Globe assures stakeholders of transparent financial reporting

Globe Telecom Inc. assured stakeholders that “integrity, accountability and transparency” are being upheld in its financial reporting standards.

“Globe is committed to best practices in corporate governance to deliver continuous value for our customers, employees, and stakeholders. Good corporate governance is central in the way we do business and serves as our North Star in making business decisions,” Globe chief finance officer, treasurer and chief risk officer Rizza Maniego-Eala said in a statement on Tuesday.

The statement was issued following the recent announcement of its rival PLDT Inc.’s P48-billion capital expenditure budget overrun.

The Ayala-led company said they maintain an audit and related party transactions committee to ensure credibility in internal controls, material related party transactions and key corporate governance matters.

On Friday, PLDT disclosed that it had uncovered a P48-billion “budget overrun” incurred over the last four years. The Pangilinan-led company is now investigating the matter.