Corporate Governance

I. Stakeholder Relationships (15%)
1.	Does the GOCC disclose a policy that:
	a.	Stipulates the existence and scope of its effort to address customer's welfare?	NEA Manual of Corporate Governance, Section 37- Customers; Section 39-Health and Safety, Section 40-Environment Manual of Corporate Governance, Section 37. Customers, Section 39. Health Safety, Section 40. Environment page 22 Policy on Non-Smoking NEA Quality Policy
	b.	Elaborates its efforts to interact with the communities in which they operate?	NEA Manual of Corporate Governance, Section 34-CSR Statement EC Member-Consumer-Owners Program for Empowerment (MCOPE) Manual of Corporate Governance Section 34 pages 19-20 Memorandum No. 2015-037 Enhanced Role of the Multi-Sectoral Electrification Advisory Council (MSEAC)
	c.	Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development ?	NEA Manual of Corporate Governance, Section 40-Environment Memo No. 2019-024-2^nd National Line Clearing Day (May 3, 2019) Memo No. 2019-028- 2019 Nationwide NEA—EC Tree Planting/Nurturing Activity Manual of Corporate Governance Section 40 Environment friendly Policy on Environmental Management Program NEA Memo to ECs No 2018-060 - Compliance of ECs with the Department of Environment and Natural Resources' DAO 2004-001 and DAO 2013-22 (2) Office Order No 2018-052 - Designated Official Representatives to the Project Steering Committee and Technical Working Group for the Global Environ Technical Advisory No_1 s2016
2.	Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies?
	a.	Customer health and safety	EnerNEA Vol. XVI, No. 1, p. 3 (Measures to attain safe and energy-efficient building adopted) EnerNEA Vol. XVI, No. 2, p. 5 (Activities for the Golden Anniversary geared towards unity) EnerNEA Vol. XVI, No. 2, p. 5 (NEA promotes health and wellness) EnerNEA Vol. XVI, No. 3, p. 3 (NEA is a drug-free government agency) Media release on NEA to ECs: Prepare for contingency measures for typoon (Nov.29, 2019) EnerNEA_3rdQ2019-pages Office Order No 2019-017 - Safety and Conservation Committee Office Order No 2019-019 - Training Course on Basic Occupational Safety and Health (BOSH) Office Order No 2019-088 - Training Course on Construction Occupational Safety and Health (COSH) Office Order No 2019-110 - Training Course on Basic Occupational Safety and Health (BOSH) Office Order No 2019-131 - Training Course on Basic Occupational Safety and Health (BOSH) for Regions I - III CAR ECs Office Order No 2019-162 - Training Course on Basic Occupational Safety and Health (BOSH) for Regions IV and V ECs Office Order No 2019-180 - Training Course on Basic Occupational Safety and Health (BOSH) for Regions VIII X XI and XII ECs
	b.	Interaction with the communities	EnerNEA Vol. XVI, No. 2, p.3 (Power Task Force organized for May 13 Elections) Media Release on Power Restoration in calamity-stricken areas (Jan 4, 2019) Media release on Task Force Kapatid boosts Omeco power reliability (Oct 15, 2019) Media release on Power distribution services in quake-hit Mindanao back to normal (Oct 17, 2019) Media release on NEA stands by Bicol electric cooperatives amid private firm takeover concerns (Nov 1, 2019) Media release on NEA, Power Coops begin restoration works in typhoon-hit provinces (Dec 27, 2019) Enernea_1stQ2019-4 Sitio Energization Projects underway in Sarangani and South Cotabato EnerNEA_4thQ2019-5 NEA-EC Joint Thanksgiving and Christmas celebration EnerNEA_4thQ2019-7 Launching of "Builde me a Home Program" for Cotabato quake survivors Memo to ECs 2019-0013 The May 13, 2019 National and Local Elections Memo to ECs 2019-018d "Run for Light", Solidarity run for a cause Memo to ECs 2019-020 Nationwide EC-MCOs Simultaneous Solidarity Run Memo to ECs 2019-024 2nd National Line Clearing Day Memo to ECs 2019-034 RSEC-WR Implementation: Impact on ECs' Operating Revenues for Residential Customers Memo to ECs 2019-044 EC Member-Consumer-Owners Program for Empowerment (MCOPE) Memo to ECs 2019-047 All ECs are encouraged to respond to RA 11293, "Philippine Innovation Act". Advisory to All ECs - DepEd_s School Electrification Program Advisory to All ECs - 2020 Census of Population and Housing
	c.	Environmentally-friendly value chain	EnerNEA Vol. XVI, No. 2, p.8 (NEA extends power to remote communities using micro grids) Media release on NEA, ECs to hold line clearing, tree planting activities (Au 28, 2019) Enernea_1stQ2019-3 Adoption of measures to attain a safe and energy-efficient building Enernea_1stQ2019-6 Launching of wind turbines and electric scooters in Romblon Island Enernea_1stQ2019-8 NEA to install solar hydropanels in Cobrador Island Memo to ECs 2019-028 2019 Nationwide NEA-EC Tree Planting/Nurturing Activity Memo to ECs 2019-036 Promotional collaterals for 2019 Nationwide NEA-EC Tree Planting/Nurturing and Line Clearing activities
3.	Does the GOCC have a separate corporate social responsibility (CSR) report/section or sustainability report/section?		Yes, NEA Website, Homepage, CSR NEA website has separate CSR Section Build Me a Home Program For Cotabato Quake Survivors CSR Activities Nationwide Tree Planting Run for Light - Solidarity Run For A Cause Solidarity Run For A Cause
4.	Where stakeholder interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights.		NEA Website, Homepage, Contact Us 2019 Annual Report,, p. 52 (back cover) NEA FB page Transparency Seal - Citizen's Charter-Feedback and Redress Mechanism
		Does the GOCC provide contact details via the company's website or Annual Report which stakeholders (e.g. customers, suppliers, general public, etc.) can use to voice their concerns and/or complaints for possible violation of their rights?
5.	Performance enhancing mechanisms for employee participation should be permitted to develop.
	a.	Does the GOCC explicitly mention the health, safety and welfare policy for its employees?	NEA Health, Wellness, Welfare and Safety Program PDF Manual of Corporate Governance Section 39. Health and Safety page 22 Best Practices in Environmental Management Program
	b.	Does the GOCC publish data relating to health, safety and welfare of its employees?	Best Practices in Environmental Management Program EnerNEA_3rdQ2019-page-003 (Nea is a drug-free government agency) EnerNEA_2ndQ2019-page-005 (NEA Promotes Health and Wellness)
	c.	Does the GOCC have training and development programmes for its employees?	Yes. NEA Website, Homepage, NEA-EC Training corner 2019 Comprehensive Training Plan (NEA-EC Training Institute) Guidelines in the Implementation of EQUAL OPPORTUNITY PRINCIPLE (EOP) in Human Resource Management (HRM) Systems
	d.	Does the GOCC publish data on training and development programs for its employees?	2019 NEA Annual Report, p. 33 EnerNEA Vol. XVI, No. 1, p. 3 (NEA intensifies capacity building programs for NEA and EC officials and employees) EnerNEA, Vol. XVI, No. 3, p. 3 (NEA holds continuing competency and development programs EnerNEA, Vol. XVI, No. 4, p. 3 (NEA BOA members and NEA officials undergo Advanced Corporate Governance Training) 2019 Comprehensive Training Plan (NEA-EC Training Institute) Enernea_1stQ2019-3 EnerNEA_3rdQ2019-page3
6.	Stakeholders including individual employee and their representative bodies, should be able to freely communicate their concerns about illegal or unethical practices to the board and their rights should not be compromised for doing this.
	a.	Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior?	GCG Requirement - Whistle Blowing Program and Complaint Policy GCG Requirement - Whistle Blowing Program (Approved Guidelines) Hotline 8888 Complaint Facility
	b.	Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation?	Transparency Seal - Whistleblowing Program and Complaint Policy (Approved Guidelines) page 5 on Protected Activities

II. Disclosure and Transparency (35%)
7.	Quality of Annual Report Does the GOCC's annual report disclose the following items:
	a.	Corporate objectives	2019 Annual Report page 7
	b.	Financial performance indicators	2019 Annual Report pages 18-21
	c.	Non-financial performance indicators	2019 Annual Report pages 22-41
	d.	Details of whistle-blowing policy	2019 Annual Report pages 10-11
	e.	Biographical details (at least age, qualifications, date of first appointment, relevant experience, and any other directorships of listed companies) of directors/commissioners	2019 Annual Report pages 12-13
	f.	Training and/or continuing education programme attended by each director/commissioner	2019 Annual Report pages 12-13
8.	Are the Annual Reports downloadable from the GOCC's website?		YES. NEA Website, Homepage, Publications, Annual Reports
9.	Corporate Governance Confirmation Statement
		Does the Annual Report contain a statement confirming the company's full compliance with the code of corporate governance and where there is non-compliance, identify and explain reasons for each such issue?	Yes. 2019 Annual Report page 9
10.	Timely filing/release of annual/financial reports
	a.	Are the audited annual financial report/statement released within 60 days upon receipt from COA?	Transparency Seal - 2019 Audited Financial Statements - Date Rec'd by the NEA August 26, 2020; Date uploaded September 9, 2020 (14 Days)
	b.	Is the annual report released within 90 days from release of audited financial report?	• Yes. NEA Transparency Seal Date received from COA – August 26, 2020 Date uploaded:October 15, 2020
	c.	Is the true and fairness/fair representation of the annual financial statement/reports affirmed by the board of directors/commissioners and/or the relevant officers of the company?	2019 Annual Report page 9

III. Responsibilities of the Board (50%)
11.	Corporate Vision/Mission
	a.	Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?	2019 Annual Report page 8 YES. BOA Resolutions No. 153
	b.	Does the Board of Directors monitor/oversee the implementation of the corporate strategy?	2019 Annual Report page 8 YES. BOA Resolutions No. 21 Manual of Corporate Governance Section 8.c - page 5 Policy on Board Governance page 2, Items 1 and 2
12.	Did the GOCC achieve 90% in the PES?		YES. Corporate Governance/GCG requirements/Performance Scorecard - Performance Evaluation System - Report 2019
13.	Code of ethics or conduct
	a.	Are the details of the code of ethics or conduct disclosed?	Manual of Corporate Governance, Section 23. Charter of Expectations, Duties and Obligations of NEA Board Members and Officers About us - Code of Ethics
	b.	Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?	Manual of Corporate Governance, Section 23. Charter of Expectations, Duties and Obligations of NEA Board Members and Officers About us - Code of Ethics
	c.	Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?	Certificate of Compliance for Anti-Red Tape Act of 2017 Transparency Seal - Certificate of Compliance for SALN Submission/Filing Additional Guidelines on the Submission of Statements of Assets, Liabilities and Networth (SALNs) and Disclosure of Business Interests Observance and Compliance to M.C. No. 3 s 2016 Issued by the Office of the President and CSC Resolution No. 1701077 ADVISORIES: Office Order No 2019-202 - Committee on Ease of Doing Business and Efficient Government Service Delivery Twelve (12) things to know about R A 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 Status of Tracked Documents for CY 2019 SALN Advisory
14.	Does the Board appoint a Nomination and Compensation/ Remuneration Committee?		Yes. Composition of the NEA Board Committees - Resolution No.148
15.	Did the Nomination and Compensation/Remuneration Committee meet at least twice during the year?		YES... BOA Activities and Resolutions (2019 Board)
16.	If yes, is the report of the Nomination and Compensation/ Remuneration Committee publicly disclosed?		BOA Activities and Resolutions (2019 BGNRC)
17.	Does the Board appoint an Audit Committee?		Yes. Composition of the NEA Board Committees - Resolution No.148
18.	If yes, is the report of the Audit Committee publicly disclosed?		BOA Activities and Resolutions (2019 BAC)
19.	Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?		BOA Profiles - Agustin L. Maddatu
20.	Did the Audit Committee meet at least four times during the year?		YES... BOA Activities and Resolutions (2019 Board)
21.	Does the Board appoint a Risk Management Committee?		Yes. Composition of the NEA Board Committees - Resolution No.148
22.	If yes, is the report on Risk Management Committee publicly disclosed?		BOA Activities and Resolutions (2019 BCRMC)
23.	Does at least one member of the Risk Management Committee have a background in finance and investments?		BOA Profiles - Alipio Cirilo V. Badelles
24.	Board meetings and attendance
	a.	Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)	YES... BOA Activities and Resolutions (2019 Board) Policy on Board Governance page 2, Items 1 and 2
	b.	Does the Board of Directors meet at least monthly?	YES... BOA Attendance Record 2019
	c.	Did the Board of Directors meet on at least 75% on their scheduled meetings?	YES... BOA Attendance Record 2019
	d.	Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?	YES... BOA Attendance Record 2019
	e.	Did the Board of Directors meet separately at least once during the year without the President/CEO present?	YES... BOA Attendance Record 2019 (April 29, 2019)
25.	Access to information
	a.	Does the GOCC have a policy that stipulates board papers for Board of Directors/Commissioners meetings be provided to the Board at least three (3) working days in advance of the board meeting?	BOA Policy on Board Governance, Board Resolution #95, Page 2, Item No. 5
	b.	Is the Board Secretary trained in legal, accountancy or company secretarial practices?	YES… BOA Profile 2019 (Atty. Mayflor C. Abuedo as Corporate Secretary)
26.	Internal Audit
	a.	Does the company have a separate internal audit function?	About Us - Organizational Charts - Internal Audit and Quality System Management Office
	b.	Does the appointment and removal of the internal auditor require the approval of the Audit Committee?	Appointment and removal of the internal auditor is under the CSC Rules.
27.	Risk Oversight
	a.	Does the company disclose the internal control procedures/risk management systems it has in place?	Risk Oversight NEA-QMS-SP-1_09 rev 01 (Risk Management)
	b.	Does the Annual Report disclose that the Board of Directors/Commissioners has overseen a review of the company's material controls (including operational, financial and compliance controls) and risk management systems?	Yes. 2019 Annual Report, p. 9
	c.	Does the company disclose how key risks are managed?	Risk Oversight NEA-QMS-SP-1_09 rev 01 (Risk Management)
	d.	Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC's internal controls/risk management systems?	Yes. 2019 Annual Report, p. 9
28.	Board Chairman
		Do different persons assume the roles of Chairman and CEO?	YES (Chairman: Secretary Alfonso G. Cusi, CEO: Administrator Edgardo R. Masongsong)
29.	Board of Directors Development
	a.	Does the GOCC have orientation programmes for new Directors?	Yes. EnerNEA, Vol. XVI, No. 4, p. 3 (NEA BOA members and NEA officials undergo Advanced Corporate Governance Training) YES. http://nea.gov.ph/ao39/nea-ec-training-institute?download=1309:training-calendar-for-the-year-2019
	b.	Does the GOCC have a policy that encourages Directors/ Commissioners to attend on-going or continuous professional education programmes?	BOA Policy on Board Governance, Board Resolution #95, Page 2, Item No. 7
	c.	Did all Appointive Directors attend at least 1 training for the calendar year?	Yes 2019 Annual Report pages 12-13 EnerNEA, Vol. XVI, No. 4, p. 3 (NEA BOA members and NEA officials undergo Advanced Corporate Governance Training) 2019 Trainings or Seminars Attended by the NEA BOA
30.	Board Appraisal
	a.	Is an annual performance assessment conducted of the Board of Directors?	CORSEC BOA self assessment Manual of Good Governance - Section 16
	b.	Does the GOCC disclose the process followed in conducting the Board assessment?	CORSEC BOA self assessment Manual of Good Governance - Section 16 page 13
	c.	Does the GOCC disclose the criteria used in the Board assessment?	CORSEC BOA self assessment Manual of Good Governance - Section 17 page 14
31.	Committee Appraisal
		Is an annual performance assessment conducted of the Board of Directors Committees?	CORSEC BOA self assessment Annual Performance Assessment was conducted on-line under GCG Circular 2014-03

IV. BONUS
	Stakeholder Relationships
1.	Does the GOCC practice Global Reporting Index (GRI) on its annual reports?
	Disclosure and Transparency
2.	Quality of Annual Report
	Are the audited annual financial report/statement released within 30 days upon the receipt from COA?	Transparency Seal - 2019 Audited Financial Statements - Date Rec'd by the NEA August 26, 2020; Date uploaded September 9, 2020 (14 Days)

V. PENALTY
	Responsibilities of the Board
1.	Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs?	None
2.	Is there non-compliance with Good Governance Conditions?	None

7.	Quality of Annual Report Does the GOCC's website disclose the following items:
	a.	Corporate objectives	2020 Annual Report pages 6-7 2020 Performance Scorecards
	b.	Financial performance indicators	2020 Annual Report pages 18-21 2020 Performance Scorecards
	c.	Non-financial performance indicators	2020 Annual Report pages 22-41 2020 Performance Scorecards
	d.	Details of whistle-blowing policy	2020 Annual Report pages 10-11 NEA Whistleblowing Policy Program and Complaint Policy
	e.	Biographical details (at least age, qualifications, date of first appointment, relevant experience, and any other directorships of listed companies) of directors/commissioners	2020 Annual Report pages 12-13
	f.	Training and/or continuing education programme attended by each director/commissioner	2020 Annual Report pages 12-13 Trainings/Seminars Attended by the NEA BOA
8.	Are the Annual Reports downloadable from the GOCC's website?		NEA Website, Homepage, Publications, Annual Reports
9.	Corporate Governance Confirmation Statement
		Does the Annual Report contain a statement confirming the company's full compliance with the code of corporate governance and where there is non-compliance, identify and explain reasons for each such issue?	2020 Annual Report pages 9
10.	Timely filing/release of annual/financial reports
	a.	Are the audited annual financial report/statement released within 60 days upon receipt from COA?	Transparency Seal - 2020 Audited Financial Statements - Date Rec'd by the NEA July 30, 2021; Date uploaded August 11, 2021 (12 Days)
	b.	Is the annual report released within 90 days from release of audited financial report?	Yes. NEA Transparency Seal - Date Rec'd from COA - July 30, 2021; Date uploaded October 20, 2021
	c.	Is the true and fairness/fair representation of the annual financial statement/reports affirmed by the board of directors/commissioners and/or the relevant officers of the company?	2020 Annual Report pages 17

11.	Corporate Vision/Mission
	a.	Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?	BR-No.-2019-111 2020 Annual Report pages 8
	b.	Does the Board of Directors monitor/oversee the implementation of the corporate strategy?	BR-NO.-2021-04 NEA Manual of Corporate Governance Section 8.c - page 5 Policy on Board Governance page 2, Items 1 and 2
12.	Did the GOCC achieve 90% in the PES?		Corporate Governance/GCG requirements/Performance Scorecard - Performance Evaluation System - Report 2020
13.	Code of ethics or conduct
	a.	Are the details of the code of ethics or conduct disclosed?	NEA Manual of Corporate Governance, Section 23. Charter of Expectations, Duties and Obligations of NEA Board Members and Officers About us - Code of Ethics
	b.	Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?	NEA Manual of Corporate Governance, Section 23. Charter of Expectations, Duties and Obligations of NEA Board Members and Officers About us - Code of Ethics
	c.	Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?	Transparency Seal - Certificate of Compliance for SALN Submission/Filing Observance and Compliance to M.C. No. 3 s 2016 Issued by the Office of the President and CSC Resolution No. 1701077 ADVISORIES: Twelve (12) things to know about R A 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 Status of Tracked Documents for CY 2019 (Dated: February 3, 2020) Filing of 2020 SALN SALN Advisory (Dated: January 6, 2020)
14.	Does the Board appoint a Nomination and Compensation/ Remuneration Committee?		Composition of the NEA Board Committees - Board Resolution No. 2020-45 and Board Resolution No. 148
15.	Did the Nomination and Compensation/Remuneration Committee meet at least twice during the year?		BOA Activities and Resolutions (2020 BGNRC)
16.	If yes, is the report of the Nomination and Compensation/ Remuneration Committee publicly disclosed?		BOA Activities and Resolutions (2020 BGNRC)
17.	Does the Board appoint an Audit Committee?		Composition of the NEA Board Committees - Resolution No.148
18.	If yes, is the report of the Audit Committee publicly disclosed?		BOA Activities and Resolutions (2020 BAC)
19.	Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?		BOA Profiles - Agustin L. Maddatu
20.	Did the Audit Committee meet at least four times during the year?		Activities of the NEA Board CY 2020 Schedule of Full Year Board and Committee Meetings
21.	Does the Board appoint a Risk Management Committee?		Composition of the NEA Board Committees - Board Resolution No. 2020-45 and Board Resolution No. 148
22.	If yes, is the report on Risk Management Committee publicly disclosed?		Activities of the NEA Board CY 2020 Schedule of Board Credit and Risk Management Committee (BCRMC) Meetings
23.	Does at least one member of the Risk Management Committee have a background in finance and investments?		BOA Profiles - Alipio Cirilo V. Badelles
24.	Board meetings and attendance
	a.	Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)	BOA Activities and Resolutions (2020 Board) Proposed Schedule of NEA BOAs Meeting for CY 2020 Notice of the Twenty Third Regular Board Meeting of the NEA Board of Administrators for 2019 Policy on Board Governance page 2, Items 1 and 2
	b.	Does the Board of Directors meet at least monthly?	BOA Attendance Record 2020 NEA Board of Administrators (BOA) Executive Session
	c.	Did the Board of Directors meet on at least 75% on their scheduled meetings?	BOA Attendance Record 2020
	d.	Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?	BOA Attendance Record 2020
	e.	Did the Board of Directors meet separately at least once during the year without the President/CEO present?	BOA Attendance Record 2020 (September 24,2020 BCRMC Meeting No. 8.)
25.	Access to information
	a.	Does the GOCC have a policy that stipulates board papers for Board of Directors/Commissioners meetings be provided to the Board at least three (3) working days in advance of the board meeting?	BOA Policy on Board Governance, Board Resolution #95, Page 2, Item No. 5
	b.	Is the Board Secretary trained in legal, accountancy or company secretarial practices?	BOA Profile (Atty. Mayflor C. Abuedo as Corporate Secretary)
26.	Internal Audit
	a.	Does the company have a separate internal audit function?	About Us - Organizational Charts - Internal Audit and Quality System Management Office
	b.	Does the appointment and removal of the internal auditor require the approval of the Audit Committee?	Appointment and removal of the internal auditor is under the CSC Rules.
27.	Risk Oversight
	a.	Does the company disclose the internal control procedures/risk management systems it has in place?	Risk Oversight NEA-QMS-SP-1_09 rev 01 (Risk Management)
	b.	Does the Annual Report disclose that the Board of Directors/Commissioners has overseen a review of the company's material controls (including operational, financial and compliance controls) and risk management systems?	2020 Annual Report pages 9
	c.	Does the company disclose how key risks are managed?	Risk Oversight NEA-QMS-SP-1_09 rev 01 (Risk Management)
	d.	Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC's internal controls/risk management systems?	2020 Annual Report pages 9
28.	Board Chairman
		Do different persons assume the roles of Chairman and CEO?	Chairman: Secretary Alfonso G. Cusi, CEO: Administrator Edgardo R. Masongsong
29.	Board of Directors Development
	a.	Does the GOCC have orientation programmes for new Directors?	Trainings/Seminars Attended by the NEA BOA
	b.	Does the GOCC have a policy that encourages Directors/ Commissioners to attend on-going or continuous professional education programmes?	BOA Policy on Board Governance, Board Resolution #95, Page 2, Item No. 7
	c.	Did all Appointive Directors attend at least 1 training for the calendar year?	Trainings/Seminars Attended by the NEA BOA 2020 Annual Report pages 12-13
30.	Board Appraisal
	a.	Is an annual performance assessment conducted of the Board of Directors?	CORSEC BOA self assessment NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03
	b.	Does the GOCC disclose the process followed in conducting the Board assessment?	CORSEC BOA self assessment NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03
	c.	Does the GOCC disclose the criteria used in the Board assessment?	CORSEC BOA self assessment NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03
31.	Committee Appraisal
		Is an annual performance assessment conducted of the Board of Directors Committees?	CORSEC BOA self assessment NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03

7.	Does the GOCC's website disclose the following items:
	a.	Corporate objectives	2021 Performance Scorecards 2021 Annual Report pages 6-7
	b.	Financial performance indicators	2021 Performance Scorecards 2021 Annual Report pages 6-7
	c.	Non-financial performance indicators	2021 Performance Scorecards 2021 Annual Report pages 6-7
	d.	Details of whistle-blowing policy	NEA Whistleblowing Policy Program and Complaint Policy 2021 Annual Report pages 10-11
	e.	Biographical details (at least age, qualifications, date of first appointment, relevant experience, and any other directorships of listed companies) of directors/commissioners	2021 Annual Report pages 12-13
	f.	Training and/or continuing education programme attended by each director/commissioner	Trainings/Seminars Attended by the NEA BOA 2021 Annual Report pages 12-13
8.	Are the Annual Reports downloadable from the GOCC's website?		NEA Website, Homepage, Publications, Annual Reports
9.	Corporate Governance Confirmation Statement
		Does the Annual Report contain a statement confirming the company's full compliance with the code of corporate governance and where there is non-compliance, identify and explain reasons for each such issue?	2021 Annual Report pages 9
10.	Timely filing/release of annual/financial reports
	a.	Are the audited annual financial report/statement released within 60 days upon receipt from COA?	Transparency Seal - 2021 Audited Financial Statements (date received by NEA from COA: June 29, 2022, date uploaded: July 21, 2022)
	b.	Is the annual report released within 90 days from release of audited financial report?	Transparency Seal - 2021 Annual Report (- Date Rec'd from COA - June 29, 2022; Date uploaded September 27, 2022)
	c.	Is the true and fairness/fair representation of the annual financial statement/reports affirmed by the board of directors/commissioners and/or the relevant officers of the company?	2021 Annual Report pages 17

11.	Corporate Vision/Mission
	a.	Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?	Board Resolution No. 2020-02 "Approval of CY 2021 Performance Evaluation System (PES) Requirements 2021 Annual Report pages 9
	b.	Does the Board of Directors monitor/oversee the implementation of the corporate strategy?	RB Resolution No. 2022-07 "Approval of the 2021 Performance Scorecard Accomplishment Report and its Submission to the Governance Commission for GOCCs(GCG). NEA Manual of Corporate Governance Section 8.c - page 5 Policy on Board Governance page 2, Items 1 and 2
12.	Did the GOCC achieve 90% in the PES?		https://www.nea.gov.ph/ao39/phoca download/Tranparency_Upload/PES/2021/ MonitoringReport%20asofDec31-2021.pdf
13.	Code of ethics or conduct
	a.	Are the details of the code of ethics or conduct disclosed?	NEA Manual of Corporate Governance, Section 23. Charter of Expectations, Duties and Obligations of NEA Board Members and Officers About us - Code of Ethics
	b.	Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?	NEA Manual of Corporate Governance, Section 23. Charter of Expectations, Duties and Obligations of NEA Board Members and Officers About us - Code of Ethics
	c.	Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?	Transparency Seal - Certificate of Compliance for SALN Submission/Filing Observance and Compliance to M.C. No. 3 s 2016 Issued by the Office of the President and CSC Resolution No. 1701077 ADVISORIES: Twelve (12) things to know about R A 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 Status of Tracked Documents for CY 2019 (Dated: February 3, 2020) Filing of 2020 SALN SALN Advisory (Dated: January 6, 2020)
14.	Does the Board appoint a Nomination and Compensation/Remuneration Committee?		Composition of the NEA Board Committees - Board Resolution No. 2020-45 and Board Resolution No. 148
15.	Did the Nomination and Compensation/Remuneration Committee meet at least twice during the year?		BOA Activities and Resolutions (2021 BGNRC)
16.	If yes, is the report of the Nomination and Compensation/ Remuneration Committee publicly disclosed?		BOA Activities and Resolutions (2021 BGNRC)
17.	Does the Board appoint an Audit Committee?		Composition of the NEA Board Committees - Resolution No.148
18.	If yes, is the report of the Audit Committee publicly disclosed?		BOA Activities and Resolutions (2021 BAC)
19.	Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?		BOA Profiles - Agustin L. Maddatu
20.	Did the Audit Committee meet at least four times during the year?		Activities of the NEA Board CY 2021 Schedule of Full Year Board and Committee Meetings
21.	Does the Board appoint a Risk Management Committee?		Composition of the NEA Board Committees - Board Resolution No. 2020-45 and Board Resolution No. 148
22.	If yes, is the report on Risk Management Committee publicly disclosed?		Activities of the NEA Board CY 2021 Schedule of Board Credit and Risk Management Committee (BCRMC) Meetings
23.	Does at least one member of the Risk Management Committee have a background in finance and investments?		BOA Profiles - Alipio Cirilo V. Badelles
24.	Board meetings and attendance
	a.	Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)	BOA Activities and Resolutions (2021 Board) Board Resolution no 2021-15 Policy on Board Governance page 2, Items 1 and 2
	b.	Does the Board of Directors meet at least monthly?	BOA Attendance Record 2021
	c.	Did the Board of Directors meet on at least 75% on their scheduled meetings?	BOA Attendance Record 2021
	d.	Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?	BOA Attendance Record 2021
	e.	Did the Board of Directors meet separately at least once during the year without the President/CEO present?	BOA Attendance Record 2021
25.	Access to information
	a.	Does the GOCC have a policy that stipulates board papers for Board of Directors/Commissioners meetings be provided to the Board at least three (3) working days in advance of the board meeting?	BOA Policy on Board Governance, Board Resolution #95, Page 2, Item No. 5
	b.	Is the Board Secretary trained in legal, accountancy or company secretarial practices?	BOA Profile (Atty. Gwen P. Enciso-Kyamko as Corporate Secretary)
26.	Internal Audit
	a.	Does the company have a separate internal audit function?	About Us - Organizational Charts - Internal Audit and Quality System Management Office
	b.	Does the appointment and removal of the internal auditor require the approval of the Audit Committee?	Appointment and removal of the internal auditor is under the CSC Rules.
27.	Risk Oversight
	a.	Does the company disclose the internal control procedures/risk management systems it has in place?	Risk Oversight NEA-QMS-SP-1_09 rev 01 (Risk Management)
	b.	Does the Annual Report disclose that the Board of Directors/Commissioners has overseen a review of the company's material controls (including operational, financial and compliance controls) and risk management systems?	2021 Annual Report pages 9
	c.	Does the company disclose how key risks are managed?	Risk Oversight NEA-QMS-SP-1_09 rev 01 (Risk Management)
	d.	Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC's internal controls/risk management systems?	2021 Annual Report pages 9
28.	Board Chairman
		Do different persons assume the roles of Chairman and CEO?	Chairman: Secretary Alfonso G. Cusi, CEO: Administrator Emmanuel P. Juaneza
29.	Board of Directors Development
	a.	Does the GOCC have orientation programmes for new Directors?	2021 Trainings/Seminars Attended by the NEA BOA 2020 Trainings/Seminars Attended by the NEA BOA
	b.	Does the GOCC have a policy that encourages Directors/ Commissioners to attend on-going or continuous professional education programmes?	BOA Policy on Board Governance, Board Resolution #95, Page 2, Item No. 7
	c.	Did all Appointive Directors attend at least 1 training for the calendar year?	Trainings/Seminars Attended by the NEA BOA
30.	Board Appraisal
	a.	Is an annual performance assessment conducted of the Board of Directors?	CORSEC BOA self assessment NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03
	b.	Does the GOCC disclose the process followed in conducting the Board assessment?	CORSEC BOA self assessment NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03
	c.	Does the GOCC disclose the criteria used in the Board assessment?	CORSEC BOA self assessment NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03
31.	Committee Appraisal
		Is an annual performance assessment conducted of the Board of Directors Committees?	CORSEC BOA self assessment NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03

7.	Does the GOCC's website disclose the following items:
	a.	Corporate objectives	2022 Performance Scorecards 2022 Annual Report
	b.	Financial performance indicators	2022 Performance Scorecards Annual Report
	c.	Non-financial performance indicators	2022 Performance Scorecards 2022 Annual Report
	d.	Details of whistle-blowing policy	NEA Whistleblowing Policy Program and Complaint Policy 2022 Annual Report
	e.	Biographical details (at least age, qualifications, date of first appointment, relevant experience, and any other directorships of listed companies) of directors/commissioners	2022 Annual Report
	f.	Training and/or continuing education programme attended by each director/commissioner	Trainings/Seminars Attended by the NEA BOA 2022 Annual Report
8.	Are the Annual Reports downloadable from the GOCC's website?		NEA Website, Homepage, Publications, Annual Reports
9.	Corporate Governance Confirmation Statement
		Does the Annual Report contain a statement confirming the company's full compliance with the code of corporate governance and where there is non-compliance, identify and explain reasons for each such issue?	Corporate Governance Confirmation Statement 2022 Annual Report
10.	Timely filing/release of annual/financial reports
	a.	Are the audited annual financial report/statement released within 60 days upon receipt from COA?	Transparency Seal - 2022 Audited Financial Statements (Date received by NEA from COA: June 26, 2023, date uploaded: June 29, 2023)
	b.	Is the annual report released within 90 days from release of audited financial report?	Transparency Seal - 2022 Annual Report (Date Rec'd from COA - June 26, 2023; Date uploaded September 22, 2023)
	c.	Is the true and fairness/fair representation of the annual financial statement/reports affirmed by the board of directors/commissioners and/or the relevant officers of the company?	2022 Annual Report page 19

11.	Corporate Vision/Mission
	a.	Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?	Board Resolution No. 2021-81 "Approval of CY 2022 Performance Evaluation System (PES) Requirements 2022 Annual Report
	b.	Does the Board of Directors monitor/oversee the implementation of the corporate strategy?	RB Resolution No. 2023-04 "Request for Referendum on the Approval of the 2022 Performance Scorecard Accomplishment Report and Its Submission to the Governance Commission for GOCCs (GCG)" NEA Manual of Corporate Governance Section 8.c - page 5 Policy on Board Governance page 2, Items 1 and 2
12.	Did the GOCC achieve 90% in the PES?		Corporate Governance/GCG requirements/Performance Scorecard-Performance Evaluation System-Report 2022
13.	Code of ethics or conduct
	a.	Are the details of the code of ethics or conduct disclosed?	NEA Manual of Corporate Governance, Section 23. Charter of Expectations, Duties and Obligations of NEA Board Members and Officers About us - Code of Ethics
	b.	Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?	NEA Manual of Corporate Governance, Section 23. Charter of Expectations, Duties and Obligations of NEA Board Members and Officers About us - Code of Ethics
	c.	Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?	Transparency Seal - Certificate of Compliance for 2021 SALN Submission/Filing Transparency Seal - Certificate of Compliance for 2020 SALN Submission/Filing Observance and Compliance to M.C. No. 3 s 2016 Issued by the Office of the President and CSC Resolution No. 1701077 ADVISORIES: Twelve (12) things to know about R A 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 Status of Tracked Documents for CY 2019 (Dated: February 3, 2020) Filing of 2020 SALN SALN Advisory (Dated: January 6, 2020) Filing of 2021 SALN
14.	Does the Board appoint a Nomination and Compensation/Remuneration Committee?		Composition of the NEA Board Committees - Board Resolution No. 2020-45 and Board Resolution No. 148
15.	Did the Nomination and Compensation/Remuneration Committee meet at least twice during the year?		Board Attendance Record CY 2022
16.	If yes, is the report of the Nomination and Compensation/ Remuneration Committee publicly disclosed?		Summary of Actions Taken of BGNRC for CY 2022
17.	Does the Board appoint an Audit Committee?		Composition of the NEA Board Committees - Resolution No.148
18.	If yes, is the report of the Audit Committee publicly disclosed?		Summary of Actions Taken of BAC for CY 2022
19.	Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?		BOA Profiles - Agustin L. Maddatu
20.	Did the Audit Committee meet at least four times during the year?		BOA Attendance Record 2022
21.	Does the Board appoint a Risk Management Committee?		Composition of the NEA Board Committees - Board Resolution No. 2020-45 and Board Resolution No. 148
22.	If yes, is the report on Risk Management Committee publicly disclosed?		Summary of Actions Taken of BCRMC for CY 2022
23.	Does at least one member of the Risk Management Committee have a background in finance and investments?		BOA Profiles - Alipio Cirilo V. Badelles
24.	Board meetings and attendance
	a.	Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)	BOA Activities and Resolutions (2022 Board) Policy on Board Governance page 2, Items 1 and 2 Reso No. 2021-151 in Item No. 24 (a)
	b.	Does the Board of Directors meet at least monthly?	BOA Attendance Record 2022
	c.	Did the Board of Directors meet on at least 75% on their scheduled meetings?	BOA Attendance Record 2022
	d.	Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?	BOA Attendance Record 2022
	e.	Did the Board of Directors meet separately at least once during the year without the President/CEO present?	BOA Attendance Record 2022
25.	Access to information
	a.	Does the GOCC have a policy that stipulates board papers for Board of Directors/Commissioners meetings be provided to the Board at least three (3) working days in advance of the board meeting?	BOA Policy on Board Governance, Board Resolution #95, Page 2, Item No. 5
	b.	Is the Board Secretary trained in legal, accountancy or company secretarial practices?	BOA Profile (Atty. Gwen P. Enciso-Kyamko as Corporate Secretary)
26.	Internal Audit
	a.	Does the company have a separate internal audit function?	About Us - Organizational Charts - Internal Audit and Quality System Management Office
	b.	Does the appointment and removal of the internal auditor require the approval of the Audit Committee?	Appointment and removal of the internal auditor is under the CSC Rules.
27.	Risk Oversight
	a.	Does the company disclose the internal control procedures/risk management systems it has in place?	Risk Oversight NEA-QMS-SP-1_09 rev 01 (Risk Management)
	b.	Does the Annual Report disclose that the Board of Directors/Commissioners has overseen a review of the company's material controls (including operational, financial and compliance controls) and risk management systems?	2022 Annual Report
	c.	Does the company disclose how key risks are managed?	Risk Oversight NEA-QMS-SP-1_09 rev 01 (Risk Management)
	d.	Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC's internal controls/risk management systems?	2022 Annual Report
28.	Board Chairman
		Do different persons assume the roles of Chairman and CEO?	Chairman: Secretary Raphael Perpetuo M. Lotilla CEO: Administrator Antonio Mariano C. Almeda
29.	Board of Directors Development
	a.	Does the GOCC have orientation programmes for new Directors?	2022 Trainings/Seminars Attended by the NEA BOA 2021 Trainings/Seminars Attended by the NEA BOA 2020 Trainings/Seminars Attended by the NEA BOA
	b.	Does the GOCC have a policy that encourages Directors/ Commissioners to attend on-going or continuous professional education programmes?	BOA Policy on Board Governance, Board Resolution #95, Page 2, Item No. 7
	c.	Did all Appointive Directors attend at least 1 training for the calendar year?	2022 Trainings/Seminars Attended by the NEA BOA
30.	Board Appraisal
	a.	Is an annual performance assessment conducted of the Board of Directors?	CORSEC BOA self assessment NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03
	b.	Does the GOCC disclose the process followed in conducting the Board assessment?	CORSEC BOA self assessment NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03
	c.	Does the GOCC disclose the criteria used in the Board assessment?	CORSEC BOA self assessment NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03
31.	Committee Appraisal
		Is an annual performance assessment conducted of the Board of Directors Committees?	CORSEC BOA self assessment NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03

7.	Does the GOCC's website disclose the following items:
	a.	Corporate objectives	2023 Performance Scorecard 2023 Annual Report page 9
	b.	Financial performance indicators	2023 Performance Scorecard 2023 Annual Report page 9
	c.	Non-financial performance indicators	2023 Performance Scorecard 2023 Annual Report page 9
	d.	Details of whistle-blowing policy	NEA Whistleblowing Policy Program and Complaint Policy 2023 Annual Report pages 10-11
	e.	Biographical details (at least age, qualifications, date of first appointment, relevant experience, and any other directorships of listed companies) of directors/commissioners	2023 Annual Report pages 12-13
	f.	Training and/or continuing education programme attended by each director/commissioner	2023 Trainings/Seminars Attended by the NEA BOA 2023 Annual Report pages 12-13
8.	Are the Annual Reports downloadable from the GOCC's website?		NEA Website, Homepage, Publications, Annual Reports
9.	Corporate Governance Confirmation Statement
		Does the Annual Report contain a statement confirming the company's full compliance with the code of corporate governance and where there is non-compliance, identify and explain reasons for each such issue?	Corporate Governance Confirmation Statement 2023 Annual Report page 8
10.	Timely filing/release of annual/financial reports
	a.	Are the audited annual financial report/statement released within 60 days upon receipt from COA?	Transparency Seal - 2023 Audited Financial Statements (Date received by NEA from COA: May 30, 2024, date uploaded: June 3, 2024)
	b.	Is the annual report released within 90 days from release of audited financial report?	Transparency Seal - 2023 Annual Report (Date Rec'd from COA - May 30, 2024; Date uploaded August 22, 2024)
	c.	Is the true and fairness/fair representation of the annual financial statement/reports affirmed by the board of directors/commissioners and/or the relevant officers of the company?	2023 Annual Report Page 19

11.	Corporate Vision/Mission
	a.	Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?	RB Resolution No. 2022-124 Approval of the CY 2023 Performance Evaluation System (PES) Requirements 2023 Annual Report page 8
	b.	Does the Board of Directors monitor/oversee the implementation of the corporate strategy?	Board Resolution No. 2024-10 "Request for Referendum on the Approval of the 2023 Performance Scorecard Accomplishment Report and Its Submission to the GCG NEA Manual of Corporate Governance Section 8.c - page 5 Policy on Board Governance page 2, Items 1 and 2
12.	Did the GOCC achieve 90% in the PES?		Corporate Governance/GCG requirements/Performance Scorecard-Performance Evaluation System-Report 2023
13.	Code of ethics or conduct
	a.	Are the details of the code of ethics or conduct disclosed?	NEA Manual of Corporate Governance, Section 23. Charter of Expectations, Duties and Obligations of NEA Board Members and Officers About us - Code of Ethics
	b.	Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?	NEA Manual of Corporate Governance, Section 23. Charter of Expectations, Duties and Obligations of NEA Board Members and Officers About us - Code of Ethics
	c.	Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?	Transparency Seal- Certificate of Compliance for 2022 SALN Submission/Filing Transparency Seal - Certificate of Compliance for 2021 SALN Submission/Filing Transparency Seal - Certificate of Compliance for 2020 SALN Submission/Filing Observance and Compliance to M.C. No. 3 s 2016 Issued by the Office of the President and CSC Resolution No. 1701077 ADVISORIES: Twelve (12) things to know about R A 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 Status of Tracked Documents for CY 2019 (Dated: February 3, 2020) Filing of 2020 SALN SALN Advisory (Dated: January 6, 2020) Filing of 2021 SALN Filing of 2022 SALN
14.	Does the Board appoint a Nomination and Compensation/Remuneration Committee?		RB Resolution No. 2022-176 "Update in the Composition of the Members of Board Governance, Nomination and Remuneration Committee (BGNRC) and Board Credit and Risk Management Committee (BCRMC) Board Resolution No. 148 S.2017 "Composition of NEA Board Committees" Board of Administrators Attendance Record for CY 2023 Board Resolution No. 2020-45
15.	Did the Nomination and Compensation/Remuneration Committee meet at least twice during the year?		Board of Administrators Attendance Record for CY 2023
16.	If yes, is the report of the Nomination and Compensation/ Remuneration Committee publicly disclosed?		Summary of Approved Items in BGNRC 2023
17.	Does the Board appoint an Audit Committee?		Composition of the NEA Board Committees - Resolution No.148 S. 2017
18.	If yes, is the report of the Audit Committee publicly disclosed?		Summary of Actions Taken by the BAC for CY 2023
19.	Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?		BOA Profiles - Agustin L. Maddatu
20.	Did the Audit Committee meet at least four times during the year?		Board of Administrators Attendance Record for CY 2023
21.	Does the Board appoint a Risk Management Committee?		RB Resolution No. 2022-176 "Update in the Composition of the Members of Board Governance, Nomination and Remuneration Committee (BGNRC) and Board Credit and Risk Management Committee (BCRMC) Board Resolution No. 148 S.2017 "Composition of NEA Board Committees" BCRMC Attendance Record for CY 2023 Board Resolution No. 2020-45
22.	If yes, is the report on Risk Management Committee publicly disclosed?		BCRMC Attendance Record for CY 2023 Summary of Approved items in BCRMC CY 2023
23.	Does at least one member of the Risk Management Committee have a background in finance and investments?		BOA Profiles - Alipio Cirilo V. Badelles
24.	Board meetings and attendance
	a.	Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)	Policy on Board Governance page 2, Items 1 and 2 Board of Administrators Attendance Record for CY 2023 RB Resolution No. 199 S. 2022" Proposed Committee and Board Meeting Schedule for CY 2023"
	b.	Does the Board of Directors meet at least monthly?	Board of Administrators Attendance Record for CY 2023
	c.	Did the Board of Directors meet on at least 75% on their scheduled meetings?	Board of Administrators Attendance Record for CY 2023
	d.	Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?	Board of Administrators Attendance Record for CY 2023
	e.	Did the Board of Directors meet separately at least once during the year without the President/CEO present?	Board of Administrators Attendance Record for CY 2023
25.	Access to information
	a.	Does the GOCC have a policy that stipulates board papers for Board of Directors/Commissioners meetings be provided to the Board at least three (3) working days in advance of the board meeting?	BOA Policy on Board Governance, Board Resolution #95, Page 2, Item No. 5
	b.	Is the Board Secretary trained in legal, accountancy or company secretarial practices?	BOA Profile (Atty. Gwen P. Enciso-Kyamko as Corporate Secretary)
26.	Internal Audit
	a.	Does the company have a separate internal audit function?	About Us - Organizational Charts - Internal Audit and Quality System Management Office
	b.	Does the appointment and removal of the internal auditor require the approval of the Audit Committee?	RF No. 34, BR No. 2023-32 - Request for Referendum on the Approval of the Proposed Amendment to the NEA Manual of Corporate Governance
27.	Risk Oversight
	a.	Does the company disclose the internal control procedures/risk management systems it has in place?	Risk Oversight NEA-QMS-SP-1.09 rev 02 (Risk and Opportunity Management)
	b.	Does the Annual Report disclose that the Board of Directors/Commissioners has overseen a review of the company's material controls (including operational, financial and compliance controls) and risk management systems?	2023 Annual Report page 8
	c.	Does the company disclose how key risks are managed?	Risk Oversight NEA-QMS-SP-1.09 rev 02 (Risk and Opportunity Management)
	d.	Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC's internal controls/risk management systems?	2023 Annual Report page 8
28.	Board Chairman
		Do different persons assume the roles of Chairman and CEO?	Chairman: Secretary Raphael Perpetuo M. Lotilla CEO: Administrator Antonio Mariano C. Almeda
29.	Board of Directors Development
	a.	Does the GOCC have orientation programmes for new Directors?	Orientation Program for the Newly-Appointed NEA Board of Administrators 2023 Trainings/Seminars Attended by the NEA BOA 2022 Trainings/Seminars Attended by the NEA BOA 2021 Trainings/Seminars Attended by the NEA BOA 2020 Trainings/Seminars Attended by the NEA BOA
	b.	Does the GOCC have a policy that encourages Directors/ Commissioners to attend on-going or continuous professional education programmes?	BOA Policy on Board Governance, Board Resolution #95, Page 2, Item No. 7
	c.	Did all Appointive Directors attend at least 1 training for the calendar year?	2023 Seminars Attended by the NEA BOA
30.	Board Appraisal
	a.	Is an annual performance assessment conducted of the Board of Directors?	Yes, The Board conducted the Performance Assessment last December 11, 2023 BOA Assessment Form NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03
	b.	Does the GOCC disclose the process followed in conducting the Board assessment?	BOA Assessment Form NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03
	c.	Does the GOCC disclose the criteria used in the Board assessment?	BOA Assessment Form NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03
31.	Committee Appraisal
		Is an annual performance assessment conducted of the Board of Directors Committees?	BOA Assessment Form NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03

	Stakeholder Relationships
1.	Does the GOCC practice Global Reporting Index (GRI) on its annual reports?	2023 Annual Report Page 60-61
	Disclosure and Transparency
2.	Quality of Annual Report
	Are the audited annual financial report/statement released within 30 days upon the receipt from COA?	Transparency Seal - 2023 Audited Financial Statements (Date received by NEA from COA: May 30, 2024, date uploaded: June 3, 2024)

11.	Corporate Vision/Mission
	a.	Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?	Board Resolution No. 2023-20 - Request for Referendum on the CY 2024 Performance Evaluation System (PES) Requirements
	b.	Does the Board of Directors monitor/oversee the implementation of the corporate strategy?	NEA Manual of Corporate Governance Section 8.c - page 5 Policy on Board Governance page 2, Items 1 and 2
12.	Did the GOCC achieve 90% in the PES?
13.	Code of ethics or conduct
	a.	Are the details of the code of ethics or conduct disclosed?	NEA Manual of Corporate Governance, Section 23. Charter of Expectations, Duties and Obligations of NEA Board Members and Officers About us - Code of Ethics
	b.	Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?	NEA Manual of Corporate Governance, Section 23. Charter of Expectations, Duties and Obligations of NEA Board Members and Officers About us - Code of Ethics
	c.	Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?	Transparency Seal- Certificate of Compliance for 2023 SALN Submission/Filing Transparency Seal- Certificate of Compliance for 2022 SALN Submission/Filing Transparency Seal - Certificate of Compliance for 2021 SALN Submission/Filing Transparency Seal - Certificate of Compliance for 2020 SALN Submission/Filing Observance and Compliance to M.C. No. 3 s 2016 Issued by the Office of the President and CSC Resolution No. 1701077 ADVISORIES: Twelve (12) things to know about R A 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 Status of Tracked Documents for CY 2019 (Dated: February 3, 2020) Filing of 2020 SALN SALN Advisory (Dated: January 6, 2020) Filing of 2021 SALN Filing of 2022 SALN Filing of 2023 SALN
14.	Does the Board appoint a Nomination and Compensation/Remuneration Committee?		RB Resolution No. 2022-176 "Update in the Composition of the Members of Board Governance, Nomination and Remuneration Committee (BGNRC) and Board Credit and Risk Management Committee (BCRMC) Board Resolution No. 148 S.2017 "Composition of NEA Board Committees" Board of Administrators Attendance Record for CY 2024 Board Resolution No. 2020-45
15.	Did the Nomination and Compensation/Remuneration Committee meet at least twice during the year?		Board of Administrators Attendance Record for CY 2024
16.	If yes, is the report of the Nomination and Compensation/ Remuneration Committee publicly disclosed?		Summary of Approved Items in BGNRC 2024
17.	Does the Board appoint an Audit Committee?		Composition of the NEA Board Committees - Resolution No.148 S. 2017
18.	If yes, is the report of the Audit Committee publicly disclosed?		Summary of Actions Taken by the BAC for CY 2024
19.	Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?		BOA Profiles - Agustin L. Maddatu
20.	Did the Audit Committee meet at least four times during the year?		Board of Administrators Attendance Record for CY 2024
21.	Does the Board appoint a Risk Management Committee?		RB Resolution No. 2022-176 "Update in the Composition of the Members of Board Governance, Nomination and Remuneration Committee (BGNRC) and Board Credit and Risk Management Committee (BCRMC) Board Resolution No. 148 S.2017 "Composition of NEA Board Committees" BCRMC Attendance Record for CY 2024 Board Resolution No. 2020-45
22.	If yes, is the report on Risk Management Committee publicly disclosed?		BCRMC Attendance Record for CY 2024 Summary of Approved items in BCRMC CY 2024
23.	Does at least one member of the Risk Management Committee have a background in finance and investments?		BOA Profiles - Alipio Cirilo V. Badelles
24.	Board meetings and attendance
	a.	Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)	Policy on Board Governance page 2, Items 1 and 2 Board of Administrators Attendance Record for CY 2024 Proposed Committee and Board Meeting Schedule for CY 2024
	b.	Does the Board of Directors meet at least monthly?	Board of Administrators Attendance Record for CY 2024
	c.	Did the Board of Directors meet on at least 75% on their scheduled meetings?	Board of Administrators Attendance Record for CY 2024
	d.	Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?	Board of Administrators Attendance Record for CY 2024
	e.	Did the Board of Directors meet separately at least once during the year without the President/CEO present?	Board of Administrators Attendance Record for CY 2024
25.	Access to information
	a.	Does the GOCC have a policy that stipulates board papers for Board of Directors/Commissioners meetings be provided to the Board at least three (3) working days in advance of the board meeting?	BOA Policy on Board Governance, Board Resolution #95, Page 2, Item No. 5
	b.	Is the Board Secretary trained in legal, accountancy or company secretarial practices?	BOA Profile (Atty. Gwen P. Enciso-Kyamko as Corporate Secretary)
26.	Internal Audit
	a.	Does the company have a separate internal audit function?	About Us - Organizational Charts - Internal Audit and Quality System Management Office
	b.	Does the appointment and removal of the internal auditor require the approval of the Audit Committee?	RF No. 34, BR No. 2023-32 - Request for Referendum on the Approval of the Proposed Amendment to the NEA Manual of Corporate Governance
27.	Risk Oversight
	a.	Does the company disclose the internal control procedures/risk management systems it has in place?	Risk Oversight NEA-QMS-SP-1.09 rev 02 (Risk and Opportunity Management)
	b.	Does the Annual Report disclose that the Board of Directors/Commissioners has overseen a review of the company's material controls (including operational, financial and compliance controls) and risk management systems?
	c.	Does the company disclose how key risks are managed?	Risk Oversight NEA-QMS-SP-1.09 rev 02 (Risk and Opportunity Management)
	d.	Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC's internal controls/risk management systems?
28.	Board Chairman
		Do different persons assume the roles of Chairman and CEO?	Chairman: Secretary Raphael Perpetuo M. Lotilla CEO: Administrator Antonio Mariano C. Almeda
29.	Board of Directors Development
	a.	Does the GOCC have orientation programmes for new Directors?	Orientation Program for the Newly-Appointed NEA Board of Administrators 2024 Trainings/Seminars Attended by the NEA BOA 2023 Trainings/Seminars Attended by the NEA BOA 2022 Trainings/Seminars Attended by the NEA BOA 2021 Trainings/Seminars Attended by the NEA BOA 2020 Trainings/Seminars Attended by the NEA BOA
	b.	Does the GOCC have a policy that encourages Directors/ Commissioners to attend on-going or continuous professional education programmes?	BOA Policy on Board Governance, Board Resolution #95, Page 2, Item No. 7
	c.	Did all Appointive Directors attend at least 1 training for the calendar year?	2024 Trainings/Seminars Attended by the NEA BOA
30.	Board Appraisal
	a.	Is an annual performance assessment conducted of the Board of Directors?	Yes, The Board conducted the Performance Assessment last December 17, 2024 BOA Assessment Form NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03
	b.	Does the GOCC disclose the process followed in conducting the Board assessment?	BOA Assessment Form NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03
	c.	Does the GOCC disclose the criteria used in the Board assessment?	BOA Assessment Form NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03
31.	Committee Appraisal
		Is an annual performance assessment conducted of the Board of Directors Committees?	BOA Assessment Form NEA Manual of Corporate Governance - Section 16 Annual Performance Assessment was conducted on-line under GCG Circular 2014-03

AUXILIARY MENU

GOVPH

Corporate Governance Scorecard

2019 Scorecard

I. Stakeholder Relationships (15%)

II. Disclosure and Transparency (35%)

III. Responsibilities of the Board (50%)

IV. BONUS

V. PENALTY

2020 Scorecard

I. Stakeholder Relationships (15%)

II. Disclosure and Transparency (35%)

III. Responsibilities of the Board (50%)

IV. BONUS

V. PENALTY

2021 Scorecard

I. Stakeholder Relationships (15%)

II. Disclosure and Transparency (35%)

III. Responsibilities of the Board (50%)

IV. BONUS

V. PENALTY

2022 Scorecard

I. Stakeholder Relationships (15%)

II. Disclosure and Transparency (35%)

III. Responsibilities of the Board (50%)

IV. BONUS

V. PENALTY

2023 Scorecard

I. Stakeholder Relationships (15%)

II. Disclosure and Transparency (35%)

III. Responsibilities of the Board (50%)

IV. BONUS

V. PENALTY

2024 Scorecard

I. Stakeholder Relationships (15%)

II. Disclosure and Transparency (35%)

III. Responsibilities of the Board (50%)

IV. BONUS

V. PENALTY

GCG Requirements