CITY OF SAN FERNANDO---The Securities and Exchange Commission (SEC) has collaborated with the Department of Agrarian Reform (DAR) in training some 18 Agrarian Reform Beneficiaries Organizations (ARBOs) in Bataan with digital skills for the online submission of their annual reports.
The SEC said it is important to equip farmers' associations with digital tools and online reporting skills to ensure their compliance with corporate laws.
The program is also expected to allow the farmers safeguard their SEC registration from potential suspension or revocation due to non-compliance, the agency said.
"We, together with the DAR Bataan Provincial Office, aim to support the organizational development of their agricultural associations while fostering a culture of good corporate governance,” said SEC Tarlac Extension Office Director Richard Laus.
The digital platform set by the SEC will streamline the reporting processes of ARBOs.
This will enable more effective communication with stakeholders and enhancing the credibility and sustainability of their organizations.
By fully complying with the SEC’s annual reportorial requirements, farmers' organizations gain enhanced visibility into their financial and organizational performance with informed decision-making and strategic planning.
The digitalization of corporate reporting by the SEC also facilitates real-time data analysis, providing more timely insights and interventions to tackle emerging challenges in the corporate sector.
The ARBOs were trained on navigating the SEC’s online reporting platform through the Electronic Filing and Submission Tool or EFAST portal, preparing financial statements, documenting operational activities in the General Information Sheet, and ensuring compliance with regulatory requirements of the commission.