The project will (i) strengthen the institutional capacity of the Philippine Competition Commission (PCC) to foster competition, (ii) establish a cross-government staff development program for competition policy, and (iii) ensure the sustainability of the reforms by establishing an academic center of excellence in competition policy and law.

1. Through research and stakeholder consultations (site visits), analyze and identify the necessary conditions and requirements for the application of IFRS by listed companies; a) Are current finance policies consistent with IFRS and if not, how will the scope of finance policies need to be changed to support adoption of IFRS by publicly listed companies. b) Are current information technology systems and internal corporate governance systems (e.g. financial risk management and business systems) sufficient to support the adoption of IFRS and to the extent they are not, how should they be changed to support adoption of IFRS by publicly listed companies. c) Assess the level of development in the operating markets (such as the capital market, financial market, commodity trading market, etc.) and identify how current price discovery can support the application of regulations on fair value, effective interest rate, impairment of assets, and so forth...............