Interior wall panel repairs

I ordered and received from FR enough matching wall panel material to repair the bathroom wall area where I removed the sink, as well as to cover access areas I may have to cover after making some contemplated mods.  The panel material, as I should have expected, has exposed plywood edges.  How do most of you treat these edges on an installed piece of the panel?  I assume in the bathroom I should seal with a silicon caulk, making sure that all of the exposed edges are completely sealed. I will be using a clear silicon caulk around the interior perimeter of the patch before screwing it into place.  Outside the bathroom, I am not sure what to use around new access panels, if anything. 
Comments?