The Integrated Corporate Reporting System (ICRS) is created to serve as the central source of relevant information on GOCCs not only for GCG but also for various concerned agencies, the media, and the general public.
Pursuant to the “GOCC Governance Act of 2011” (R.A. No. 10149), the ICRS is a web-based platform that is intended to:
a.) Assist the State in the exercise of its ownership rights in the GOCC Sector through the provision of up-to-date, complete and relevant information;
b.) Streamline the various reportorial requirements for GOCCs; and
c.) Promote greater transparency and timely access to relevant information on the GOCC Sector through a single online web portal.
The ICRS is intended to enhance the transparency and disclosure policies under R.A. No. 10149 on the operations, finances, and management of GOCCs, while amplifying the Governance Commission’s regulatory capacity through the use of business analytics technology.
The ICRS also serves to simplify various reportorial requirements of the GOCCs.
The GOCC Monitoring System or the GMS is one of component of the Integrated Corporate Reporting System (ICRS). The GMS caters the electronic submission of financial information of GOCCs, such as but not limited to financial statements and corporate operating budgets.
The GCG Memorandum Circular No. 2014-02 and Section 44 of the Code of Corporate Governance for GOCCs (GCG MC No. 2012-07) requires” [e]very GOCC, acting through its Board and Management, [to] ensure that it becomes an active and responsible member and contributor to the ICRS.”
The GOCC Leadership Management System or the GLMS is one of component of the Integrated Corporate Reporting System (ICRS). The GLMS caters the electronic submission non-financial information regarding the GOCC’s profile, such as but not limited to the latest version of the charter, performance scorecards, and organizational structures. It also includes information on incumbent Appointive Directors.
The GCG Memorandum Circular No. 2014-02 and Section 44 of the Code of Corporate Governance for GOCCs (GCG MC No. 2012-07) requires “[e]very GOCC, acting through its Board and Management, [to] ensure that it becomes an active and responsible member and contributor to the ICRS.”