Information

AWO speaks at PICPA Faculty Development Committee webinar  Consulting Partner Allan W. Ocho (AWO) facilitated a webinar on BS Accounting Information System (BSAIS) topics and international certifications hosted by the Philippine Institute of Certified Public Accountants (PICPA) Faculty Development Committee last 28 August.   AWO oriented participants on Information Technology (IT) Risk Management, one of the topics included in the BSAIS curriculum. He discussed risk and control concepts, control frameworks and standards, and the importance of managing IT risks. He emphasized IT governance and management concepts and how they add value to organizations and help achieve business objectives. He also discussed the Certified Information Systems Auditor (CISA) certification and the ways it can enhance one’s capabilities in teaching BSAIS courses to accounting students.    AWO with members of the Project iTeach team and the PICPA webinar organizing team  The webinar is part of a series of sessions organized by the PICPA Faculty Development Committee to provide accounting teachers with supplemental discussions on the new courses of the BSAIS curriculum. It also introduces the international certifications that accounting teachers and students can pursue to build and expand their credentials, competencies and skills.  Over 200 accounting teachers attended the webinar. PICPA National President Lope Bato, Jr., PICPA Metro Manila Region President Vicente Gudani, and PICPA Faculty Development Committee Chairman and Dean of the UST-Alfredo M. Velayo College of Accountancy Patricia Empleo also participated in the session.   The webinar was supported by the Project iTeach team whose members include Consulting Associate Director Kristian Reyes, Senior Associate Marigin Fidel, and Associates Ralph Roxas, Mydi Macatiag, Jannie Mendoza and Lorenzo Dipad. The Project iTeach team is a volunteer group from SGV Consulting and was recognized as a regional winner in the 2019 Better Begins With You (BBWY) awards program for their initiatives in helping accounting teachers build and enhance their IT competencies and skills. 

WPT joins PICPA-ACPAPP summit  SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) was one of the panelists at the Joint Sectoral Summit for Public Practice on 21 August. The Philippine Institute of Certified Public Accountants (PICPA) and Association of Certified Public Accountants in Public Practice (ACPAPP) hosted the summit, which brought together over 450 participants.   WPT presenting at the Joint Sectoral Summit  WPT was part of a panel discussion titled Auditing the Auditors where he presented suggestions on improving audit quality in the Philippines. His recommendations included suggestions on categorizing quality review findings and supporting small- and medium-sized practitioners in building their capacity to improve audit quality and comply with regulatory requirements. Emphasizing that audit quality is part of a large and intricate system where all members play an essential role, he also explained the importance of a properly functioning corporate governance system. He also encouraged the use of technology-based methods in conducting audit-related work to increase productivity. 

CCO leads tax discussion  SGV Tax Partner Cheryl C. Ong (CCO) led a webinar titled Business Talk: CREATE-ing Opportunities on 28 August. SGV Tax Leader Fame Delos Santos welcomed over 400 participants from different sectors to the webinar.  CCO discussed the salient features of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) bill, and the proposed adjustments in corporate income tax and fiscal incentives. She also provided insights on the next steps participants can consider to maximize the incentives under the CREATE bill. The webinar concluded with an open forum led by CCO who was assisted by Tax Partner Thyrza F. Marbas (TFM).  CCO and TFM with the Tax organizing Team   The webinar’s organizing team included Tax Managers Karen Mae Calam and Aiza Giltendez, and Senior Associates Wennonah Marie Garces and Kyle Almero. 

Cebu teams with JCCI-CI  SGV Cebu’s Tax Team held a webinar on the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) bill and the BIR requirements on related party transactions for members of the Japanese Chamber of Commerce and Industry of Cebu Inc. (JCCI-CI) last 26 August. Conducted mostly in Japanese, the webinar was led by Japan Business Services and Tax Associate Directors Hiroshi Nakagawa and Yohko Tsuge with SGV Cebu Partner-in-Charge and Tax Partner Cheryl C. Ong (CCO).  Speakers at the JCCI-CI webinar with JCCI-CI President Hirohisa Kinoshita  Hiro discussed the salient features of the CREATE bill, particularly the proposed adjustments in corporate tax and rationalization of fiscal incentives. He also explained the new BIR requirement for the submission of an Information Return on Related Party Transactions form (BIR Form No. 1709) and the salient features of Revenue Memorandum Circular No. 76-2020. The webinar culminated with an open forum led by CCO and Yohko.  Japanese executives and tax professionals from member companies of JCCI-CI attended the webinar. The event’s organizing team included Tax Managers Melissa To, Aiza Giltendez and Krizfer Jane Gella. 

SGV Partners lead GPCCI webinar   SGV Consulting Partner Kathrina S. Macaisa (KSM) and Strategy and Transactions Partner Marie Stephanie Tan-Hamed (MTH) conducted a webinar titled Positioning for Recovery through Enterprise Resiliency on 18 August. Hosted by the German-Philippine Chamber of Commerce and Industry, Inc. (GPCCI), the webinar discussed how companies can build enterprise resiliency during the pandemic.  The speakers provided an overview of the Philippine economy and discussed possible pandemic recovery scenarios and their social and economic impacts. They explained the stages of a business’s COVID-19 recovery response and presented examples of practical approaches and action steps on how leaders can protect the wellbeing of their customers, support critical operations and restore market confidence.   They also discussed the EY COVID-19 Enterprise Resiliency Framework across three horizons — now, next and beyond. They provided tips on how companies can strengthen their operations and increase their resilience to prepare for what’s next. They also shared how companies can build long-term value by reframing their future and transforming their business to adapt to the business landscape after the pandemic.  The webinar concluded with an interactive open forum. Over 50 GPCCI members attended the webinar. The event’s organizing team included SGV Assurance Leader Martin Guantes and Market Group 3 Leader and Tax Partner Henry Tan. 

Tax holds Transfer Pricing webinar with Mactan locators  SGV’s Tax Team, together with the Mactan Export Processing Zone Chamber of Exporters and Manufacturers (MEPZCEM) and the Association of MEPZ Controllers and Accountants (AMCA), organized a tax webinar on the submission of the Information Return on Related Party Transactions form (BIR Form No. 1709) last 27 August. Over 60 representatives from member-companies of the MEPZCEM and AMCA attended the event.  DMG presenting at the webinar  Tax Partner Deonah Marco-Go (DMG) discussed Revenue Regulations No. 19-2020, its requirements and how taxpayers and stakeholders can comply with the new regulations. The new reportorial requirement is intended to effectively implement Philippine Accounting Standards (PAS) 24, Related Party Disclosures, to ensure that related party transactions are properly disclosed and conducted at arm’s length.   The webinar concluded with remarks from AMCA President Jane Abangan who expressed her appreciation for the Firm’s continued support for the MEPZCEM and AMCA. SGV Tax Partners Cheryl Ong and Saha Bulagsak led the event’s organizing team with Tax Managers Edmond Emperio, Anne Margaret Momongan and Maxine Manuel, and Senior Associates Gensbergh Rago and Lloyd Amaya. 

Tax team hosts PCS webinar  The Private Client Services (PCS) group of SGV Tax hosted a webinar titled Tax Insights: Wealth Planning Considerations for Dual Citizens on 10 July. The roundtable discussion provided insights on succession planning, wealth management, and the process of setting up a trust and its various tax implications. These include the tax impact of being a beneficiary of a trust and the marital property regimes under the Family Code of the Philippines.   Speakers at the PCS webinar  Speakers included EY ASEAN and SGV Business Tax Services Leader Jules Riego; EY US Tax Principal Marianne R. Kayan; EY ASEAN Tax Leader, Asia-Pacific Private Family Enterprise Leader and Private Tax Partner Desmond Teo; Atlas Asia Law (Singapore) Director Benjamin Szeto; and EY ASEAN US Tax Help Desk Senior Manager Michael Xiang. SGV Tax Partner Cheryl Ong moderated the session.   Over 180 participants attended the webinar, including business owners who are dual citizens or have family members who are dual citizens. The event’s organizing team included Tax Partner Thyrza Marbas, Tax Director Anne Margaret Momongan, and Tax Associate Directors Marian Kris Santos and Rosalie Nuñeza.   

Consulting holds CAE roundtable sessions  SGV Consulting held a series of virtual roundtable sessions titled Maintaining Trust through COVID-19 for selected Chief Audit Executives (CAEs) and Internal Audit (IA) heads. During each session, SGV and CAE participants shared insights on topics related to how organizations and their IA departments have responded to the pandemic across three dimensions: Now: Managing the Crisis, Next: Restarting the Business, and Beyond: Building Resilience for the Next Crisis.   SGV Chief Risk Officer, Consulting Markets Leader, and EY ASEAN Regional Risk Management Leader Leonardo J. Matignas Jr. (LJM) and EY ASEAN Risk Competency Leader and SGV Consulting Partner Christiane Say-Mendoza discussed the challenges that organizations are facing due to the pandemic, their responses, and the areas of focus during crisis management. LJM mentioned how some CAEs reached out to him for leading practices and business playbooks to address the situation. The speakers also shared insights on how IA professionals and their organizations are responding to the challenges of working under the new normal, a time when community quarantines are imposed, and operations are disrupted.    Speakers at the CAE roundtable session and the Consulting organizing team  SGV Business Consulting Leader Ryan Chua discussed how organizations are managing their operations with the gradual lifting of community quarantine measures. He also provided insights on the expected challenges and potential new areas of focus that organizations may consider as they restart their businesses and the ongoing and planned initiatives of IA to address emerging risks.   EY ASEAN Consulting Quality Leader and SGV Consulting Partner Ian Canlas discussed building resilience for the next crisis. He talked about the future of IA operations after the COVID-19 disruption, how companies are coping with the new normal and maximizing the use of technology.   The participants were also given the chance to share their own experiences and ask questions throughout the session. Over 30 CAEs from local and international companies participated in the roundtable sessions, including members from the banking, power and utilities, insurance, and manufacturing industries, among others. 

CCaSS organizes EHS and ERM webinar  SGV’s Climate Change and Sustainability Services (CCaSS) team conducted a webinar on COVID-19 Environment, Health & Safety (EHS) and Enterprise Risk Management (ERM) considerations last 25 June. SGV Chairman and Country Managing Partner Wilson Tan welcomed over 350 participants from the real estate, hospitality, construction, power and utilities, consumer products, retail, and banking industries. Vice Chair and Deputy Managing Partner Vivian Ruiz provided an overview of the webinar’s main agenda and points of discussion.  Speakers at the CCaSS webinar  CCaSS Senior Director Katrina Francisco began the session with an overview of the community quarantine measures implemented in the country. FAAS and CCaSS Partner Benjamin N. Villacorte (BNV) discussed the EHS considerations, key regulatory responses for EHS, and the EY EHS Maturity Model. SGV Consulting Partner and EY ASEAN Consulting Quality Leader Joseph Ian M. Canlas (JMC) spoke on ERM and its related sustainability risk considerations. He also emphasized the value of a well-designed ERM function in sustainability risk management.   BNV, JMC and Ms. Francisco then led an open forum where they discussed how companies can develop and sustain their EHS practices and how sustainability risks can be considered in a company’s ERM across three dimensions: now, next and beyond. They explained that companies should assess and address the pandemic’s immediate problems; explore the possible changes to the company’s EHS and ERM strategies and processes; and prepare for future crises by prioritizing areas that boost business resilience.    The SGV CCaSS team supports organizations as they develop and implement their climate risk and sustainability strategies. The team’s services cover sustainability and supply chain advisory, non-financial and sustainability reporting advisory and assurance, EHS, sustainable finance, and climate change risk analysis and advisory. 

TFM presents at PICPA Conference  Tax Partner Thyrza F. Marbas (TFM) was one of the speakers at the Philippine Institute of Certified Public Accountants (PICPA) Southern Mindanao Chapter’s 3rd Regional Conference on 26 June. She led a virtual briefing on managing tax assessments during the COVID-19 pandemic.   TFM’s presentation at the PICPA Southern Mindanao Chapter’s 3rd Regional Conference  TFM discussed the latest tax updates and developments in response to the pandemic. She explained how the crisis can impact business tax assessments and tax functions. She also spoke on the measures and leading practices that organizations can implement to protect their businesses.