The recommendation is to exhaust all efforts to contact the giver and return the gift, explaining politely to the giver why the same was refused and returned. In case returning the item is unduly burdensome for the individual employee, s/he must surrender the item to the CGO which shall attempt to return the same. Should
These are the things of value (such as cash or other cash equivalent, gift certificate, corporate gifts, token, or promotional items) whether perishable or non-perishable, favors and benefits (such as corporate discounts), given directly or indirectly to any Director, Officer, Employee, or Consultant of the company by a Third Party with whom the company does
The CG policies are complementary to HRAD’s Code of Commitment, however, there are certain policies that are exclusive to CG such as the whistleblowing, conflict of interest, gifts, and other policies, including the applicable penalties thereof.
What is the role of the corporate governance office (CGO) with respect to the Code’s implementation?
The CGO is responsible for applying the Code to specific situations, providing guidance on issues arising from the Code’s implementation, and taking actions on Code matters such as reports of violations. All personnel are encouraged to contact the CGO over matters relating to the Code and its implementation.
Reporting a violation is not being disloyal to the company. It is working for the best interest of the company, as it upholds the values of integrity, fairness, transparency, and accountability. The Code specifically requires the disclosure to the corporate governance office (CGO) of any awareness or knowledge of an existing or potential violation of
Disciplinary actions against violators include administrative penalties such as suspension, and dismissal, and/or, when warranted, filing of appropriate criminal and civil actions.
The policies shall be applied to, observed and implemented by all members of the Boards of Directors, Officers, Employees, and Consultants of the company and its subsidiaries, as well as third party business partners.
What is the difference between the “Manual on Corporate Governance” and the “Code of Business Conduct and Ethics”?
The Manual on Corporate Governance enumerates the offices and persons responsible in ensuring adherence to sound corporate governance principles, best practices, and compliance commitments and their related requirements. The Code of Business Conduct and Ethics states the company’s business principles and values, upholding of which would guide and govern all business relationships of the company,
The corporate governance principles / core values state that as a company and as individuals we must observe: FAIRNESS – We are just. We honor what is due and equitable. INTEGRITY – We follow the law and are honest and ethical. We do the right thing even when no one is looking. TRANSPARENCY – We
The Code establishes the norms of behavior to which all company personnel commit in order to conduct business according to the highest standards of ethics. The Code also enumerates and describes the principles and values which shall guide and govern all decisions and actions of the company’s directors, officers, and employees when performing their respective