Compliance and Corporate Governance Training for Certified Compliance Officers
The Center for Good Governance in Business Practices (CGBP) recently conducted a comprehensive training program on compliance and corporate governance for certified compliance officers. The 11-day program, held from October 10 to November 25, 2022, aimed to equip participants with the knowledge and skills necessary to navigate the complex landscape of compliance and governance in business.
Day 1-3: Introduction to Compliance and Corporate Governance
The training began with an introduction to corporate compliance, including its definition, benefits, and responsibilities. Resource speaker Atty. Danny E. Bunyi delved into the importance of fostering a culture of accountability, developing a corporate compliance program, and ensuring effective governance structures.
Day 4-5: SEC Issuances and Financial Reporting
Atty. Justina F. Callangan took over to discuss recent issuances from the Securities and Exchange Commission (SEC) on corporate governance, including guidelines for publicly-listed companies, registered issuers, and public companies. The training also covered financial reporting rules for compliance officers.
Day 6-7: Tax Compliance
Atty. Emmanuel Y. Artiza, CPA, shared insights on practical tax compliance, including business registration, income tax, value-added tax (VAT), percentage tax, withholding tax, and other taxes. Participants learned about the importance of proper bookkeeping, modes of BIR tax filings, and payment of taxes.
Day 8-10: Sustainability Reporting and Data Privacy
Resource speakers Atty. Teodoro Y. Kalaw IV and John Macasio discussed sustainability reporting management for publicly-listed companies and data privacy compliance, respectively. Participants learned about the importance of sustainability reporting, data privacy laws, and compliance requirements.
Day 11: Awarding Ceremony
The training concluded with an awarding ceremony, recognizing participants’ completion of the program.
Key Takeaways
- Compliance is a critical aspect of corporate governance, requiring effective structures and processes to ensure accountability.
- Understanding recent SEC issuances and financial reporting rules is essential for compliance officers.
- Tax compliance requires attention to detail, proper bookkeeping, and timely payment of taxes.
- Sustainability reporting and data privacy are crucial aspects of modern business practices.
Target Audience
The training was designed for:
- Certified compliance officers
- Corporate governance professionals
- Business executives seeking to enhance their knowledge and skills in compliance and corporate governance
Exemptions
Attendees from the government are exempted from the P2,000.00 limit set by COA for attending training provided by the private sector based on Department of Budget and Management Circular No. 563 dated April 22, 2016. Attending this training is not covered by Philippine Procurement Law or RA 9184, as it falls under non-procurement activities governed by applicable COA, CSC, and DBM rules.
The CGBP’s compliance and corporate governance training program has equipped participants with the knowledge and skills necessary to navigate the complex landscape of compliance and governance in business.