Based on its Financial Disclosure Checklist, the Philippine Securities and Exchange Commission (SEC) encourages listed companies to make additional statements, such as environmental reports and value-added statements when management believes they will assist users in making economic decisions. This applies in particular to industries where environmental factors are significant and where employees are considered to be an important user group. The Checklist was released by the SEC to guide companies in their compliance with required disclosure requirements under the International Accounting Standards (IASs)/Statements of Financial Accounting Standards (SFASs) in effect as of January 2004 as well as the SEC SRC Rules 68 and 68.1.
Industry sectors covered by the instrument
Organizations covered by the instrument
Large listed companies
Type of instrument
Code of conduct or guideline
Mandatory or voluntary
The geographical scope