This report provides an assessment of the corporate governance framework in the Philippines-its laws and regulations, supervisory and enforcement mechanisms, and the market environment, with particular attention to the securities markets. The report gives several recommendations at to how to strengthen the Philippine corporate governance. This include: the strengthening of the enforcement of the existing laws and regulations; improving the protection of minority shareholder rights through better enforcement; strengthening monitoring of compliance with IAS/IFRS and requiring additional disclosure of internal controls and governance issues by listed firms; enhancing Philippines Stock Exchange's surveillance system for monitoring of unusual trading activities; and encouraging the development of advocacy institutions to promote minority shareholders rights.
