The Department of Finance (DOF), the Governance Commission for Government-Owned and Controlled Corporations (GCG), and the Department of Budget and Management (DBM) signed a tripartite memorandum of agreement (MOA) on Nov. 12, 2025 to establish robust data-sharing protocols aimed at enhancing the monitoring of government-owned and controlled corporations (GOCCs) financial performance.
The agreement, known as the Enhanced Integrated Corporate Reporting System (ICRS), is designed to ensure GOCCs continue to efficiently provide vital public services to Filipinos by strengthening oversight and accountability.
“This collaboration strengthens our ability to hold GOCCs accountable, streamline oversight, and ultimately enhance the delivery of public services that Filipinos rely on,” said Finance Secretary Ralph Recto.
The enhanced ICRS consolidates key data from GOCCs under the jurisdiction of the DOF, DBM and GCG. Under the MOA, all GOCCs should adopt standardized reporting templates and formats to create consistent and high-quality data for monitoring, planning, and decision-making.
They are also required to submit business plans approved by their respective Governing Boards, which will serve as the foundation for performance tracking, risk identification and optimizing operations under the Enhanced ICRS.
The initiative is supported by the Asian Development Bank (ADB) through technical assistance under the Second Disaster Resilience Improvement Program (DRIP 2), which provided policy guidance and technical advice to design a common monitoring approach for GOCCs. Workshops and inter-agency consultations were conducted to ensure a comprehensive and coordinated implementation framework.
