Corporate Governance

Corporate Governance Scorecard
GCG Requirements

Corporate Governance Scorecard

2023 Scorecard

STANDARD

NEA COMPLIANCE/LINK

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 NEA Manual of Corporate Governance, Section 37. Customers, Section 39. Health Safety, Section 40. Environment page 22 Policy on Non-Smoking NEA Quality Policy Office Order No. 2023-045 - Reconstitution of NEA Anti-Corruption Committee (NEAACC) Office Order No. 2023-101 - Creation of Health, Wellness, Welfare and Safety Committee Office Order No. 2023-130 - Seminar-Workshop on Sexual Harassment in the Workplace Office Order No. 2021-12 - Safety and Conservation Committee Office Order No. 2021-110 - Creation of the National Electrification Administration Anti-Corruption Committee (NEAACC)
	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) NEA Manual of Corporate Governance Section 34 pages 19-20 Office Order No. 2023-029 - Reconstitution of NEA Hotline 8888 or Citizens' Complaint Center Office Order No. 2021-55 - Creation of NEA Committee on Anti-Red Tape (CART)
	c.	Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development ?	NEA 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) Technical Advisory No_1 s2016 Office Order No. 2023-112 - Reconstitution of Emergency Preparedness Team Office Order No. 2023-268 - Reconstitution of the Energy Efficiency and Conservation Committee and the Energy Conservation Team Office Order No. 2023-367 - Reconstitution of the Energy Efficiency and Conservation Committee and the Energy Conservation Team Memo to ECs 2021-036 Renewable Energy Development Plan
2.	Does the GOCC disclose the activities that it has undertaken to implement the above mentioned policies?
	a.	Customer health and safety	EnerNEA 2Q 2023, Page 7 - Preparation of Contingency Measures for Typhoon Betty Office Order No. 2023-038 - Conduct of the Safety Leadership Seminar for Electric Cooperatives Office Order No. 2023-064 - Conduct of the Safety Leadership Seminar for Electric Cooperatives Office Order No. 2023-091 - Security Awareness Seminar (Batch 1} Office Order No. 2023-101 - Creation of Health, Wellness, Welfare and Safety Committee Memo to ECs No. 2021-034 - Ensuring Reliable Operations of Distribution System and Facilities in Anticipation of Possible Natural Disasters Occurrences during the Government's COVID-19 Vaccine Roll-Out Program
	b.	Interaction with the communities	Memo to ECs No. 2023-43 - Preparation before, during and after 2023 Barangay and Sangguniang Kabataan Elections and Guidelines for Reporting of Electric Cooperatives to the NEA Power Task Force Elections 2023 Office Order No. 2023-227 - Composition of NEA Power Task Force Election 2023 Office Order No. 2023-231 - 2023 NEA-EC Outreach Program EnerNEA 3Q 2023, Page 8 - NEA SAMAKAREN Outreach
	c.	Environmentally-friendly value chain	Memo to ECs No. 2023-42 - 2023 NEA-ECs Simultaneous Line Clearing and Tree Planting Activity EnerNEA 3Q 2023, Page 5 - NEA-ECs Simultaneous Tree Planting and Line Clearing Office Order No. 2023-002 - Conduct of the Conference on Renewable Energy Embedded Generation Facility for Electric Cooperatives Office Order No. 2023-072 - Conference on Distributed Renewable Energy Systems for Off-grid and Energy Poor Areas - Needs Assessment Survey Office Order No. 2023-273 - Mandatory Eight-Hour Safety and Health Seminar (MESH) for NEECO II-Area 2 Office Order No. 2023-300 - Renewable Energy Policy Dialogue-Forum and Training on Renewable Energy Project Development and Local Energy Planning
3.	Does the GOCC have a separate corporate social responsibility (CSR) report/section or sustainability report/section?		NEA website has separate CSR Section
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 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 NEA 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 1Q 2023, Page 8 - Health, Wellness and Safety Program HRAD Advisory - Health, Wellness, Welfare and Safety Program - Vaccination Drive Health, Wellness, Welfare and Safety Program - Vaccination Drive
	c.	Does the GOCC have training and development programmes for its employees?	NEA Website, Homepage, NEA-EC Training corner Guidelines in the Implementation of EQUAL OPPORTUNITY PRINCIPLE (EOP) in Human Resource Management (HRM) Systems 2023 NEA Corporate Training Calendar 2023 EC Comprehensive Training Plan
	d.	Does the GOCC publish data on training and development programs for its employees?	2023 NEA Corporate Training Calendar 2023 EC Comprehensive Training Plan 2023 NETI Accomplishments
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.	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

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?	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

IV. BONUS

	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)

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

AUXILIARY MENU

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Corporate Governance

Corporate Governance Scorecard

2018 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

GCG Requirements

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?	Manual of Corporate Governance, Section 37. Customers, Section 39. Health Safety, Section 40. Environment page 22 Policy on Non-Smoking
	b.	Elaborates its efforts to interact with the communities in which they operate?	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 ?	Manual of Corporate Governance Section 40 Environment friendly Policy on Environmental Management Program
2.	Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies?
	a.	Customer health and safety	2018 Annual Report pages 38-39 - Employees Welfare / Maintenance and Security of Building Facilities, Utilities and Premises ENERNEA July-September 2018, page 5, paragraph 3 - A Workplace Safety and Wellness Program was held on August 23 and 24
	b.	Interaction with the communities	2018 Annual Report pages 26-29 ENERNEA Jan-March 2018, page 1 - NEA, ECs vow completion of rural electrification projects by 2022 ENERNEA Jan-March 2018, page 5 - NEA Backs Up NPC in Enforcing Data Privacy Act, Data Privacy Summit held ENERNEA April-June 2018, page 5 - NEA convenes EC frontliners, urges them to aim for responsive service ENERNEA July-September 2018, page 3 - NEA and DICT inked MOU to provide high-speed internet service to rural areas ENERNEA July-September 2018, page 5, article on - "Use electricity to educate yourselves not just for entertainment" ENERNEA Oct-Dec 2018, page 8 - article on - "NEA to ComVal and Davao del Norte electricity consumers: Pay your bills to legitimate Daneco" ENERNEA Oct-Dec 2018, page 1 - NEA reaffirms commitment to total electrification ENERNEA Vol XV, No. 1 page 7 (articles on #Saving Boracay: Akelco says Waste to Energy management facility might be the key) ENERNEA Vol XV, No. 2 page 7 (articles on NEA and Romelco break ground 900 Kw Wind Turbine Project) ENERNEA Vol XV, No. 3 page 5 (articles on 9th NEAM and 49th NEA Anniversary which included the holding of the Nationwide Tree Planting and Line Clearing Activities) ENERNEA Vol XV, No. 3 page 8 (articles on NEA eyes solar PV to accelerate rural electrification) ENERNEA Vol XV, No. 4 page 3 (articles on NEA Toshiba sign MoU on hydrogen energy system development) ENERNEA Vol XV, No. 4 page 8 (articles on NEA, ECs mobilized task forces to restore power in typhoon-ravaged provinces in North Luzon)
	c.	Environmentally-friendly value chain	2018 Annual Report pages 28-29 ENERNEA Jan-March 2018, page 7 - #SavingBoracay: Akelco says waste-to-energy facility might be the key ENERNEA July-September 2018, page 5, paragraph 8 - Tree-planting activity was undertaken
3.	Does the GOCC have a separate corporate social responsibility (CSR) report/section or sustainability report/section?		NEA website has separate CSR Section
4.	Where stakeholder interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights.		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?	Manual of Corporate Governance Section 39. Health and Safety page 22 Best Practices in Environmental Management Program 2018 Annual Report pages 38-39 - Employees Welfare / Maintenance and Security of Building Facilities, Utilities and Premises
	b.	Does the GOCC publish data relating to health, safety and welfare of its employees?	Best Practices in Environmental Management Program 2018 Annual Report pages 38-39 - Employees Welfare / Maintenance and Security of Building Facilities, Utilities and Premises
	c.	Does the GOCC have training and development programmes for its employees?	2018 Comprehensive Training Plan (NEA-EC Training Institute) 2018 Annual Report page 33
	d.	Does the GOCC publish data on training and development programs for its employees?	2018 Training Accomplishment (NEA-EC Training Institute) 2018 Annual Report page 33
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?	Transparency Seal - Whistleblowing Program and Complaint Policy 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 pag e 4 on Protected Activities 2018 Annual Report pages 10-11
II. Disclosure and Transparency (35%)
7.	Quality of Annual Report Does the GOCC's annual report disclose the following items:
	a.	Corporate objectives	2018 Annual Report page 7
	b.	Financial performance indicators	2018 Annual Report pages 20-21
	c.	Non-financial performance indicators	2018 Annual Report pages 22-41
	d.	Details of whistle-blowing policy	2018 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	2018 Annual Report page 12-13
	f.	Training and/or continuing education programme attended by each director/commissioner	2018 Annual Report page 12-13
8.	Are the Annual Reports downloadable from the GOCC's website?		YES. 2018 Annual Report can be downloaded at the NEA Website
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?	2018 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 - 2018 Audited Financial Statements - Date Rec'd by the NEA June 11, 2019; Date uploaded July 1, 2019 (14 Days)
	b.	Is the annual report released within 90 days from release of audited financial report?	Transparency Seal - Annual Report 2018 - Date Rec'd by the NEA June 11, 2019; Date Released on Aug. 5, 2019 (39 days)
	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?	2018 Annual Report page 9 and page 17
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?	BOA Resolutions No. 62 2018 Annual Report, page 7-8 - Updated Charter Statement and Strategy Map 2018 Annual Report page 32
	b.	Does the Board of Directors monitor/oversee the implementation of the corporate strategy?	BOA Resolution No. 63 and 64 Manual of Corporate Governance Section 8.c - page 5 Policy on Board Governance page 2, Items 1 and 2 2018 Annual Report page 32
12.	Did the GOCC achieve 90% in the PES?		YES. Corporate Governance/GCG requirements/Performance Scorecard - Performance Evaluation System - Report 2018
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 ADVISORIES: HRAD Advisory - SALN HRAD Advisory - Code of Ethics Designating NEA Citizen's Charter Team Seminar on Finding and Living the Core Values
14.	Does the Board appoint a Nomination and Compensation/ Remuneration Committee?		Yes. Composition of the NEA Board Committees - Resolution No.71 and No.148
15.	Did the Nomination and Compensation/Remuneration Committee meet at least twice during the year?		BOA Attendance Record 2018
16.	If yes, is the report of the Nomination and Compensation/ Remuneration Committee publicly disclosed?		BOA Activities and Resolutions (2018 BGNRC)
17.	Does the Board appoint an Audit Committee?		Yes. Composition of the NEA Board Committees- Resolution No.71 and No.148
18.	If yes, is the report of the Audit Committee publicly disclosed?		BOA Activities and Resolutions (2018 BAC)
19.	Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?		BOA Profiles
20.	Did the Audit Committee meet at least four times during the year?		BOA Attendance Record 2018
21.	Does the Board appoint a Risk Management Committee?		Yes. Composition of the NEA Board Committees - Resolution No.71 and No.148
22.	If yes, is the report on Risk Management Committee publicly disclosed?		BOA Activities and Resolutions (2018 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)	BOA Activities and Resolutions (2018 Board) Policy on Board Governance page 2, Items 1 and 2 NEA Website Link: http://nea.gov.ph/ao39/about-us/officials/board-of-administrators
	b.	Does the Board of Directors meet at least monthly?	BOA Attendance Record 2018
	c.	Did the Board of Directors meet on at least 75% on their scheduled meetings?	BOA Attendance Record 2018
	d.	Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?	BOA Attendance Record 2018
	e.	Did the Board of Directors meet separately at least once during the year without the President/CEO present?	BOA Attendance Record 2018
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 2018 (Atty. Alexander Paul T. Rivera 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
	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?	2018 Annual Report page 9
	c.	Does the company disclose how key risks are managed?	Risk Oversight
	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?	2018 Annual Report page 9
28.	Board Chairman
		Do different persons assume the roles of Chairman and CEO?	(Chairman: Secretary Alfonso G. Cusi, CEO: Administrator Edgardo R. Masongsong) 2018 Annual Report - board of Administrators/Administrator pages 12 and 13
29.	Board of Directors Development
	a.	Does the GOCC have orientation programmes for new Directors?	NEA Website Link: http://nea.gov.ph/ao39/about-us/officials/board-of-administrators
	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 NEA Website Link: http://nea.gov.ph/ao39/about-us/officials/board-of-administrators
	c.	Did all Appointive Directors attend at least 1 training for the calendar year?	NEA Website Link: http://nea.gov.ph/ao39/about-us/officials/board-of-administrators 2018 Annual Report page 12-13
30.	Board Appraisal
	a.	Is an annual performance assessment conducted of the Board of Directors?	NEA Website Link: http://nea.gov.ph/ao39/about-us/officials/board-of-administrators Manual of Good Governance - Section 16
	b.	Does the GOCC disclose the process followed in conducting the Board assessment?	NEA Website Link: http://nea.gov.ph/ao39/about-us/officials/board-of-administrators Manual of Good Governance - Section 16 page 13
	c.	Does the GOCC disclose the criteria used in the Board assessment?	NEA Website Link: http://nea.gov.ph/ao39/about-us/officials/board-of-administrators Manual of Good Governance - Section 17 page 14
31.	Committee Appraisal
		Is an annual performance assessment conducted of the Board of Directors Committees?	NEA Website Link: http://nea.gov.ph/ao39/about-us/officials/board-of-administrators 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 - 2018 Audited Financial Statements (date rec'd. by NEA from COA: June 11, 2019, Uploaded on July 1, 2019)
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