white triangle stands for equality

• The three stars indicate the three geographical areas of

Luzon,Visayas and Mindanao.