ETHICS COM PARTICIPATES THE FORMULATION OF THE CODE OF GOVERNANCE AND ETHICAL STANDARDS
The Ethics Committee Chairperson, Mrs. Merlinda Ogang, Vice-Chair Esmeralda Lumayag and the Vice-Chairman of the Board of Directors, Mr. George P. Lumayag of Casay Seaside Multi-purpose Cooperative (CSMPC) participated in the seminar-workshop on the Formulation of the Code of Governance and Ethical Standards, held at Crown Regency Hotel and Residences, Guadalupe, Cebu City on September 19-20, 2015.
The resource person of said seminar, Atty. Fernando Teodulo Ortigoza III brilliantly discussed the importance of the Code in the cooperatives and its legal basis as stipulated in Rule 7, Section 4, (4.7) of the IMPLEMENTING RULES AND REGULATIONS (IRR) of R.A. 9520. He clearly discussed the duties and responsibilities of the Ethics Committee as stated in the following:
(a) Develop Code of Governance and Ethical Standards to be observed by the members, officers and employees of the cooperative subject to the approval of the Board of Directors and ratification of the General/Representative Assembly; (b) Disseminate, promote and implement the approved Code of Governance and Ethical standards; (c) Monitor compliance with the Code of Governance and Ethical Standards and recommend to the Board of Directors measures to address the gap, if any; (d) Conduct initial investigation or inquiry upon receipt of a complaint involving Code of Governance and Ethical Standards and submit report to the Board of Directors together with the appropriate sanctions. (e) Recommend ethical rules and policy to the Board of Directors; (f) Perform such other functions as may be prescribed in the By-laws or authorized by the General/Representative Assembly.
Atty. Ortigoza III further informed the participants from different cooperatives that failure to formulate the Code shall be a ground for the Cooperative Development Authority (CDA) to suspend the cooperatives’ Certificate of Good Standing (CGS). The legal basis of said training is stipulated in Article 44 which states “Functions, Responsibilities and Training Requirements of Directors, Officers and Committee Members. The functions and responsibilities of directors, officers and committee members, as well as their training requirements, shall be in accordance with the rules and regulations issued by the Authority”.
And Atty. Ortigoza III did inform the participating cooperatives that the purpose of the training is to help the cooperatives to formulate its Code of Governance and Ethical Standards to be done by the Ethics Committee.