Adoption of the Philippine Standards on Auditing

January 15, 2004—The Securities and Exchange Commission approved the adoption in its rules and regulations a Philippine Standards on Auditing. These new standards will become effective for audits of financial statements after December 2003. More


SEC Memorandum Circular No. 2 Series of 2002
Code of Corporate Governance

In accordance with the State's policy to actively promote corporate governance reforms aimed to raise investor confidence, develop capital market and help achieve high sustained growth for the corporate sector and the economy, the Commission, in its Resolution No.135, Series of 2002 dated April 04 2002, approved the promulgation and implementation of this Code, which shall be applicable to corporations whose securities are registered or listed, corporations which are grantees of permits/licenses and secondary franchise from the Commission and public companies. This Code also applies to branches or subsidiaries of foreign corporations operating in the Philippines whose securities are registered or listed. More