April 2023

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 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 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.
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 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.
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.
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.