Good day everyone, is a second year student pursuing a bachelor of science in

accountancy. For today’s video I will answer the two prompt questions regarding
the accountant’s role in corporate governance for our English Immersive
Environment and subject Governance, Business ethics, Risk management and
Internal Control.

PROMPT QUESTIONS:

1. What do you think is the role of accountants and/or auditors in the exercise
of good corporate governance? Particularly, how will accountants and/or
auditors help in bridging the gap between the corporation and its
stakeholders in terms of improving accountability and transparency?
Answer:
In the framework of corporate governance, The role of accountants and/or
auditors in the exercise of good corporate governance is an accountant attest to
the accuracy of management's accountability report whereas an auditor ensures
that the report he/she affirms to depict is devoid of bias, since this will benefit not
just investors but all stakeholders. There are two critical factors that must be
maintained in order to promote an improving corporate and stakeholders
accountability and transparency. Accountability and performance are the two
critical factors which can help in bridging the gap between the corporation and its
stakeholders because having these two factors make good corporate
governance boosts shareholder confidence. practices of governance. As a result,
good corporate governance adds value to shareholders and protects the
company's reputation in a competitive business environment.
2. What is the significance of establishing a Code of Corporate Governance
for Publicly-Listed Companies (PLCs)? How will the CG Code for PLCs
affect the general public's trust and confidence in these corporations?
Answer:
The Code of Corporate Governance for Publicly-Listed Companies was released
last November 22, 2016 during the 3rd Annual SECPSE Corporate Governance
Forum and its goal is to bring Philippine firms' corporate governance standards
up to line with their regional and global competitors.The significance of
establishing a Code of Corporate Governance for Publicly-Listed Companies
(PLCs) is to assure that processes and systems are in place to bring benefits in
areas like monitoring, compliance with legislation, regulations, and internal
policies, operational efficiency and effectiveness, and asset protection. The CG
Code for PLCs affect the general public's trust and confidence in these
corporations by establishing high integrity standards for safeguarding the
interests of shareholders, creditors, suppliers, and employees in order to
enhance the company's high success and create long-term value for its owners,
stakeholders, and the nation.