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SGV Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) and CCaSS Director Diana A. Sadili-Chu participated in a two-day workshop entitled “Sustainability Reporting with a Gender Lens” from 13 to 14 September 2022. The workshop provided participants an opportunity to learn more about sustainability reporting, especially its relevance in gender equality and women empowerment in today’s business setting.  Workshop group photo for Day 1  Workshop group photo for Day 2 The workshop was organized by the Philippine Women’s Economic Network (PhilWEN), the Philippine Business Coalition for Women Empowerment (PBCWE), and the UN Women Asia and the Pacific's WeEmpowerAsia Programme.

SGV Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) served as a panelist at the Extended Producer Responsibility (EPR) workshop organized by the American Chamber of Commerce of the Philippines (AmCham Philippines) on 16 September 2022 at the AmCham office in Makati City. The workshop aimed to answer the question: What does it mean to comply and how can obliged companies do so? From L-R: Atty. Mimi Malvar of P&G, Benjamin Villacorte of SGV CCaSS, Crispian Lao representing PARMS and the National Solid Waste Management Commission, Ebb Hinchliffe - Executive Director of AmCham, Nanette Medved-Po of HOPE and Plastic Credit Exchange, Jon Alan Cuyno of Geocycle Holcim Philippines, and Atty. Joseph Fabul of Mondelez Philippines The discussion focused on the implementation of the Extended Producer Responsibility Act (RA 11898). which lapsed into law in July 2022. To provide a better understanding of the audit requirements of the Act in particular, Benjamin discussed how companies’ EPR reporting can be audited. He provided insights based on SGV and EY practices as well as insights gained from engagements related to the circular economy.  Benjamin (far left) with the other panelists During the open forum, the audience further inquired about how several brand owners have voluntarily done EPR programs in the past, even prior to the release of the legislation. The attendees also expressed interest in  the possible guidelines to expect ahead of the release of the Act’s implementing rules and regulations (IRR) expected by November this year.

SGV Financial Services Organization (FSO) Partner Veronica Mae Arce Balisi (VAB) conducted an Anti-Money Laundering (AML)/Counter Terrorism and Proliferation Financing (CTPF) training session during the recent Financial Executives Institute of the Philippines (FINEX) Academy Capital Markets and Fixed Income Securities Course. Agents and legal professionals from the securities sector and others preparing for the Securities and Exchange Commission (SEC) certification exam attended the training session. Veronica with the FINEX attendees Veronica kicked off the training by updating the participants on the inclusion of the Philippines in the Financial Action Task Force (FATF) grey list once again. This was followed by an introduction to Money Laundering (ML), and Terrorist Financing (TF) and Proliferation Financing (PF) including concepts of predicate and unlawful activities.  Veronica also discussed recent regulatory updates on AML/CTPF and preventive measures of covered persons/institutions for capital markets and the fixed income securities industry in preventing and combatting financial crimes. The impacts of the Russia-Ukraine war were also discussed including countries’ sanctions on Russia. FSO Associate Rubin Hollero II facilitated quick knowledge check-in polls to assess the participants’ learning progress. This was Veronica’s sixth time conducting an AML/CTPF training session for the FINEX Academy.

SGV Partners and Managers participated in the two-day Joint Sectoral Summit Spotlight on Public Practice conducted by the Philippine Institute of Certified Public Accountants (PICPA) Metro Manila Region, Geographical Area Office and Southern Metro Manila Chapter from 7 to 8 September 2022. The hybrid Summit was held face-to-face at the Century Park Hotel, Manila and virtually via Zoom.  Roundtable discussions The first day of the Summit focused on Quality Assurance Review (QAR) and audit productivity tools including analytical tools. PICPA National Sectoral Director for Public Practice and Assurance Partner John T. Villa (JTV) served as one of the panelists in the QAR roundtable discussion while PICPA Southern Metro Manila Chapter VP for Membership and Assurance Partner Shane Dave Tanguin (SDT) served as the moderator. Assurance Partner Shane Dave Tanguin (leftmost) moderating the roundtable discussion on audit productivity tools including analytical tools SGV Tax Partners Aaron C. Escartin (ACE) and Atty. Thyrza F. Marbas (TFM) were panelists during the second day of the Summit in an in-depth roundtable discussion on BIR-related topics and common issues encountered by taxpayers. This session was moderated by PICPA Joint Sectoral Summit for Public Practice Chair and SGV Tax Partner Maricris U. See (MUS).  SGV Tax Leader Fabian K. delos Santos  receiving a plaque of appreciation from the PICPA officers, including PICPA Joint Sectoral Summit Chair Maricris U. See SGV Tax Leader Fabian K. delos Santos (FKS) also talked about the recent BIR issuances, which include the guidance on tax-free exchanges of properties, guidelines on the filing of requests for confirmation, tax treaty relief applications (TTRAs), and tax sparing applications, as well as the removal of the five-year validity period on receipts/invoices, among others. From top L-R: SGV Partners Thyrza F. Marbas, Maricris U. See,and SGV Associate Director Clarissa S. Chua with BOA and BIR officials The event was organized by PICPA Joint Sectoral Summit for Public Practice Chair and SGV Tax Partner Maricris U. See. She was assisted by SGV Associate Director Clarissa S. Chua and Senior Director Meynard L. Sardalla, who was also the Master of Ceremonies on Day 2. Other SGV Partners present during the event were Tax Partners Sonia D. Segovia (SDS), Atty. Tesi S. Guanzon (TSG) and Michael A. Madlangbayan (MAM). 

SGV Partners Manolito R. Elle (MRE), Mariecris N. Barbaso (MNB), Katrina F. Francisco (KFF), Auresana B. Ines (ABI), and Jan Ray G. Manlapaz (RGM) participated in the IT Business Process Association of the Philippines (IBPAP) International Innovation Summit. Held on 27 to 29 September, the summit had the theme “The Big PH IT-BPM LEAP. Growth. Resurgence. Impact. Transformation.” The first two days of the summit were conducted virtually via Airmeet. The  Partners attended the in-person session and the after-party on 29 September held at the Sofitel Philippine Plaza Manila.  SGV Partners Jan Ray G. Manlapaz, Mariecris N. Barbaso, Katrina F. Francisco, Auresana B. Ines and Manolito R. Elle during the Summit The International Innovation Summit is the premier summit for the innovators, builders and enablers of the Information Technology and Business Process Management (IT-BPM) industry who want to further strengthen the Philippines’ stance as a top investment destination for global services in the world. The Philippines’ IT-BPM sector is one of the country’s best-performing and employment-generating businesses.   SGV Partners Manolito R. Elle, Katrina F. Francisco, Mariecris N. Barbaso, and Auresana B. Ines with IBPAP President & CEO Jack Madrid (second from right) IBPAP is the enabling association and the one-stop advocacy and information gateway for the IT-BPM industry of the Philippines. 

SGV Consulting team members participated in the iGnite: GCash Innovation Summit 2022. The summit was a month-long event with weekly virtual activities and a one-day on-ground culminating event held on 2 September 2022. Activities included immersive talks and webinars, peer-to-peer roundtable discussions, and hands-on labs/workshops. The SGV Consulting team during the summit SGV Consulting Partner Philip B. Casanova (PBC) and Consulting Senior Director Alvin G. Manuel were among the speakers during the culminating event. In their session on Cyber Resilience, Philip and Alvin talked about how organizations can prepare for, respond to, and recover from cyber breaches.  Senior Director Alvin talks about cyber resilience The event aimed to provide a venue for insightful learning and sharing of best practices to encourage creativity and innovation for employees of GCash and its partner organizations. 

EY Asia-Pacific Area Supply Chain Field of Play Leader Atul Chandna and Asean Supply Chain Competency Leader Ishita Dhamani conducted face-to-face Philippine client visits from 24 to 26 August 2022 as part of the Supply Chain Reinvention Series - Thriving for Excellence.  EY APAC Supply Chain leaders with the Client Supply Chain Team and the SGV Supply Chain Consulting Team composed of Partner Jan Ray Manlapaz and Senior Manager Mary Andrea Bacani  Discussions centered on the specific areas of interest or challenges within the clients’ supply chain and respective industries that EY could assist with. The Philippines is the third ASEAN country that Atul and Ishita visited after Vietnam and Thailand.

The SGV Cebu team led by Assurance Partner Margem A. Tagalog was the official tabulator for the Pasigarbo sa Sugbo (“Pride of Cebu”) 2022 Festival Queen and Festival of Festivals held at the Cebu City Sports Center on 26 and 28 August 2022, respectively. These were two of the major events during the 453rd Founding Anniversary of the Province of Cebu. The SGV Cebu team at the Pasigarbo sa Sugbo 2022 The SGV Cebu team led by Ms. Margem was composed of SGV Cebu office Assurance Managers Ian V. Jayme, Frecy M. Catadman, Shearilynn L. Go, Jayvee Anga and Adam M. Opada; Senior Associates Jeyson S. Tugonon, Philip P. Castro and Amabella M. Pacaldo; and Associates Maureen R. Friolo, Jonelene A. Masiado, Jamaica C. Ponce, May B. Velasco, Neca B. Abang and King T. Santiago. The team was also assisted by Senior Manager Richard G. Belda, Manager Haroun D. Cabugatan and Administrative Intermediate Aimee B. Raagas. Official tabulators in action In the spirit of thanksgiving, the office of Governor Gwendolyn Garcia also invited SGV, represented by Market Group 4 Leader Veronica R. Pore, Assurance Partner Margem A. Tagalog, and Assurance Manager Frecy M. Catadman to the “Gabii sa Pasalamat” (Night of Thanksgiving) honoring various stakeholders from the public and private sectors who contributed to the success of Pasigarbo sa Sugbo 2022. Margem receiving token at the Gabii sa Pasalamat The Pasigarbo sa Sugbo events celebrate Cebu Province’s rich and vibrant culture and heritage through the products, customs, history, creativity, and talent of the towns and cities in the province.  A total of 50 contingents representing various provincial towns and cities participated in the Festival of Festivals and, 40 candidates vied for the title of Festival Queen. Token of Appreciation from the Cebu Provincial Government The events are part of the provincial government’s efforts to prime Cebu’s economy after the dent on Cebu’s tourism industry caused by the COVID-19 pandemic and typhoon Odette.

SGV Davao marked the opening of its new office at the Damosa Diamond Tower, Damosa IT Park in Lanang, Davao City with a ribbon-cutting ceremony and cocktails on 14 September 2022. Clients, City Government officials, and SGV leaders attended the event.  SGV Chairman and Managing Partner Wilson P. Tan and Deputy Managing Partner Vivian C. Ruiz with Anflo Group officers Ricky Floirendo (far right), Cary Lagdameo (second from left) and JM Lagdameo (far left) during the ribbon-cutting ceremony The Damosa Diamond Tower is the first structure in Davao to receive an Excellence in Design for Greater Efficiencies (EDGE) certification for its environment-friendly features. The move to the new office is in line with SGV’s carbon-negative agenda and the EY global organization’s goal to achieve net zero emissions by 2025.  EDGE is an international green building certification system created by the International Finance Corporation, a member of the World Bank Group, to provide a measurable and credible solution to prove the business case for building green and to unlock financial investment in such projects. The new SGV Davao office is equipped with a conference space, partners’ lounge, and managers’ and staff areas designed to improve the employee work experience and enhance workforce productivity In his message to guests, SGV Chairman and Managing Partner Wilson P. Tan expressed his appreciation for the opportunity to reconnect with clients and friends following the challenges brought about by the COVID-19 pandemic. He said that the transfer to the newer, larger office was also a necessity due to the tremendous growth in the Davao office’s headcount. SGV’s Davao team has quadrupled since 2011 to accommodate the increasing number of clients and engagement opportunities in the past decade. Special guest Hon. Bernard E. Al-ag, Chairperson of the Committee on Trade, Commerce, and Industry, represented Davao City Mayor Sebastian Duterte. Ricky Floirendo, Vice Chairman of the Anflo Group of Companies; Cary Lagdameo, President of the Real Estate and Construction Group; and JM Lagdameo, Assistant Vice President/GM of Kensington Ventures, Inc. joined the ribbon-cutting ceremony.

SGV International Tax Partner Atty. Margarita D. Mallari-Acaban was a speaker at the Pacific Business Mission to the Philippines investment briefing held at the Philippine Economic Zone Authority (PEZA) office at the DoubleDragon Plaza in Pasay City on 16 August 2022. Atty. Marga at the Pacific Business Mission investment briefing Atty. Marga briefed 20 representatives composed of potential investor corporations from Australia and New Zealand on the services offered by SGV. She explained how the Firm can assist foreign companies with establishing local headquarters as well as complying with local tax, assurance, and advisory requirements. Atty. Marga also joined the panel discussion during the investment briefing. Tax Senior Directors Mira F. Ramirez-Uy and Cecille S. Visto were present during the event to address some of the questions of the participants from the business process outsourcing, engineering, agricultural, and manufacturing industries, among other sectors. The event was jointly sponsored by the Board of Investments (BOI), the PEZA, and the Philippine Trade and Investment Center of the Department of Trade and Industry (DTI).