Pilipinas Shell Petroleum Corporation recently secured the highest possible conformance rating awarded by External Quality Assurance Reviewers (EQAR) for the professional practice of Internal Audit. The Review was conducted by independent assessors from Punongbayan& Araullo (P&A), a member firm of Grant Thornton.
Pilipinas Shell’s Corporate Assurance & Audit Department (CAAD) received this prestigious award after a thorough in-depth review of its charter, methodology, practices, and more importantly its impact and value added to its key stakeholders — particularly the PSPC Board and Senior Management.
Pilipinas Shell President and CEO, Lorelie Quiambao-Osial expressed her appreciation, saying that “… it serves as another testament of Pilipinas Shell’s commitment to nation-building by holding itself to the highest of standards.” She thanked the company’s CAAD team, headed by Mark J. Nicdao, PSPC’s Chief Audit Executive, for their “hard work, resilience, and agility” as well as P&A for “their independent, objective and honest assessment.”
The external auditors’ assessment is an integral part of a company’s journey in maintaining product quality, operational standards, and consumer trust. It recognizes that an organization’s compliance with guidelines shows its commitment to higher standards and to customer centricity. It provides keen insight into how the company can improve the efficacy of its operations, evaluate and mitigate its risks, and further future proof is business.
