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 2022 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 received from COA last 26 June 2023 and was published on the COA website on 04 July 2023. The same documents were published on the agency’s corporate website on 24 August 2023. 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 received from COA last 26 June 2023 and was published on the COA website on 04 July 2023. The same documents were published on the agency’s corporate website on 24 August 2023.

The 2022 Annual Report was completed on 03 August 2023 following the receipt of the Audited FS. The same was submitted to the Senate Legislative Budget Research and Monitoring Office (LBRMO) and the House of Representatives on 03 August 2023 as part of the Senate Budgetary Requirements.

 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 statement.

Please refer to the Authority’s 2022 Annual Audit Report page 15.

 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 Authority’s FY 2022 Performance Scorecard last May 11 and 15, 2023. The Authority received the final result of the validation on 28 July 2023, earning a rating score of 81.66%.

On 24 August 2023, the Authority wrote a letter to the GCG requesting an extension in filing a request for reconsideration of SMs 7 and 8. However, only the SM 7 was approved. The Authority awaits the result of the said SM. Once received, the same will be posted on the website as required.

 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 received from COA last 26 June 2023 and was published on the COA website on 04 July 2023. The same documents were published on the agency’s corporate website on 24 August 2023. 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. 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 30 March 2023 to the Corporate Standards Office and the GCG (feedback email). Y

Corporate Governance Scorecard – Report A