18 Bataan farmers’ orgs undergo SEC training for online reporting
In a strategic move to cultivate a healthy and vibrant corporate sector in the countryside, the Securities and Exchange Commission- Tarlac Extension Office (SEC-TAREO) in partnership with the Department of Agrarian Reform (DAR) has embarked on a collaborative initiative to train agrarian reform beneficiaries’ organizations (ARBOs) in the province of Bataan on the online submission of their annual reportorial requirements held on March 8 in Abucay, Bataan.
18 ARBOs participated in the training program covering a range of topics, including 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.
“Empowering farmers’ associations with digital tools and skills in online reporting is crucial in maintaining their good standing and existence as registered corporations and protecting their organizations from suspension or revocation of their SEC registration due to non-compliance with existing corporate laws,” stated Atty. Richard R. Laus, Director of the SEC-TAREO.
“Through this collaborative effort with our campaign partner- the DAR Bataan Provincial Office, we aim to support the organizational development of their agricultural associations while fostering a culture of good corporate governance,” Laus added.
Led by experienced trainers from the SEC-TAREO and supported by online resources, the training sessions were designed to cater to the diverse needs and capacities of the participating farmers’ groups in Bataan. They were equipped with the necessary skills in the preparation of their SEC reports, and in the enrollment of their corporate accounts and uploading of their reports to the EFAST portal.
“We welcome this joint initiative with the SEC in providing trainings for our farmers on the online filing of their annual reports,” expressed Norma S. Evangelista, OIC-Chief of the Program Beneficiaries Development Division of DAR Bataan.
“This digital platform set by the SEC will streamline the reporting processes of our ARBOs and will enable them to communicate more effectively with their stakeholders and ultimately enhance the credibility and sustainability of their organizations,” she added.
In addition to improving efficiency and transparency, full compliance with SEC’s annual reportorial requirements offers farmers’ organizations greater visibility into their financial and organizational performance, facilitating informed decision-making and strategic planning.
Moreover, the digitalization of corporate reporting of the SEC enables real-time data analysis, allowing for more timely insights and interventions to address emerging challenges in the corporate sector.