Philex Mining Corporations external auditor is SyCip Gorres Velayo & Co (SGV & Co) with office address at the SGV Building, Ayala Avenue, Makati City.
The external auditor is responsible for the proper audit and review of the company’s financial statements. It is selected based on competence, performance, and independence, and is determined via fair and transparent process.
The external auditor reports to the Audit Committee, which has the direct responsibility for the appointment, setting of compensation, retention, removal, and oversight of the work of the external auditor in a manner consistent with applicable laws, regulations, and valid corporate practices. The fees and scope of engagement for audit and non-audit services are periodically reviewed by the Audit Committee. The external auditor or its lead audit partner is primarily responsible for the audit or review of the company’s financial accounts, and is rotated at least once every five (5) years.