August 2023

The SGV 1 and SGV 2 buildings were recognized by the Green Business Certification Inc. (GBCI) as the first Total Resource Use and Efficiency (TRUE) Precertified facilities in the Philippines. This recognition highlights SGV's commitment to sustainability and environmental stewardship and marks the beginning of its path to full TRUE Certification for Zero Waste.  SGV 1 and 2 buildings This initiative is part of the environmental efforts of the SGV Sustainable Actions for Value-Creation and Enablement (SAVE) Council as the Firm adopts and redefines better ways of doing business, particularly in pursuing and achieving its zero-waste goals while becoming a more resource-efficient organization. GBCI is the world’s leading sustainability and health certification and credentialing body. Its TRUE Certification for Zero Waste program strives to change the way materials flow through society while ensuring that all products are eventually reused and diverted from landfill, incineration (waste-to-energy), and the environment. 

SGV Chairman and Managing Partner Wilson P. Tan and Strategy and Transactions (SaT) Partner Marie Stephanie Tan-Hamed represented SGV at the contract signing with the Department of Transportation (DOTr) on 18 August 2023. SGV is one of the professional services firms undertaking feasibility studies on various transportation transformation projects. SGV will be undertaking a feasibility study for the Manila Bay – Pasig River – Laguna Lake Ferry System project. (From left to right) Strategy and Transactions (SaT) Partner Marie Stephanie Tan-Hamed, DOTr Secretary Jaime Bautista, SGV Chairman and Managing Partner Wilson P. Tan, EY Singapore Partner Lynn Tho, and USEC TJ Batan at the contract signing Other signatories and attendees included DOTr Secretary Jaime Bautista, USEC TJ Batan, PPP Center Executive Director Ma. Cynthia Hernandez, PPP Center Deputy Executive Director Eli Ricote, EY Singapore Partner Lynn Tho, representatives from other consultants, and other officials of the PPP Center and the DOTr.

SGV held a Legacy Night event to honor its alumni Partners and the 45 SGV CPAs who were among the Top 100 CPAs named and presented with the Centenary Award of Excellence by the Professional Regulation Commission’s Board of Accountancy (PRC BOA). The event, held at the Conrad Manila on 30 June 2023, highlighted the Firm and its people’s rich legacy of excellence, integrity, and stewardship. More than 100 current and alumni SGV Partners attended the event. Current and Alumni SGV Partners Chairman and Country Managing Partner Wilson P. Tan (WPT) welcomed the attendees and talked about the current state of the Firm. He also congratulated and welcomed the new Partners and Principals. Additionally, he talked about the Firm’s recent achievements with a message centered on the theme, "Stewardship. Grit. Vibrance.” SGV Chairman and Country Managing Partner Wilson P. Tan delivers his welcome remarks Former SGV Chairman and Managing Partner (1999-2004) Cesar V. Purisima (CVP) Former SGV Chairman and Managing Partner (2010-2017) Cirilo “Vic” P. Noel (CPN) Former SGV Chairman and Managing Partner (2017-2020) J. Carlitos “Itos” G. Cruz (JGC)  Former SGV Chairmen and Managing Partners and recipients of the Centenary Award of Excellence Cesar V. Purisima (CVP), Cirilo “Vic” P. Noel (CPN) and J. Carlitos “Itos” G. Cruz (JGC) shared words of wisdom and how they felt about being part of SGV’s living legacy. SGV Alumni during Legacy Night The SGV Dance Club and SGV Glee also performed at the event. SGV Assurance Leader Martin C. Guantes (MCG) concluded the program with his closing remarks and thanked all the SGV alumni Partners for attending the event.

SGV Climate Change and Sustainability Services (CCaSS) Senior Director Crystal Aleli R. Cornell and Associate Director Carla J. Capistrano were speakers at the Philippine Institute of Certified Public Accountants (PICPA) Western Metro Manila Chapter (WMMC) webinar on Circular Economy and Extended Producer Responsibility held online via Zoom on 20 June 2023.  Crystal and Carla’s Certificates of Appreciation Carla discussed how a circular economy provides an alternative to the current model of linear consumption and shared available solutions being practiced locally and globally. She also gave an overview of Republic Act No. 11898 or the Extended Producer Responsibility (EPR) Act of 2022 which focuses on plastic packaging. Crystal talked about the audit of EPR reporting, specifically referring to the audit requirements of the EPR Act of 2022 and relevant plastic disclosures for assurance. She pointed out that the newly introduced legislation can help facilitate the reduction of single-use plastics by large companies, allowing for a circular economy on a larger scale.

SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) participated in the ASEAN Capital Markets Forum (ACMF) and International Sustainability Standards Board (ISSB) Joint Conference and Technical Training on the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards in Singapore from 27 to 28 June 2023. The event marked the launch of the ISSB’s two inaugural IFRS Sustainability Disclosure Standards. SGV CCaSS Partner Benjamin N. Villacorte (left) with ISSB Vice-Chair Jingdong Hua (second from left) and other representatives from the Philippine delegation On Day 1, ACMF Chair Inarno Djajadi of the Indonesia Otoritas Jasa Keuangan shared his remarks. This was followed by detailed presentations on key aspects of the newly launched standards as well as panel discussions on perspectives relating to sustainability disclosures and the IFRS Sustainability Disclosure Standards with ISSB Vice-Chair Jingdong Hua as one of the speakers.  Technical training sessions for regulators and corporate preparers were conducted on Day 2. The sessions were a deeper dive into the technical aspects of the ISSB standards and their practical implications. More than 1,000 ASEAN regulators, investors, corporate preparers, and other stakeholders participated in the event, of which over 200 attended in-person. Thirty out of the 200 in-person attendants were from the Philippine delegation, which included corporate preparers from various private companies and representatives from local regulators such as the Securities and Exchange Commission (SEC), the Bangko Sentral ng Pilipinas (BSP), and the Insurance Commission.

Members of the SGV Consulting team conducted an Information and Communication Technology (ICT) Immersion at Rizal High School on 26 June 2023 with over 300 attendees composed of Grade 11 and Grade 12 ICT students. The immersion activity was part of the EY STEM Girls program which was also launched in the school earlier this year.  SGV Consulting Seniors Dan and Tricia Tricia and Dan discuss ICT topics Technology Consulting Senior Danielle “Dan” R. Bote and Business Consulting Senior Patricia Angeline “Tricia” Vilaga discussed various topics on ICT and IT Audit. Dan talked about college courses and career opportunities for ICT graduates, an overview of the System Development Life Cycle (SDLC), career opportunities in SDLC, software development, and tips for ICT students, while Tricia gave an overview of IT Audit and discussed its Importance, the role of IT auditors in internal and external audits as well as SDLC, and career opportunities in IT Audit. Rizal High School students during the ICT Immersion Dan and Tricia also facilitated other activities such as ice breakers and knowledge check games in between discussions for the students. The EY STEM Girls program was launched by EY Ripples and Women in Technology (WiT). It aims to recognize, uplift, and empower the next generation of girls in STEM and help break gender bias. The program also introduced the EY STEM app, a gamified mobile platform where girls aged 13 to 18 can engage in digital and real-life activities, such as educational games and activities with high-quality STEM (Science, Technology, Engineering and Math) content to foster an interest in STEM in a way that is exciting and fun as well as explore STEM-related careers.

SGV Partners and Managers joined the Accountancy Week Celebration (AWC) 2023 from 16 to 23 July 2023. Over 1000 CPAs, leaders, and other accounting professionals attended the event. SGV Partners and Managers at the AWC 2023 SGV Chairman and Country Managing Partner Wilson P. Tan with the other Big 4 CMP panelists and moderator during the panel discussion SGV Chairman and Country Managing Partner Wilson P. Tan and the other Big 4 CMP panelists and moderator receive plaques of appreciation from the AWC organizers SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) was a resource speaker on the topic “CEOs Most Important Business Challenges in 2023” during the Association of CPAs in Commerce and Industry (ACPACI) Day on 19 July. Wilson, along with the other Big 4 Country Managing Partners, joined the panel discussion conducted as part of the fifth ACPACI Technical Session. Other panelists were PwC Philippines Chairman and Senior Partner Roderick M. Danao, P&A Grant Thornton Chairman and Managing Partner Romualdo V. Murcia III, and Deloitte Philippines Managing Partner and CEO Atty. Fredieric B. Landicho. KPMG Head of Deal Advisory Michael Arcatomy H. Guarin moderated the discussion. SGV Chairman and Country Managing Partner Wilson P. Tan (second from right) with other AWC 2023 attendees PICPA MMR Council Chairman and Global Compliance & Reporting (GCR) Leader Sonia D. Segovia (SDS) delivered the welcome remarks for the AWC opening ceremonies on 17 July, while for the second technical session, SGV Strategy and Transactions (SaT) Senior Manager Lester Jeff D. Pawid talked about the “Philippine Economic Update: End of Pandemic, Road to an Inclusive Recovery.”  PICPA Southern Metro Manila Chapter (SMMC) President Aileen L. Saringan (ALS) and PICPA Western Metro Manila Chapter (WMMC) President Peter John R. Ventura (PRV) introduced the guest speakers and PICPA MMR Professional Development Co-Chair Meynard L. Sardalla was the Master of Ceremonies for PICPA MMR Day. Wilson and SGV Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz (VCR) also participated in the Spotlight on Public Practice sessions on the third day while Former PICPA President Marydith C. Miguel (MCM) participated in the Annual Business Meeting on the sixth day. Sonia, Aileen, and Peter joined the organization’s annual tree planting activity, PICPA Tanim, on the last day of the AWC. SGV Partners Aileen L. Saringan (second from left), Sonia D. Segovia (third from left), and Peter R. Ventura (right) during the PICPA Tanim tree planting activity at the La Mesa Nature Reserve Other SGV Partners were also present throughout the various technical sessions and activities during the AWC such as the Thanksgiving Mass, Sports Fest, Spotlight on the four accounting profession sectors, Regulator's Forum, Annual Business Meeting, PICPA Tanim, Closing Ceremonies, and the Grand Fellowship Ball at Okada Manila. The event was organized by the Philippine Institute of Certified Public Accountants (PICPA) together with the ACPACI, the National Association of CPAs in Education (NACPAE), the Government Association of CPAs (GACPA), the Association of CPAs in Public Practice (ACPAPP), PICPA MMR, and the National Committee on Cooperative Development.

SGV Cebu Partner-in-Charge Margem A. Tagalog (MAT) and SGV Cebu Partner Cheryl Edeline C. Ong (CCO) were inducted as members of the Management Association of the Philippines (MAP) during the MAP General Membership Meeting at the Seda Hotel, Ayala in Cebu. Margem (top center) and Cheryl (bottom center) during the oathtaking Dr. Cielito F. Habito provided a short economic briefing before the induction proper. Cebu City Mayor Mike Rama briefly explained the city’s aspiration to be like Singapore during his welcome remarks. He was also inducted into the association’s membership. The MAP is a 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 sustainable growth.