To enable the Directors to properly fulfill their duties and responsibilities, Management shall provide the Directors with material and timely information on the matters to be taken up in their meetings.
Information may include the background or explanation on matters brought before the Board, budgets, forecasts, and internal financial documents.
The Board, after consultations with the Audit and Risk Oversight Committee, shall recommend to the Shareholders an External Auditor duly accredited by the SEC which shall undertake an independent audit of the Company, and shall provide an objective assurance on the matters by which the financial statements shall be prepared and presented to the Shareholders. The External Auditor shall not, at the same time, provide Internal Audit services to the Company. Non-audit work may be given to the External Auditor, provided that such work does not conflict with its duties as an independent External Auditor, or does not pose a threat to its independence.
