Via ODiSy March 22, 2012 PHILIPPINE STOCK EXCHANGE ... - BDO

Item 7. Financial StatementsThe consolidated financial statements and schedules are filed as part of this Form 17-A.Item 8. Changes in and Disagreements with Accountants on Accounting and FinancialDisclosure (updated)The financial statements of the Bank for the year ending 31 December 2010 and 31 December2011 have been audited by Punongbayan and Araullo, in accordance with generally acceptedaccounting principles. The Bank has not had any disagreements with any of its former or presentaccountants on any matter of accounting principles or practices, financial statement disclosure, orauditing scope or procedure which led to a change in external auditors and it not resolved to thesatisfaction of any of these accountants, would have caused the latter to make reference to thesubject matter of the disagreement in connection with its report.Part III – CONTROL AND COMPENSATION INFORMATIONItem 9. Directors and Executive Officers of the Issuer1) Directors and Executive OfficersThe Board of Directors is empowered to direct, manage and supervise, under its collectiveresponsibility, the affairs of the Bank. It is also responsible for the proper administration andmanagement of the Bank's trust business. The following is the list of the members of the Board andthe corporate officers:Teresita T. Sy, 61, Filipino, is the Chairperson of BDO and was first elected to the Board in 1997.Concurrently, she serves as the Chairperson, Vice Chairperson, and/or Director of varioussubsidiaries and affiliates of BDO such as BDO Private Bank, Inc., BDO Leasing & Finance, Inc.,BDO Capital & Investment Corporation, BDO Foundation, Inc., Generali Pilipinas HoldingCompany, Inc., Generali Pilipinas Life Assurance Company, Inc., and Generali Pilipinas InsuranceCo., Inc. Ms. Sy is the Vice Chairperson of SM Investments Corporation and adviser to the Boardof SM Prime Holdings, Inc. She also sits as Chairperson, Vice Chairperson and/or Director of suchcompanies as Multi-Realty Development Corporation, SM Commercial Properties, Inc. (formerlySM Land, Inc.), Supervalue, Inc., SM Mart, Inc., SM Retail, Inc., Super Shopping Market, Inc.,Pilipinas Makro, Inc., and First Asia Realty Development Corp. A graduate of Assumption College,she brings to the board her varied expertise in banking and finance, retail merchandising, mall andreal estate development.Corazon S. de la Paz-Bernardo, 70, Filipino, is currently the Vice Chairperson of BDO. She isalso a Director of Republic Glass Holdings, Inc., and Advisor to the Audit Committee of PLDT. Shewas President of the Social Security System and Vice Chairman of the Social Security CommissionSEC FORM 17-A 46