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The PQF describes the levels of educational qualifications and sets the standards for qualification outcomes. It is a quality-assured national system for the development, recognition and award of qualifications based on standards of knowledge, skills and values acquired in different ways and methods by learners and workers of the country (RA 10968 – PQF Act). SDT and MUS were the emcees and moderators for the PQF summit for Public Practice The PQF Summit in August and September 2021 was a project of the PICPA National Professional Development Committee chaired by Florenz C. Tugas, with SGV Partners Shane Dave D. Tanguin (SDT) and Maricris U. See (MUS) as co-chairs of the committee. With the theme “Embracing the Role of PQF in the Accountancy Profession,” the four-day summit, with one day assigned per sector, was designed to deepen the understanding and application of PQF in education practice, commerce and industry practice, government practice, and public practice. At the end of the summit, attendees were expected to identify the levels, domains, and competency areas of each sector and perform self-assessments to determine their current levels vis-a-vis the career progression and specialization program (CPSP) for the accountancy profession. SGV Tax Partner Maricris U. See and Assurance Partner Shane Dave D. Tanguin (SDT) were the emcees and moderators for the PQF summit for Public Practice. Assurance Partner Meynard Bonoen (MAB), as President of PICPA Western Metro Manila Chapter, also participated in the event. Over 700 CPAs from all over the country attended the summit. 

Financial Services Organization (FSO) Partner Veronica Mae Arce Balisi (VAB) conducted the third Anti-Money Laundering (AML)/Counter Terrorism and Proliferation Financing (CTPF) training session for the Financial Executives Institute of the Philippines (FINEX) Academy. The Capital Markets and Fixed Income Securities Course Session 3 was held via Zoom on 6 September 2021. Agents and legal professionals from the securities sector and other participants preparing for the SEC certification exam attended the training session. VAB and Lindza presenting at the training session VAB kicked off the training with updates regarding the addition of the Philippines to the Financial Action Task Force (FATF) grey list once again, followed by an introduction to Money Laundering (ML), Terrorist Financing (TF) and Proliferation Financing (PF), including the concepts of predicate and unlawful activities.  VAB 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. Afterwards, FSO Senior Associate Lindza L. Julao facilitated quick knowledge checks in the form of survey questions to assess the participants’ learning progress.

SGV Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz (VCR) was one of the judges at the 11th Junior Achievement (JA) Company of the Year (COY) competition. The event was held on 9 November 2021 and hosted by Junior Achievement Philippines Incorporated (JAPI). COY is JA Asia-Pacific’s annual business competition that aims to inspire and award students from the JA Business Skills Pass program who aspire to be strong and competent business leaders in today’s world.  Program poster The annual JA Business Skills Pass program allows high school students from different countries around Asia-Pacific to create registered mini companies. Eleven finalists from eight countries participated in JA AP COY 2021, where they presented the results of their work to the judges. ScrapCap, a company from Singapore, was declared the winner.

SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) was inducted into office as Treasurer of the Management Association of the Philippines (MAP) during the virtual 73rd MAP Inaugural Meeting and Induction of the 2022 MAP Board of Governors on 13 January 2022. This will be WPT’s second year as a member of the Board of Governors of the MAP.   WPT at MAP oath-taking WPT has been a longtime member of the MAP, which is an exclusive non-profit organization composed of educators, government officials, and top management practitioners from the largest local and multinational companies operating in the Philippines. They advocate good governance, global competitiveness, climate change awareness, and sustainability growth. Congratulations, WPT!

SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) continues to serve as Treasurer and Director of the Financial Executives Institute of the Philippines (FINEX) and Trustee of the FINEX Academy. He attended the virtual 54th FINEX Inaugural Meeting and Induction Ceremonies where he was inducted into the same positions on the FINEX Institute Board of Directors and the FINEX Foundation Board of Trustees on 18 January 2022. 2022 FINEX Trustees 2022 FINEX Academy Trustees WPT has been a longtime member of FINEX, which is the country’s premier organization of finance professionals composed of almost 700 executives including CEOs and CFOs of the country’s top corporations, academic institutions, and small and medium-sized enterprises (SMEs). Meanwhile, FINEX Academy is the organization’s CFO training center, conducting professional development seminars and other education-oriented activities. Congratulations, WPT! 

The Anti-Money Laundering Council (AMLC) celebrated its 20th anniversary on 19 October 2021. SGV Financial Services Organization Leader Vicky L. Salas (VLS) received a Plaque of Appreciation from the AMLC and its Secretariat for the contribution and support of the Financial Services Organization in fulfilling the mandate of the AMLC. She received the award virtually and spoke on how the AMLC helped her team perform its mandate.  AMLC celebrates its 20th Anniversary with donations to various charities Bangko Sentral ng Pilipinas Governor and AMLC Chairman Benjamin E. Diokno gave the keynote message and AMLC Secretariat Executive Director Atty. Mel Georgie B. Racela gave the closing remarks.  SGV is the first local professional services firm accredited by the AMLC as an Institutional Training Provider (ITP). SGV has relevant experiences in anti-money laundering (AML) and counter terrorist and proliferation financing (CTPF) engagements such as policy gap analyses, independent assessments of AML/CTPF risk management frameworks, institutional risk assessments, transaction monitoring scenarios tuning, and remediations. VLS and SGV FSO Partner Veronica Arce Balisi are also AMLC accredited trainers.

In celebration of the International Day for Disaster Risk Reduction, the University of the Philippines Institute for Small-Scale Industries (UP ISSI) conducted the “E-HANDA Webinar: Helping MSMEs Build Forward Better” on 13 October 2021. The event was aimed at raising awareness on the available programs and reference materials to help strengthen the business continuity and recovery strategies of MSMEs. SGV Senior Director and BCMAP Director Alvin Manuel was among the speakers during the event. Alvin during Disaster Risk Reduction webinar Alvin talked about business continuity and enterprise resilience in the Philippine context. He looked into the risks and challenges faced by Philippine organizations even before the pandemic, ranging from cybersecurity and data privacy threats, to environmental and regulatory shifts, to changes in consumer behavior and a greater reliance on increasingly complex ecosystems. He shared his insights and experience around business continuity and resilience and how organizations can reshape their businesses for current and future challenges.

SGV Consulting Senior Director Alvin Manuel shared his insights regarding personnel security and auditing information security risk in webinars organized by the Philippine Institute of Certified Public Accountants – Eastern Metro Manila Chapter (PICPA – EMMC) on 3 and 5 November 2021. Alvin during his in-depth discussion  Alvin discussed some trends on information security and how organizations are managing risks amidst disruption. He shared his insights on the role of auditors in managing the information security risks in enterprises, highlighting trends and techniques in performing an audit for information security risks. He also talked about how organizations build a culture of security involving their people. He delved into the importance of personnel as the greatest resources as well as the weakest link in maintaining an effective level of information security in the organization.

The European Chamber of Commerce in the Philippines (ECCP) in partnership with the Embassy of the Netherlands in Manila, the Philippine Embassy in the Hague, DTI-PTIC Brussels, the Dutch Chamber of Commerce in the Philippines, the Philippine Netherlands Business Council and the Davao City Investment Promotion Center organized a webinar titled NOW (New Opportunities Waiting) in Davao: Investment Opportunities for Dutch Businesses. The event, held on 18 November 2021, provided in-depth discussions on the growing business opportunities and advantages in Davao that Dutch businesses can explore.  ECCP webinar participants The webinar was officially opened by ECCP Executive Director Florian Gottein's opening remarks and Davao City Mayor Sara Z. Duterte's welcoming message. The Ambassador of the Netherlands to the Philippines, Her Excellency Saskia de Lang gave the keynote speech that noted the growing relationship between the Philippines and the Netherlands in development, which was noticeable in the agriculture, water management, and maritime sectors. Other propositions were also discussed, including the opening of an honorary consulate in Davao City in the future. The event ended with a Q&A forum moderated by Tony Peralta which further discussed the opportunities and possible limitations in doing business in Davao City. The Philippine Ambassador to the Netherlands, His Excellency Eduardo Malaya gave the closing remarks and addressed the potential growth of Dutch companies in the country. 

SGV Consulting Principal Evert de Bock (EDB) and IDT Senior Director Alden Patrick C. Labaguis conducted a webinar on “How CFOs Can Transform Finance in the Age of Disruption” and “Common Tax Issues and Handling BIR Tax Audit” on October 15, 2021. Hosted by the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI), the webinar was attended by participants from member companies in the technology industry (including semiconductors).   SEIPI technology webinar speakers EDB’s discussion focused on adopting Agile Finance in a Digital World and on how to respond to changing markets by providing timely, accurate and efficient solutions. He discussed the disruptive forces at work and how clients can effectively address them by introducing the Four Finance Transformative Solutions, namely: Digital Finance, Value and Performance Management, Compliance & Regulatory Value Protection, and Global Business Services. EDB pointed out that the CFO role is changing as it is disrupted by a range of forces: digital acceleration, volatility, and intense scrutiny; thus, he emphasized that by using digital technologies and other enablers, finance shifts the focus to “value” vs. just “cost”. Alden discussed common tax issues encountered by PEZA-registered entities and provided insights on handling BIR tax audits. He specifically noted the common tax issues during a tax audit including incentive-related and allocation concerns, legal bases which may aid to refute the tax authorities’ allegations, as well as the necessary documents for supporting the assertions.  The webinar concluded with an open forum where the speakers addressed the participants’ questions. Participation in the virtual briefing was coordinated by Logistics Industry Leader and Tax Principal Stephanie V. Nava (SVN) and Technology Industry Leader and Assurance Partner Manolito R. Elle (MRE). The briefing’s coordination and organizing team included IDT Associate Director Gracia Mae A. Beronilla and IDT Senior Associate Roland Joseph C. Mendoza.