CORPORATE GOVERNANCE SCORECARD REPORT – B

Name of GOCC: PHILIPPINE RETIREMENT AUTHORITY

Sector: TRADE, AREA DEVELOPMENT AND TOURISM SECTOR

Date Submitted: 15 SEPTEMBER 2022

Year being assessed: CY 2021

COMPONENT GOCC SUBMISSION

II. Disclosure and Transparency

ITEM QUESTION COMPLIANCE ANS REFERENCE LINK/SUPPORTING DOCUMENTS
8 Are the annual reports downloadable from the GOCC’s website? The Annual Audit Reports/Audited Financial Statements of the PRetA for the FY 2021 are downloadable from its corporate website. Y Transparency Seal:
II. PRA Annual Financial Reports
III. PRA Annual Reports

Corporate Governance:
III. On Financial and Operational Matters
A. PRA Annual Financial Reports
B. PRA Annual Audited Financial Statements
C. PRA Annual Reports
10.a Are the audited annual financial report/statement uploaded on the website within 60 days upon receipt from COA? The annual audited report/financial reports was released from COA on June 29, 2022 and was published on June 29, 2022. Y https://www.coa.gov.ph/reports/annual-audit-reports/aar-government-owned-and-or-controlled-corporations/#199-5394-philippine-retirement-authority-1656486629
10.b Is the annual report released within 90 days from release of audited financial report?
The annual audited report/financial reports was released from COA on June 29, 2022 and was published on June 29, 2022. 
 
The annual report was submitted to the Department of Tourism (DOT) via email on 18 July 2022. The same was posted on the Authority’s corporate website on 26 July 2022.
 Y

Transparency Seal:
II. PRA Annual Financial Reports
III. PRA Annual Reports

Corporate Governance:
III. On Financial and Operational Matters
A. PRA Annual Financial Reports
B. PRA Annual Audited Financial Statements
C. PRA Annual Reports

https://www.coa.gov.ph/reports/annual-audit-reports/aar-government-owned-and-or-controlled-corporations/#199-5394-philippine-retirement-authority-1656486629
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 PRetA’s management, through the CEO/General Manager and head of its Financial Management Division, affirm the truth and fairness of the PRetA’s financial statements in the Management Responsibility Section of the audited financial statements. Y Transparency Seal:
II. PRA Annual Financial Reports
III. PRA Annual Reports


Corporate Governance:
III. On Financial and Operational Matters
A. PRA Annual Financial Reports
B. PRA Annual Audited Financial Statements
C. PRA Annual Reports

III. Responsibilities of the Board

ITEM QUESTION COMPLIANCE ANS REFERENCE LINK/SUPPORTING DOCUMENTS
12 Did the GOCC achieve 90% in the PES?
The GCG conducted an on-site validation of the 2021 Peformance Scorecard on July 19, 2022.  As a result, the PRetA submitted required additional documents through a series of emails and submissions were completed on August 19, 2022.
 
The agency is still awaiting official validation results from GCG to date.
 N Transparency Seal:
V-B. GCG-Validated Performance Scorecards

Corporate Governance:
IV-C. PRA Performance Scorecards

IV. Bonus

ITEM QUESTION COMPLIANCE ANS REFERENCE LINK/SUPPORTING DOCUMENTS
1. Stakeholder Relationship Does the GOCC practice Global Reporting Index (GRI) on its annual reports? The PRetA does not adopt integrated reporting based on the GRI framework for its disclosures yet. N  
2. Timely release of annual financial report Is the audited annual financial report/statement released within 30 days upon receipt from COA? The annual audited report/financial reports was released from COA on June 29, 2022 and was published on June 29, 2022. Y https://www.coa.gov.ph/reports/annual-audit-reports/aar-government-owned-and-or-controlled-corporations/#199-5394-philippine-retirement-authority-1656486629

V. Penalty

ITEM QUESTION COMPLIANCE ANS REFERENCE LINK/SUPPORTING DOCUMENTS
1. Responsibilities of the Board Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs?
None of the Trustees of the PRA Board sits in more than five positions in any other GOCCs listed. 
 
Also, there are no Appointive Directors sitting in the PRA Board.
 N  
2. Responsibilities of the Board Is there non-compliance with Good Governance Conditions? The PRetA emailed its accomplished CGSR-A with supporting documents and notarized certification from PRetA’s Corporate Secretary on April 1, 2022, to the Corporate Standards Office and the GCG (feedback email). Y

Corporate Governance Scorecard – Report A

 

CY 2021 CGSR-A and Supporting Documents