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SGV Global Compliance and Reporting (GCR) Partner and Philippine Institute of Certified Public Accountants (PICPA) Metro Manila Professional Development Committee Chair Maricris U. See (MUS), with the assistance of GCR Associate Directors Jao Renzo L. Mercado and Clarissa Cristelle S. Chua, headed the four-part PICPA National Qualifications Framework Summit held virtually via Zoom from 16 to 18 March 2023. The Summit aimed to provide knowledge and appreciation of the Philippine Qualifications Framework (PQF) in the context of the four accountancy practice areas: Public Practice, Commerce and Industry Practice, Government Practice, and Education Practice. Maricris moderates the Summit open forum Each part of the Summit included a discussion by a resource speaker and an open forum headed by a moderator and several reactors. Maricris started the Summit by delivering the welcome remarks. SGV GCR Associate Director Clarissa Cristelle S. Chua then administered the oath of CPAs. SGV Audit Partner and Co-Chair of the PICPA Professional Development Committee Shane Dave D. Tanguin (SDT) was the resource speaker for the first part of the Summit, which focused on PQF in the purview of Public Practice. He highlighted the key concepts of PQF and the impact it has on accountants in public practice.  SGV GCR Partner and President of the PICPA Eastern Metro Manila Chapter Michael A. Madlangbayan led the oathtaking of CPAs for the second part of the Summit, which focused on PQF for accountants in Commerce and Industry. GCR Associate Director Jao Renzo L. Mercado and GCR Senior Director Marivic M. Rebulanan served as the Masters of Ceremonies for the third (Government Practice) and fourth (Education Practice) parts of the Summit, respectively. Maricris also introduced the resource speaker and reactors for the last part of the Summit and served as the moderator in the open forum. Shane concluded the event by presenting a certificate of appreciation to the resource speaker, reactors, and moderator. The Summit helped participants gain a deeper understanding of the concepts of PQF and learn the possible steps of a practitioner in achieving the highest level of qualification in the respective sectors. 

SGV Chairman and Country Managing Partner Wilson P. Tan (WPT), SGV Davao Partner-In-Charge and Assurance Partner Jose Raoul J. Balisalisa (JJB), and Tax Partners Saha A. Bulagsak (SAB) and Thyrza F. Marbas (TFM) joined the 4th General Membership Meeting of the Davao City Chamber of Commerce and Industry, Inc. (DCCCII) on 31 March 2023 held at the Acacia Hotel, Davao City. More than 50 members and guests of the Chamber joined the event. Wilson talks about the collaboration between DCCCII and FINEX Raoul introduces new members of the DCCCII Saha and Thyrza with DCCCII President John Tria and Vice President Cherrylin Casuga and BIR Representatives During the meeting, Wilson talked about the collaboration between DCCCII and the Financial Executives Institute of the Philippines (FINEX) in his capacity as the latter’s President. He also provided updates on upcoming FINEX activities and gave suggestions on how the DCCCII and FINEX can further collaborate on other projects. Raoul, who also serves as the Corporate Secretary of DCCCII, introduced the new members of the Chamber. Saha and Thyrza together with representatives from the Bureau of Internal Revenue (BIR) provided tax updates and reminders for the 2023 tax season. 

The Philippine Amusement and Gaming Corporation (PAGCOR) has accredited SGV and SGV Financial Services Organization (FSO) Partner Veronica Arce Balisi (VAB) to conduct Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) training sessions for the casino sector.  SGV is the first local professional services firm accredited by PAGCOR as an Institutional Training Provider (ITP) and Veronica is the first SGV Partner accredited by PAGCOR as an Accredited Trainer. SGV has relevant experience in anti-money laundering (AML) and counter terrorist and proliferation financing (CTPF) engagements such as policy gap analysis, independent assessments of the AML/CTPF process, transaction monitoring scenarios tuning, institutional risk assessment (IRA), know-your-customer (KYC)/customer due diligence (CDD)/enhanced due diligence (EDD) remediation, and AML/CTPF training. 

SGV Climate Change and Sustainability Services (CCaSS) Senior Director Crystal Aleli Cornell and Associate Director Rosheena Borlaza were resource speakers at the Junior Philippine Institute of Accountants (JPIA) Far Eastern University (FEU) Alabang summit titled “What’s the Logo?” on 28 February 2023. The webinar focused on sustainability reporting topics.  Crystal and Sheena during the Q&A portion Crystal talked about creating long-term value with sustainability and developments in sustainability reporting and contents of the report. She emphasized the long-term value generated by sustainability reporting and the important factors to be considered in preparing sustainability reports. She also laid out a sample roadmap which contains a step-by-step process for preparing sustainability reports.  Sheena’s discussion focused on the sustainability landscape in the Philippines and the role of accountants in sustainability reporting. She highlighted the regulatory developments in the Philippines and shared an excerpt from the ‘Beyond the Bottom Line: Sustainability Reporting in the Philippines’ publication issued by SGV in 2021. She ended her talk by sharing insights about the crucial role of the accounting profession in sustainability efforts. The webinar concluded with polling questions on sustainability and a question-and-answer session between the resource speakers and the audience. CCaSS Team members Ma. Angelica Videña, Marsha Batusbatusan, and Robert Revilla assisted in preparing the materials for the webinar.

SGV Clark Partner-in-Charge and Head Atty. Margaux A. Advincula (MAA) was appointed the American Chamber of Commerce (AmCham) North Luzon Financial Services, Taxes & Tariffs Committee 2023 Chairperson on 13 March 2023.  Margaux (center) with Vice President of AmCham North Luzon Krizia Chu-Tranquilino (left) and AmCham North Luzon President Goeran Soelter (right) Margaux with AmCham Executive Director Ebb Hinchliffe, guest speaker U.S. Embassy in the Philippines Senior Commercial Officer Paul Taylor, and other AmCham North Luzon members Margaux has been a member of AmCham North Luzon for three years, and as the new Chairperson of the Financial Services, Taxes & Tariffs Committee for the year 2023, she will continue to support the Chamber in its initiatives related to current issues and/or policy changes in the tax system in the Philippines, particularly those affecting Northern Luzon. Congratulations, Margaux!

The SGV Glee Club performed two songs at the grand celebration of the Centenary of the Accountancy Profession in the Philippines held at the Grand Ballroom of the Manila Hotel on 17 March 2023. The Firm’s official choral group sang “Look at the World” for the opening prayer and the National Anthem of the Philippines, “Lupang Hinirang.” Ma. Rhina Paula Palma-Cruz served as the choir’s conductor.  SGV Glee Club sings the Philippine National Anthem The Centenary Year celebration of the Accountancy Profession in the Philippines with the theme “Celebrating the Past. Transforming the Present. Shaping the Future.” was held to honor the enduring legacy and relevance of the accountancy profession in the country. During the event, 45 SGV Certified Public Accountants (CPAs), including former leaders and alumni were among the country’s 100 CPAs who were conferred the Accountancy Centenary Award of Excellence by the Professional Regulation Commission’s Board of Accountancy (BOA). The celebration was organized by the Professional Regulatory Board of Accountancy in partnership with the Philippine Institute of Certified Public Accountants (PICPA) and in cooperation with the Association of Certified Public Accountants in Commerce and Industry (ACPACI), the Association of Certified Public Accountants in Public Practice (ACPAPP), the Government Association of Certified Public Accountants (GACPA), and the National Association of Certified Public Accountants in Education (nACPAE).

SGV Chairman and Managing Partner Wilson P. Tan (WPT), SGV Professional Practice Director and Assurance Partner and Chief Risk Officer Lucy L. Chan (LLC) paid a courtesy call on Securities and Exchange Commission (SEC) Philippines Chair Emilio B. Aquino and SEC General Accountant Emmanuel Y. Artiza on 7 March 2023.   Lucy and Wilson with SEC Chair Aquino, SEC General Accountant Artiza and SEC Assistant Director Preciados They discussed recent significant developments in accountancy and regulation and opportunities for enhanced cooperation for the benefit of stakeholders. The matters discussed were considered especially timely in light of the upcoming plenary meeting of the International Forum of Independent Audit Regulators (IFIAR) in Washington, D.C., which the SEC officials are expected to attend.  Also present at the meeting was Guada May Preciados, Assistant Director at the Office of the General Accountant and Inspection Team Leader in the SEC’s Oversight Assurance Review (SOAR) program.

SGV Global Compliance and Reporting (GCR) Partner Hentje Leo L. Leaño (LLL) was the resource speaker at the Philippine Institute of Certified Public Accountants (PICPA) Nueva Ecija Chapter seminar on tax updates during the Chapter’s general membership meeting on 9 April 2023 at the M Palm Event Center in La Torre, Talavera, Nueva Ecija. More than 100 Certified Public Accountants (CPAs) from different industries attended the meeting. Leo receives plaque of appreciation Leo discussed recent tax updates from decisions of the Court of Tax Appeals (CTA) and Supreme Court (SC) as well as recent issuances of the Bureau of Internal Revenue (BIR). The seminar concluded with the awarding of a plaque of appreciation to Leo by Association of CPAs in Commerce and Industry (ACPACI) National President Anna Lissa Chua-Dycaico, PICPA Nueva Ecija Chapter President Aileen Fae M. Africa, and Ex-Officio President Ronald Leabres. SGV GCR Associate Director David Jonathan F. Manalili was also present during the event.

SGV Financial Services Organization (FSO) Partner Veronica Mae Arce Balisi (VAB) was a resource speaker at the Philippine Institute of Certified Public Accountants (PICPA) Quezon Province Chapter Anti-Money Laundering (AML) and Counter Terrorist and Proliferation Financing (CTPF) technical training held on 10 March 2023 via Zoom. FSO Associate Director Juan Paolo Gaco together with Associates Rubin Hollero II and Coleen Mae Panuela acted as facilitator and presenters at the training.  Event poster Veronica (top left) with the training participants Veronica gave an overview of money laundering and terrorist and proliferation financing. She also discussed recent regulatory updates on AML/CTPF, sample typologies and actual cases relevant to the industry, and preventive measures of covered persons/institutions for accountants and accounting firms. VAB wrapped up the training session with a message on accountants playing a vital role in combating money laundering. 

SGV Partners led by Chairman and Managing Partner Wilson P. Tan (WPT) were resource speakers, organizers, and participants in the Filipino-Chinese General Chamber of Commerce, Inc. (FCGCCI) tax briefing on 14 March 2023 at the Centennial Hall, Manila Hotel. More than 500 persons attended the tax briefing, which aimed to give updates on the latest developments in the Philippine tax landscape and their potential impact on businesses. SGV Partners with FCGCCI members Wilson and FCGCCI President Ramon Chuaying delivered the opening remarks. For the technical sessions, SGV Partners Maricris U. See (MUS), Michael A. Madlangbayan (MAM), Jonathan T. Bino (JTB), Cheryl Edeline C. Ong (CCO), and Arlyn A. Sarmiento-Sy (AAS) identified trends and gave updates and reminders on annual income tax filing and other reportorial requirements, other tax filings/updates on tax issuances, SEC issuances and circulars, Philippine incentives and trends in BIR audits, the Electronic Invoicing/Reporting System (EIS), and customs audits and importer accreditation, respectively. Tax Leader Fabian K. delos Santos (FKS) talked about pending legislation related to tax and its potential impact on businesses. Vice Chairman and Deputy Managing Partner Maria Vivian C. Ruiz (VCR), Assurance Leader Martin C. Guantes (MCG), Market Group 3 Leader Henry M. Tan (HMT), Assurance Partner Albert R. Bon (ARB), Tax Partner Karen Kaye M. Sta. Maria-Constantino (KMC), and Alumni Partner Luis Jose P. Ferrer (LPF) also attended the tax briefing. Henry and Michael organized the event while FCGCCI Member Roger Lim and Luis helped them coordinate with the Chamber. Global Compliance and Reporting (GCR) Manager Jed Marten R. Agbuya moderated the open forum.