2023

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 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. 

SGV Global Compliance and Reporting (GCR) Partner Hentje Leo L. Leaño (LLL) was the resource speaker at the Philippine Institute of Certified Public Accountants (PICPA) Nueva Ecija Chapter seminar on tax updates during the Chapter’s general membership meeting on 9 April 2023 at the M Palm Event Center in La Torre, Talavera, Nueva Ecija. More than 100 Certified Public Accountants (CPAs) from different industries attended the meeting. Leo receives plaque of appreciation Leo discussed recent tax updates from decisions of the Court of Tax Appeals (CTA) and Supreme Court (SC) as well as recent issuances of the Bureau of Internal Revenue (BIR). The seminar concluded with the awarding of a plaque of appreciation to Leo by Association of CPAs in Commerce and Industry (ACPACI) National President Anna Lissa Chua-Dycaico, PICPA Nueva Ecija Chapter President Aileen Fae M. Africa, and Ex-Officio President Ronald Leabres. SGV GCR Associate Director David Jonathan F. Manalili was also present during the event.

SGV Climate Change and Sustainability Services (CCaSS) Senior Director Crystal Aleli Cornell and Associate Director Rosheena Borlaza were resource speakers at the Junior Philippine Institute of Accountants (JPIA) Far Eastern University (FEU) Alabang summit titled “What’s the Logo?” on 28 February 2023. The webinar focused on sustainability reporting topics.  Crystal and Sheena during the Q&A portion Crystal talked about creating long-term value with sustainability and developments in sustainability reporting and contents of the report. She emphasized the long-term value generated by sustainability reporting and the important factors to be considered in preparing sustainability reports. She also laid out a sample roadmap which contains a step-by-step process for preparing sustainability reports.  Sheena’s discussion focused on the sustainability landscape in the Philippines and the role of accountants in sustainability reporting. She highlighted the regulatory developments in the Philippines and shared an excerpt from the ‘Beyond the Bottom Line: Sustainability Reporting in the Philippines’ publication issued by SGV in 2021. She ended her talk by sharing insights about the crucial role of the accounting profession in sustainability efforts. The webinar concluded with polling questions on sustainability and a question-and-answer session between the resource speakers and the audience. CCaSS Team members Ma. Angelica Videña, Marsha Batusbatusan, and Robert Revilla assisted in preparing the materials for the webinar.

SGV Assurance Partner and PICPA National Sectoral Director for Public Practice John T. Villa (JTV) and SGV Tax Partner and PICPA Metro Manila Region (MMR) Regional Sectoral Representative for Public Practice Maricris U. See (MUS) together with PICPA National Summit on Public Practice Committee member and Tax Senior Director Meynard Sardalla and Tax Associate Director Edsel Francis Lima, organized the first PICPA National Summit on Public Practice. The PICPA National Summit on Public Practice Core Team facilitated the summit from 31 January to 1 February 2023, at the Century Park Hotel, Manila with the theme “Sustaining the Public Practice Profession in the Philippines by Playing it Forward – with Quality.” The summit covered some of the hot topics on quality assurance review (QAR), updates on the BOA accreditation, accounting and other tax topics which are relevant to public practitioners. More than 200 public practitioners from all over the country attended the summit. Meynard, Maricris, John, and Edsel at the summit Philippine Regulatory Board of Accountancy Chair Hon. Noe Quiñanola shared updates and a timeline of the Quality Assurance Review (QAR) program, while Hon. Thelma Ciudadano discussed QAR focus areas. SGV Professional Practice Director and Head of Risk Management Lucy L. Chan (LLC) highlighted the importance of an effective internal control system and risk assessment in conformity with ISA 315 (Revised) - Assessing the Risks of Material Misstatement. SGV GCR Leader Sonia D. Segovia (SDS) was also present during the event and introduced one of the resource speakers. Tax Senior Director Meynard Sardalla was the master of ceremonies for the first day of the summit. Lucy (left) and Roel (right) during their respective technical sessions Maricris moderates panel discussion on e-invoicing On the second day, PRBOA Vice Chair Hon. Atty. Samuel Padilla discussed PRC Resolution No. 53 with updates on the BOA accreditation requirements for CPAs in public practice and the education sector. SGV Accounting Standards Group and International Financial Reporting Standards Leader Roel E. Lucas (REL) facilitated the discussion on the exposure draft on IFRS for SMEs. Other resource speakers covered topics such as the economic forecast for the Philippines, common 2021/2022 SEC findings, tax implications of online transactions, and the e-invoicing system of the BIR. Maricris moderated the discussion on the challenges encountered in the implementation of e-invoicing in the Philippines. 

The SGV Clark Tax team hosted an in-person tax updates seminar with the Clark Investors and Locators Association (CILA) at the SGV Clark Office on 10 March 2023, with more than 150 attendees. The seminar focused on customs compliance, transfer pricing rules, and the electronic invoicing system for various Clark locators. Event poster Leo, Auresana, Margaux, Assistant Commissioner Janette Cruz, CILA President Dr. Frankie Villanueva, Ana, and Victor CILA President Dr. Frankie Villanueva kicked off the event by welcoming various Clark locators and delivering his opening remarks. SGV Tax Partners Atty. Victor C. De Dios (VCD) and Atty. Ana Katrina C. de Jesus (ACJ), and BIR Assistant Commissioner for Client Support Service Janette Cruz were the speakers for the seminar. They discussed updates on their respective topics while SGV Clark Partner-In-Charge and Head Atty. Margaux A. Advincula (MAA) moderated the Q&A session.  Margaux (right) during the Q&A session SGV Tax Partners with BIR RDO 21C Chief Juvy Dela Peña, BIRAssistant Commissioner Janette Cruz, and CILA President Dr. Frankie Villanueva SGV Global Compliance Reporting (GCR) Partner Hentje Leo L. Leaño (LLL), Tax Partner Auresana B. Ines (ABI), Market Group 7 Leader Jose E. Pepito Zabat (JEZ), and Tax Senior Associate Atty. Fatima Kate Garo also attended the event. BIR RDO 21C Deputy Chief Juvy Dela Peña was one of the guests. 

SGV Global Compliance and Reporting (GCR) Partner Hentje Leo L. Leaño (LLL) was recognized as one of Far Eastern University’s (FEU’s) Outstanding Alumni during the 2023 Green and Gold Awards held on 23 February as part of the celebrations of the University’s 95th Founding Anniversary at the FEU Manila Main Auditorium.  Outstanding FEU Alumnus Hentje Leo L. Leaño The awardees are accomplished alumni from the government and private sectors who are products of the various degree programs of the University, and alumni who exemplify the core values of FEU – fortitude, excellence, and uprightness. The award is given every five years to chosen alumni for their extraordinary achievements in their respective fields, bringing honor and prestige to FEU and contributing to the advancement of society.  Congratulations, Leo!

Market Group 7 Leader Jose Pepito E. Zabat III (JEZ), SGV Clark Partner-in-Charge and Head Atty. Margaux A. Advincula (MAA), and Senior Associate Atty. Ma. Jeanne Therese G. Marasigan attended the 2nd Subic/Clark Business Conference on 28 February 2023 at the Glass Pavilion, Dusit Thani Manila. The conference was held to showcase investment opportunities, discover the insights of local businesses, and analyze trends in the Subic/Clark area. Over 50 participants were present. Atty. Margaux (fifth from right) with Clark Development Corporation (CDC) President Atty. Agnes VST Devanadera, Subic-Clark Alliance for Development (SCAD) Council Executive Director Atty.  Amee Zarraga-Fabros, ICCPI President Sergio Boero, and the Clark Investors and Locators Association (CILA) Board of Directors CILA President Dr. Francisco Villanueva Jr., BDO Capital & Investments Corporation President Eduardo V. Francisco, Subic Freeport Chamber of Commerce (SBFCC) President Benjamin E. Antonio III, CDC President Atty. Agnes VST Devanadera, and Tarlac Governor Susan Yap discussed the various opportunities available for investors within Clark, Subic, and Tarlac. They also discussed the various areas for development in these areas.  Department of Trade and Industry (DTI) Secretary Alfredo E. Pascual, in his speech, mentioned the different projects the government has to assist potential foreign investors. Sec. Pascual also discussed the plans of the government to encourage more foreign investments to help maintain the growth of the economy. Atty. Margaux (second from top right) with DTI Secretary Alfredo E. Pascual and CILA and SBFCC Board of Directors The conference was organized by the Italian Chamber of Commerce in the Philippines (ICCPI), the Metro Angeles Chamber of Commerce and Industry (MACCI), the Pampanga Chamber of Commerce and Industry (PamCham), and other European chambers.