Disclosure and Transparency

Disclosure and Transparency

We are committed to the highest standards of disclosure, transparency, and fairness in information dissemination. We provide the public with strategic, operating and financial information through adequate and timely disclosure filing submitted to the regulatory authorities such as SEC, PSE, and Philippine Dealing and Exchange Corporation (PDex). Along with regular periodic reports, we disclose any and all material information about the Company that may have an impact on the Company’s valuation, and therefore its stock price, and the trading volume of its securities.

All disclosures are immediately posted on our Investor Relations website and may be accessed through the following link:

ALI Disclosures

 

Transparent Ownership Structure

We regularly disclose the top 100 holders of our common and preferred shares, the security ownership of beneficial owners having more than five percent of the Company’s total outstanding stock, and the shareholdings of members of the Board of Directors and key management officers in the Company. These are submitted to the SEC, PSE and PDEx and made available to the general public on a quarterly basis through postings on our Investor Relations website and annually in the Definitive Information Statement sent to our shareholders. The details of the parent or holding company, subsidiaries, associates, joint ventures and special purpose enterprises/vehicles (SPEs)/(SPVs) are also regularly included in the quarter financial reports (17-Q) disclosed by the Company to the SEC, PSE, PDEx and the IR website. We also disclose the percentage of foreign ownership in the Company on a monthly basis.  We continue to strictly implement guidelines covering securities dealings to comply with existing government regulations.

For information on the effective ownership of Ayala Land to its subsidiaries and affiliates, click on the link below:

Ayala Land subsidiaries and affiiliates

 

Directors Dealings in Shares of the Company

All directors and officers are required to disclose their transactions in shares of the Company within three trading days from the date of the transaction. The information is available on the disclosures section of this website.

 

External Quality Assurance Review

Internal Auditing Standard 1312 of the Institute of Internal Auditors (IIA) requires that external assessments of the internal audit function be conducted by a qualified independent reviewer or review team from outside the Company at least once every five years. An external assessment opinion by Punongbayan&Araullo (P&A), a member firm within Grant Thornton International Ltd. in 2012 concluded that the Company’s internal audit activities generally conform to the International Standards for the Professional Practice of Internal Auditing (ISPPIA) as issued by the Institute of Internal Auditors (IIA).

Aside from compliance with IIA’s International Professional Practices Framework which includes the definition of Internal Auditing, the ISPPIA and the Code of Ethics, the External Quality Assurance Review covered the assessment of Internal Audit’s compliance with its charter, plans, policies, procedures, practices, and applicable legislative and regulatory requirements;expectations of the Internal Audit as expressed by stakeholders (includes the Board of Directors and Audit Committee, Senior Management and internal audit clients); integration of the Internal Audit into the organization’s governance process, including the attendant relationships between and among the key groups involved in that process; tools and techniques employed by the Internal Audit; mix of knowledge, experience, and disciplines within the staff, including staff focus on process improvement; and areas on which the Internal Audit is able to add value to help improve the organization’s operations.

 

Independent Public Accountants

The principal accountant and external auditor of the Company is the accounting firm of SGV, with Ms. Jessie D. Cabaluna as the Partner-in-Charge for the 2015 audit year.

 

Financial Reporting

The consolidated financial statements of the Group have been prepared in compliance with Philippine Financial Reporting Standards (PFRS). The accounting policies adopted in 2015 are consistent with those of the previous financial year, except for the implementation of new and amended PFRS which became effective January 1, 2016.