PHINMA INTEGRITY ASSURANCE PROGRAM
The PHINMA Group firmly believes that its commitment to ethical business practices, good corporate governance and social responsibility is vital and integral to the pursuit of its Mission: to help build our Nation through competitive and well-managed business enterprises that enable Filipinos to attain a better quality of life. In its steadfast adherence to the Core Value of Integrity, PHINMA became one of the first to sign the Integrity Pledge and, in turn, launched its own comprehensive, Group-wide implementation through the Integrity Assurance Program.
The Integrity Assurance Program (IAP) embodies PHINMA’s unwavering commitment and reinforces its steadfast resolve to mutually serve the aspirations of shareholders and the needs of society. This Program also sets forth to guide and govern the entire PHINMA Group, its subsidiaries and controlled affiliates, together with its employees, officers and directors, in making decisions and taking actions that align with the PHINMA Core Values.
To achieve this, the IAP laid out 3 key components. The first component, PEOPLE, refers to the governance structure that sets up the position of an independent officer, the Integrity Officer, who reports directly to the Board through the Audit Committee. The second component, POLICIES, enumerates the standard set of guidelines to be implemented across the entire PHINMA Group on critical areas such as Conflict of Interest, Insider Trading and Whistleblowing . The third component, PROGRAMS, enhances the effectiveness of IAP through similar company-based initiatives including the Values Integration Program for our employees and the Vendor Integrity Program for our business partners.
To further assure its effective implementation, the IAP is subject to a periodic internal review by another independent team, the PHINMA Group Internal Audit. Likewise, the PHINMA Group intends to subject itself to a third-party review of its IAP implementation, in keeping with its participation to the Integrity Pledge. Through this, the PHINMA Group assures all its stakeholders that its commitment to Integrity is stronger than ever and this gives our employees, officers and directors the confidence to move forward with our Mission to enable Filipinos to live a better life.