November 2022

The SGV Climate Change and Sustainability Services (CCaSS) team hosted a Sustainabits session on “Engineering a Greener World for a Better Future – Advanced Technologies on Waste Management and Garbage Recycling.” This session aimed to orient and inform the SGV community on sustainable waste management technologies. The session was attended by about 555 SGVeans on 28 October 2022. CCaSS Associates Ericka Mae G. Lima and Aljomar T. Pedrosa together with CCaSS Manager Ma. Rebecca S. Ruiz were the presenters for this session. Rebecca welcomes the participants Ericka discusses the basic definitions of waste and waste management. She is joined by Rebecca and Aljomar. Among the topics discussed in the session were the fundamentals of waste management, advancements in technologies for waste management, global and local policies, and SGV’s Total Resource Use and Efficiency (TRUE) Program for achieving its zero-waste goal. The definitions of waste and waste management were introduced followed by a discussion on the 5R guiding principles and the waste management process cycle.  The second part of the session focused on waste disposal methods, new waste management technologies, the concept and principle of upcycling, and an in-depth discussion on the 5Rs. The pitfalls and disadvantages of the current disposal methods were also discussed along with the dangers they pose to the open environment.  The current global and local policies implemented to protect and sustain the environment through socio-economic means were discussed in the third part of the session. The session concluded with a discussion on the TRUE Program implemented by the Firm as a form of integrated corporate initiative. SGVeans were encouraged to show their commitment to be part of this initiative to achieve the zero-waste goal through proper waste management in the SGV I and II buildings. The Sustainable Actions for Value Creation and Enablement (SAVE) Council’s Sustainabits initiative is a series of half-hour webcasts that cover ideas, movements, principles, and best industry practices on sustainability, social equity, and climate change. 

SGV Clark Partner-in-Charge and Head Atty. Margaux A. Advincula (MAA) was one of the witnesses to the signing of the Memorandum of Understanding (MOU) between the Federation of Philippine American Chambers of Commerce (FPACC) and the Clark Investors and Locators Association (CILA) on 16 October 2022 at the Alpha Aviation Group Philippines, Inc. (AAG) building. The CILA welcomed near 100 guests. SGV Clark Partner-in-Charge and Head Atty. Margaux A. Advincula (fourth from top-left) with U.S. East Coast/New York Consul General Elmer Cato, Clark Development Corporation Vice President Rynah Ventura, and FPACC and CILA representatives during the MOU signing Group photo after the MOU signing CILA signatories were Chairman Francisco Villanueva, Jr., Vice-Chairman Engr. Radito Tuazon, and President Cristopher A. Magdangal. The signing of the MOU between the FPACC and CILA marked the beginning of a fruitful partnership and the establishment of a consultative process for providing exchanges of information to promote the members and affiliates of both parties throughout the United States and their network of business contacts. 

SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) was elected as the 2023 Financial Executives Institute of the Philippines (FINEX) President during the 2023 Board of Directors' Organizational Meeting on 7 November 2022. 2023 FINEX President Wilson P. Tan Wilson served as the organization’s Treasurer for two years before he was elected President. He 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).  Congratulations, WPT!

SGV Clark Partner-in-Charge and Head Atty. Margaux A. Advincula (MAA), Market Group Leader Jose Pepito E. Zabat III (JEZ), SGV Clark Tax Partner Hentje Leo L. Leaño (LLL), and SGV Assurance Partner Eleanore A. Layug (EAL) attended the grand opening of the new passenger terminal at the Clark International Airport (CRK) hosted and organized by the Luzon International Premiere Airport Development Corp. (LIPAD) in September 2022 at Mabalacat, Pampanga. They were joined by national and local government officials, as well as other guests from the private sector. SGV Partners Jose Pepito E. Zabat III, Atty. Margaux A. Advincula, Eleanore A. Layug, and Hentje Leo L. Leaño at the CRK new passenger terminal grand opening In his keynote speech, President Ferdinand R. Marcos Jr. said that the new facility will encourage tourism and demonstrate that Clark and the Philippines are open to more domestic and international businesses. LIPAD and Filinvest Development Corp. Director Francis D. Gotianun also emphasized this mission to connect businesses both locally and internationally. SGV Partners with LIPAD representatives Department of Transportation (DOTr) Secretary Jaime Bautista thanked the public and private sectors for their support. The New Terminal building is the first infrastructure project made through a public-private partnership under the former administration’s “Build, Build, Build” program.  Officials of the provinces and cities in Pampanga and Tarlac, the Bases Conversion and Development Authority, Clark Development Corporation, Clark International Airport Corporation and CRK community partners also attended the grand opening. 

SGV Clark Partner-in-charge and DIWATA Member Atty. Margaux A. Advincula (MAA), SGV Clark Tax Partner Hentje Leo L. Leaño (LLL), Market Group 7 Leader Jose Pepito E. Zabat (JEZ), SGV Assurance Partner and DIWATA President Eleanore A. Layug (EAL), and SGV Senior Policy Adviser and DIWATA Chair Delia Domingo Albert (DDA) paid a courtesy call on newly appointed President and CEO of Clark Development Corporation (CDC) Atty. Agnes Devanadera at the CDC Clark office in September 2022. Market Group 7 Leader Jose Pepito E. Zabat, DIWATA member Marilou Dela Cruz, DIWATA trustee Gloria Alicia Veloso, SGV Clark Partner-in-charge and DIWATA Member Atty. Margaux A. Advincula, CDC President and CEO Atty. Agnes Devanadera, SGV Senior Policy Adviser and DIWATA Chair Delia Domingo Albert, DIWATA member Annie Dee, SGV Assurance Partner and DIWATA President Eleanore A. Layug, and SGV Clark Tax Partner Hentje Leo L. Leaño Atty. Agnes presides over the meeting Atty. Margaux organized the courtesy call. During the courtesy call, DDA introduced the partnership between DIWATA – Women in Resource Development Inc., an NGO advocating for the responsible development of the Philippines’ wealth of resources in the fields of mining, oil and gas, quarrying and other mineral resources, the CDC, and the Land Rover Club of the Philippines for DIWATA projects near Clark. Other officers and members of DIWATA also attended the courtesy call. 

Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) was a speaker in the 2nd Association of Certified Public Accountants in Public Practice (ACPAPP) International Conference in Central Park Hotel Songdo, Incheon, South Korea from 25 to 29 October 2022. EY South Korea CCaSS Partner Jaeheum Park, Philippine Ambassador to Korea Maria Theresa B. Dizon-De Vega, and SGV Partner Benjamin N. Villacorte Benjamin talked about Environmental Social and Governance (ESG) Reporting. He covered sustainability concepts, standards and frameworks for sustainability reporting as well as the role of accountants in sustainability. In another technical session, Benjamin and EY South Korea CCaSS Partner Jaeheum Park discussed current developments and the regulatory landscape on sustainability reporting in the Philippines and Korea, respectively. 2nd ACPAPP International Conference Chairperson - Technical Session Ludette Mendoza, ACPAPP National President Gladeys Jill A. Santos, SGV Partner Benjamin N. Villacorte, EY South Korea CCaSS Partner Jaeheum Park, EY South Korea CCaSS Senior Junyoon Ha, and 2nd ACPAPP International Conference Chairperson Anita C. Rodriguez SGV Sector Representative Cyril B. Valencia (CBV) and SGV Assurance Partners Dhonabee B. Seneres (DBS) and John T. Villa (JTV) also attended the conference. SGV Sector Representative Cyril B. Valencia, Philippine Ambassador to Korea Maria Theresa B. Dizon-De Vega, and SGV Assurance Partners Dhonabee B. Seneres and John T. Villa

SGV Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV), an accredited Verification Service Provider (VSP) of the Chamber of Mines of the Philippines (COMP), participated in the Towards Sustainable Mining (TSM) orientation for VSPs on 12 October 2022. The orientation was conducted by COMP in preparation for the mandatory submission of the TSM 2022 self-assessment reports. VSPs were welcomed by TMC officials and staff led by Resident Mine Manager Artemio Valeroso Benjamin and the other VSPs visited the Taganito Mining Corporation (TMC) mine site in Claver, Surigao del Norte in September to observe the project’s operations as well as its environmental protection and social development programs.  VSPs with TMC officials and staff As VSPs, they will be using measurement tools prescribed by the TSM program to review the performance ratings of the COMP members and ensure that mining operators’ management practices and performance are accurately reflected. They will ensure the objectivity and integrity of the TSM external verification process, which requires validation of the COMP members’ self-assessment reports. Benjamin and SGV Assurance Partner Katrina F. Francisco (KFF) were among the first batch of experienced independent experts in social, environmental, mining, and other related sciences who were trained by the Mining Association of Canada (MAC) in February and March 2022 to be COMP VSPs. 

Tax Principal Ana Katrina C. De Jesus (ACJ) facilitated webinars on Transfer Pricing: Recent Developments on Compliance and Audit hosted by the American Chamber of Commerce of the Philippines (AmCham) on 18 October and the Australia New Zealand Chamber of Commerce of the Philippines (ANZCham) on 19 October 2022.  AmCham webinar poster Tax Principals Ana Katrina C. De Jesus (top-right) and Jules E. Riego (bottom-right) with the AmCham team via Zoom The AmCham webinar was co-facilitated by Revenue District Officer (RDO) Wilfredo S. Reyes, co-author of Revenue Audit Memorandum Order (RAMO) No. 1-2019, the Transfer Pricing (TP) Audit Guidelines. RDO Reyes discussed the salient points of the TP Audit Guidelines from the perspective of the Bureau of Internal Revenue. He also addressed TP issues faced by groups of companies today.  For the ANZCham webinar, Ana discussed Philippine TP rules and focused on TP audit, TP documentation requirements as well as disclosure forms. She also tackled recently issued regulations on Mutual Agreement Procedure Assistance in the Philippines and its relation to TP.  ANZCham webinar poster Ana with the organizers and attendees via Zoom Tax Principal Jules E. Riego (JER) moderated the live Q&A session for the AmCham webinar while Tax Associate Director Natasha Kim R. Tec hosted and moderated the live Q&A session for the ANZCham webinar. She also assisted in organizing the ANZCham and AmCham webinars.

There were 104 SGV staff members who passed the October 2022 Certified Public Accountant licensure exam (CPALE). The results were announced on 26 October, with 1,722 passers out of 6,665 examinees.  SGV extends its warmest congratulations to the following staff members: Abejar,Casey Andrea DAchurra,Lovelaine TAggabao,Jake Emmanuel BAmbay,Mary Grace BAngeles,Christian Mar Renne PAquino,Dale Andrew JArcilla,Nabeela LAspiras,Yves Timothy MBajacan,Ciela Mae Frances MBalagtas,Jemima Eunice LBarbin,Rafael RBartal,Jeffry OBarut,John Leander MBañez,Cathrine Mae PBañez,Nicole PBuefano,Rhea Mae LCandelaria,Lex Oliver BCaringal,Jalen Rose VCastañeda,Edanne Beverly BCeñido,Joan Kris LColumbres,Lea Marie AConstantino,Shaniah Kathleen ICorpuz,Dexter BCostuna,Jude Edzzel ACutillar,Jupher VDalilis,Connery GDano,Shanine Franzel MDatu,Rocelle ADe Guzman,Maria Angela FDe Vera,Loella Gieverlyn MDeocos,Louise SDiego,Patricia Rae PDucalas,Aira Dianne AEcito,Athena Aura VEmperio,Lheiann Vhiev QEscalante,Nicolyn Rae TEspañola,Nathaniel Don BGalarion,Zachary Ivan GGeron,Brent Jacob YGonzales,Jaymee Rose CGuevarra,Shaina THerreria,Carla Mae PHilario,Cadeleine AIbutnandi,John Paul LIndicar,Karla Charina AIturralde,John Rudolf PJandoc,Ciarra Giana MJumawan,Jerico Nouel FKedtag,Rehanna MKonishi,Mica Mae ALeandado,John Richter BLibiran,Angelina GLigon,Edward Joseph MLimjoco,Michelle Angela VLozada,Daisy Marianne CMacabiog,Steve Dan RMaddela,Alicia Bettina DMagsaysay,Nicollene CManapsal,Rob Miguel CMapola,Mia Claire EMateo,Joseph-Ian BMayol,Shania Shahane TMendoza,Jade Camille AMutuc,Christian Dave RMuyco,Rishel PNavalta,Iris Joy TOng,Floriza Mae ROngyaco,Ernalyn ROrallo,Janina NPalogan,Airen BPamintuan,Mariell EPascual,Aila Jean CPataueg,Rizza Joice MPontillas,Kimberly Jayne VPuentevella,James VRama,Renae Gabrielle SRamos,Steve Paulo ARodriguez,Miguel SRoque,Sofia Janine RRosel,Vanessa CRoxas,Victor Franz MSalvedia,Paola VSamutya,Rachel Anne Joyce MSaparita,Cherrylyn PSolamo,Marvin ASta. Maria,Leinell BSusi,Marielle CTarantan,Veatrice STeneza,Madelene GTeodoro,Manuel NTiu,Kelsey Neale CTiu,Pamela Lorraine MTolentino,Nathaniel STolentino,Niña JTriumfante,John Romer BTumamao,Jemimah Claire NUrbano,Ma. Christina Teresa PVenturero,Sheila Marie TVillanueva,Angela Rose MVillar,Mary Joy CVillarama,John Kenneth SViray,Robelou EViray,Shania Grace QYambot,Hazel Angela PYcong,Danah EZamora,Alvin Dan-Neil A Congratulations to our new CPAs!

SGVeans participated in the first hybrid Annual Convention organized by the Institute of Internal Auditors Philippines (IIAP) from 5 to 7 October 2022 with the theme Internal Audit: R.A.I.S.E.D (Resilient, Agile, Innovative, Sustainable, Empowered, Digital). In-person sessions were held at the Clark Marriott Hotel, Pampanga and were simultaneously streamed via Whova and Zoom with previews made available live at the IIAP Facebook page. SGVeans with members of the Annual Convention Committee from other companies and IIAP Annual Convention Special Guest Speaker Atty. Chel Diokno IIAP Annual Convention Chair Christiane Joymiel “Chin” Say-Mendoza (CSM) and IIAP Chairman and President Ryan Gilbert K. Chua (RKC) kicked off the three-day convention with their opening and welcome remarks, respectively. SGV Partners Carlo Kristle G. Dimarucut (CGD) and Philip B. Casanova (PBC) were speakers on tech-enabled Risk Management and Business Continuity practices. Alumni SGV Partner, Mr. Leo J. Matignas, also shared his insights on Combined Assurance through the Three Lines Model. Other convention speakers were Chief Audit Executives (CAEs) and C-Suites from different companies in the Philippines. RKC, SGV Consulting Partner Joseph Ian M. Canlas (JMC), and Consulting Senior Managers Michael Jorge B. Ignacio and Catherine G. Chua also served as moderators for some of the talks.  IIAP Chairman and President Ryan Gilbert Chua and IIAP Annual Convention Chair Chin Say-Mendoza welcome the participants SGV Partners Philip Casanova, Carlo Kristle Dimarucut, and alumni SGV Partner LJM during their respective sessions Consulting Associate Directors Rose Abigael R. Lacuna and Alyssa Ave G. Cui provided live previews of the convention events on IIAP’s Facebook page. 2022 IIAP Annual Convention Committee Members from SGV include Catherine, Consulting Director Janine Fatima M. Beltran, and Consulting Senior Associate Lloyd Christian E. Estillore.  This was the first hybrid convention held by the IIAP after more than two years of holding virtual conventions since the pandemic began. The convention had 159 in-person and 462 virtual attendees, or 621 in total – by far the largest number of participants for the convention, showing the readiness of internal auditors to embrace the “next and better normal.” The discussions and activities during the convention aimed to equip and, as the theme indicated, raise well-rounded and holistically skilled internal audit professionals.