April 2023

SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin “Benjie” N. Villacorte and CCaSS Associate Director Carla J. Capistrano joined the simultaneous classes organized by the Junior Philippine Institute of Accountants De La Salle University-Manila Chapter (JPIA-DLSU) via Zoom as part of its 12th Accounting Convention for Business Leaders entitled EXCEED2023 Accounting Challenge and Convention on 18 March 2022. Event poster and Benjie (top right) Benjie discussed sustainability reporting, developments in the practice and the role of accountants in sustainability reporting. He emphasized that as future accountants, the participants must also be familiar with sustainability aspects and how long-term value is created across stakeholders as these are now incorporated into businesses’ financial statements. With this knowledge, they would be able to help businesses understand the additional information needed to communicate their environmental and social impact. Benjie and Carla with JPIA-DLSU participants Carla discussed the concept of circular economy and how the Extended Producer Responsibility (EPR) Act of 2022 is driving this in the Philippines. Accountants also play an important role in that obliged enterprises must engage independent third-party auditors in their upcoming EPR compliance audit report to certify the veracity of the reported plastic product footprint generation, recovery, and overall EPR program compliance. She concluded her discussion with practical examples of circular economy and how companies have started to practice EPR in the Philippines and globally.  Aside from the simultaneous classes, the four-day business and accounting convention with the theme “Empowering Business Visionaries, Defying Socio-Economic Uncertainties” also featured a plenary, symposium, and various accounting challenges.
EY Asean and SGV Financial Accounting Advisory Services (FAAS) Leader Aris “Bok” C. Malantic (ACM), was a resource speaker and panelist at the Finance Manager Development Program held on 1 March 2023 at the Asian Institute of Management (AIM). A graduate of AIM’s Master in Business Management (MBM) program, Bok talked about the organizational behavior and team dynamics of an external audit team. He also shared his insights on a case study and was a panelist in the closing session. Bok with Prof. Candice Ann Lapan at the Finance Manager Development Program The Finance Manager Development Program under AIM’s School of Executive Education and Lifelong Learning (SEELL) seeks to develop top-notch professionals who add value to the business and manage its overall profitability and cash flow. It also aims to deepen the participants’ understanding of managing treasury and cash functions, working capital efficiency, tax compliance and management, internal audit and controls, risk management, and capital budgeting. The program is led by Prof. Candice Ann Lapan, MBM1998 and is part of AIM’s Audit, Risk and Internal Control class.
SGV Global Compliance and Reporting (GCR) Partner Aaron C. Escartin (ACE) was one of the resource speakers at the Chief Financial Officer (CFO) Summit 2023 with the theme “The Future of CFO in Emerging Markets: Post Pandemic” held from 3 to 4 April 2023 at the Crown Plaza Manila Galleria. Aaron during the CFO Summit Aaron was one of the discussion panelists for “The Critical Role of CFO as Deputy CEO.” He shared his insights on challenges faced by organizations with a particular emphasis on those brought about by the COVID-19 pandemic, strategies to acquire and retain talent, and ways to keep abreast with the dynamic business environment. He also shared that when making business decisions, firms do tax planning which should be performed not only to improve financial performance but also to consider its impact on other stakeholders like customers, suppliers, employees, shareholders, and society. Aaron gives tax updates Aaron was also the keynote speaker on the topics “2023 Tax Updates: What CFOs Need to Know” and “Tax and Finance Functions Transformation” where he shared valuable insights on current trends in the tax and finance functions and the latest developments in the Philippine tax landscape. GCR Senior Director Meynard L. Sardalla and Associate Directors Keith Briane D. Pangilinan and Shaira R. Jamolor were also present during the summit. The two-day event focused on trends and key areas that will help businesses strategize and augment their competitive position in business. It also focused on the following five-point agenda: market and user experience, financial inclusions, digital and latest technologies, data-driven finance and automation, and regulatory and compliance.
SGV Partners Maricris U. See (MUS), Christiane Joymiel “Chin” Say-Mendoza (CSM), Benigno “Ben” F. Leongson (BFL), Allan W. Ocho (AWO), Aileen L. Saringan (ALS), Global Compliance and Reporting (GCR) Associate Director Jao Renzo L. Mercado, and GCR Senior Director Marivic Rebulanan joined the Philippine Institute of Certified Public Accountants (PICPA) Metro Manila Region (MMR) Internal Audit and Information Technology (IT) Risk Assessment Summit from 17 to 18 February 2023. They served as resource speakers, reactors, and moderators.  Maricris delivers her welcome remarks The first part of the Summit focused on the topic of Internal Audit Risk Assessment, specifically Sustaining Quality in Risk Assessment by Playing It Forward: Transitioning to a Hybrid Workplace. Chin and Ben shared their insights on the topic as they served as reactor and moderator, respectively. Chin and Ben highlighted the importance of meeting the objectives and performing the fundamental processes of internal audit risk assessment and audit plan development, such as stakeholder reporting, understanding the business, gathering information to identify risks, and developing the risk universe. The second part focused on the topic of Information Technology Risk Assessment, specifically Sustaining Quality in Risk Assessment by Playing It Forward in the Post-Pandemic Environment, where Allan served as a reactor. He stressed the importance and understanding of IT or cyber risk assessment and their trends and impact on assurance practices. Maricris led the two-part Summit while Jao served as a member of the Summit’s overall committee and the Master of Ceremonies for the second part of the Summit. Aileen awarded certificates of appreciation to the speakers, reactors, and moderators at the end of the Summit. Other IT Risk Assessment and Internal Audit Risk Assessment accountants were also present during the event.  The Summit aimed to provide opportunities for the participants to continually advance and develop their technical competencies and knowledge in Internal Audit and IT Risk Assessment. 
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 has 55 new lawyers who passed the Bar Examinations for 2022. The results were announced on 14 April 2023 with 3,992 passers out of 9,183 examinees or a national passing rate of 43.47%. The Firm extends its warmest congratulations to the following staff members: Abary III, Patrocinio Irving C.Abenio, Mary Gail A.Acain, Susannie Jean V.Anenias, Frances Catherine D.Aquilizan, Dohn Alfred E.Areño, Kim Louise C.Arquero, David Angelo S. Bacarro, Tracie Kathlynne B.Balladares, Ryan P.Banuelos, Kelvinn L.Baysa, Maiko Kaye U.Belarma, Niño Louis M.Berlanga, Henry Daniel B. Cacho, Carlo Miguel M.Castro, Dennis Lazobert D.Cruz, Louie Lou E.Culajara, Jeserie B.Custodio, Jerrlito P.Cuyugan, Paolo G. Dawis, Bianca Denise D.Daytia, Jewel Joice G.Deculin, Cedy M.Dumlao, Cheyenne Hope  Francia, Merryl Kristie M. Gabrillo, Judith Lou A.Garcia-Jocson, Ivy G.Gonayon, Glomarie M. Ibarra, Marco Antonio J. Jagonos, Ella Rose V.Lagman, Jessica Ella S.Laurencio, John Ednold E. Marasigan, Shiela Marie M.Mendoza, Kimberly Camille G.Mendoza, Lauren Antonette  Ocampo, Louisse Erika C.Oliveros, Bernice Joyce V.Ong, Roberto Ruiz B.Ortigoza, Beatriz Anne D. Pagallamman, Eloisa Gee F. Regencia, Marie Anna Karla M.Resurreccion, Denzel G.Ret, Kierk Robin M.Romanca, Rosanna P.Roño, Ma. Selyna V. Santos, Bryan Joel C.Señoran, Artlyn Gem G.Singzon, Marian Therese S.Sy, Isobel Laurelle R. Teodoro, Cayenne Mae G.Tiangco, Rian Lee B.Tolentino, Inah Beatriz R.Torres, Giana Giorgia C.Trinidad, Aura Mae G.Tumbali, Fatima Mae D. Valdez, Lorrianne N. Congratulations to our new attorneys!
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. 
SGV Partners were resource speakers in the Philippine Institute of Certified Public Accountants (PICPA) Eastern Visayas Region Geographical Area Office (EVR-GAO) conference held from 17 to 18 February 2023. The two-day conference with the theme “Play It Forward: Securing a Sustainable Future” was held at the Henann Resort in Panglao, Bohol. John and Maricris receive tokens of appreciation SGV Assurance Partner John T. Villa (JTV) was the speaker for the first technical session entitled “Exposure Draft: IFRS for SMEs (Third Edition) while SGV Tax Partner Maricris U. See (MUS) was the speaker for “Tax Updates for Effective Compliance.” The conference also covered other topics such as regulatory updates, business community management, and environmental, social and governance.
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!
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.