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

esponsible for the setting up of the internal audit department and for the appointment of theinternal auditor as well as the independent external auditor. It monitors and evaluates theadequacy and effectiveness of the Bank's internal control systems. The Board Audit Committee ischaired by Teodoro B. Montecillo. Its other members are Corazon de la Paz-Bernardo, Antonio C.Pacis, Jimmy T. Tang, Jesus A. Jacinto, Jr., Christopher A. Bell-Knight (Adviser) and Shirley M.Sangalang (Adviser).The Corporate Governance Committee assists the Board of Directors in shaping the Bank’scorporate governance policies and practices, recommending applicable guidelines and monitoringcompliance with said policies and practices. It monitors the Board of Directors’ effectiveness anddue observance of governance principles and guidelines. It also oversees the annual performanceself-evaluation of the Board of Directors, its committees, and executive management. TheCorporate Governance Committee is chaired by Teodoro B. Montecillo. Its other members areJesus A. Jacinto Jr., Jimmy T. Tang, Antonio C. Pacis, Farida Khambata and Christopher A. Bell-Knight (Adviser).b) Measures on leading practices of good-corporate governanceThe Bank is constantly examining leading practices on good corporate governance, particularly bytaking advantage of its partnership with the International Finance Corporation, the private arm ofthe World Bank, and where appropriate, adopts said practices in its Manual. On December 5,2009, the Board approved its Manual incorporating the provisions prescribed by the SEC in theRevised Code of Corporate Governance, set forth in SEC Memo. Circular No. 6, Series of 2009.c) Any Deviation from the ManualNone.d) ImprovementThe Bank has adopted the policy of reviewing its Manual on an annual basis at the Board level withthe aim of constantly improving its corporate governance.Part V – Exhibits and SchedulesItem 14. List of Branches, Reports on SEC Form 17-Ca) Directory of Branch OfficesA list of the Bank’s branch branches are provided in Item 2, on pages 8-35 of this report.SEC FORM 17-A 72