2023

SGV Global Compliance and Reporting (GCR) Senior Director Meynard L. Sardalla served as a resource speaker at the General Membership Meeting (GMM) of the Association of Hotel and Restaurants Finance Officers of the Philippines (AHARFOPHIL) on 27 July 2023 at Ascott Bonifacio Global City. Finance and accounting officers of member restaurants and hotel properties across the Philippines attended the meeting. SGV GCR Senior Director Meynard L. Sardalla at the AHARFOPHIL GMM Meynard talked about common BIR findings for hotels and restaurants and provided relevant tax updates applicable to the hospitality industry. He also discussed the pending bill on taxation of digital services and its implications for hotel and restaurant operators. Sonia (third from left) with Meynard (center) as he accepts his certificate of appreciation from AHARFOPHIL Market Group (MG) 7 Leader Jose Pepito E. Zabat, GCR Leader Sonia D. Segovia, and Senior Managers Grail B. Ragos and Marc Bonnie B. Wong were also present at the GMM.

SGV Indirect Tax (IDT) Principal Atty. Alden C. Labaguis moderated the Aguhon 2 Leadership Summit Plenary Session organized by Public Administration students from the Polytechnic University of the Philippines (PUP). The event, titled "Lost in the Woods: Exploring the Uncertainty Towards Effective Leadership," was held at PUP Sta. Mesa on 29 July 2023. Event poster Professor Ralph Reuben C. Morales gave the opening remarks, followed by Anti Red Tape Authority (ARTA) Usec. Gerald Divinagracia’s discussion on the latest updates and reforms of the ARTA, and the Plenary Session moderated by Alden.  Alden facilitated discussions on responsible leadership and its link to good governance. The speakers shared their insights on the challenges posed by the rapidly changing environment in the Philippines, making effective governance and ethical leadership challenging. They also discussed their experiences with accountability, transparency, and ethical decision-making in the country. The speakers concluded the session by sharing strategies on how to promote responsible leadership, integrity, and good governance practices in the Philippines. The Plenary Speakers were Usec. Gerald Divinagracia, Former Kabataan Partylist Representative Sarah Jane Elago, incumbent Baguio City Mayor Benjamin Magalong, Kaya Natin Movement for Good Governance Board Member Jess Lorenzo, and RTI International Senior Technical Adviser Jaime Bonifacio Jr.  Malcolm Law Partner Atty. Alex Lacson concluded the event by delivering an inspirational message to the attendees. About 200 students from PUP and other universities attended the session. The coordinating team for SGV was led by IDT Associate Director Atty. Lauren Antonette M. Mendoza, assisted by IDT Senior Associates Atty. Kierk Robin M. Ret and Atty. Natividad G. Busa.

SGV Global Compliance and Reporting (GCR) Partners Hentje Leo L. Leaño and Joanna T. Dela Chica were resource speakers on the topic of Value-Added Tax (VAT) in SGV Makati’s Tax Basics Seminars (Tax BaSe) series held at the Washington SyCip Development Center (WSDC). Leo was also a speaker in the Clark leg of the series held at the SGV Clark Office. There were 133 participants in Makati and 60 in Clark. Leo discusses CREATE Act VAT updates Joanna (left) discusses input VAT substantiation requirements The sessions focused on providing the participants with an updated and in-depth understanding of the basic concepts of VAT and the VAT filing and administrative requirements. Leo and Joanna’s discussions highlighted the VAT provisions of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and updates on the related BIR issuances, especially their impact on Ecozone locators. For the Clark sessions, Leo focused on the impact on entities registered with the Clark Development Corporation (CDC) and the Subic Bay Metropolitan Authority (SBMA), and other Ecozone locators. Leo (right) at the Clark leg of the SGV Tax BaSe series SGV Clark Partner-in-Charge Atty. Margaux A. Advincula delivered the opening remarks, while Market Group 7 Leader Jose Pepito E. Zabat delivered the welcome remarks in Clark.

SGV Clark Partner-In-Charge Atty. Margaux A. Advincula and SGV Global Compliance and Reporting (GCR) Partner Hentje Leo L. Leaño were speakers in the Tax Compliance Seminar hosted by the Philippine Stationers Association, Inc. (PSAI) held on 9 August 2023 at the Diamond Hotel Manila. Leo (left) and Margaux (right) with PSAI officers Leo and Margaux discussed common tax compliance issues encountered by taxpayers. They provided tips on dealing with Bureau of Internal Revenue (BIR) audits and updates on recent tax-related issuances from the BIR.

SGVeans participated in the 2023 Philippine Institute of Certified Public Accountants Metro Manila Region (PICPA MMR) Annual Planning Conference (APC) held at the Baguio Country Club in Baguio City. CPAs representing the Metro Manila region, geographical area office (GAO), and chapters gathered to plan for fiscal year 2023-2024. SGV was one of the gold sponsors of the event. SGV Current and Alumni Partners at the Induction and Turnover Ceremonies PICPA MMR Council Chairman and Global Compliance and Reporting (GCR) Leader Sonia D. Segovia along with former PICPA National President Marydith C. Miguel and other SGV Partners Henry M. Tan, John T. Villa, Peter John R. Ventura, Meynard A. Bonoen, Shane D. Tanguin, Aileen L. Saringan, Emelita L. Villanueva, Maricris U. See, Hentje Leo L. Leaño, Francis J. Ricamora, Michael A. Madlangbayan, and Don Don T. Mojica attended the two-day conference. They were also joined by Alumni Partners Gerard B. Sanvictores and Leonardo J. Matignas. Meynard and Sonia with other SGV attendees  Tax Senior Director Meynard L. Sardalla led the APC Committee as its Chairman. Other SGV attendees were Tax Senior Director Marivic M. Rebulanan, Tax Associate Directors Arviey L. Agra and Mica Alyana C. Rivera, Assurance Director Leo Nino F. Punzalan, Assurance Associate Directors Strawberry F. Eduarte and Michelle Joy P. Lopez, Tax Senior Associates Leanne Aila T. Monserate and Daryll A. Calatong, and Tax Associates Rob Miguel C. Manapsal, Dan Ryan A. Tabifranca, and Rachelle Viola L. Romualdo. Induction of PICPA MMR Council officers FY23 The 2023 PICPA MMR APC delegates participated in numerous technical sessions and planning events. The session focused on collaboration and teaming, integrative leadership, reinforcing integrity and professionalism, the importance of discipline, and understanding the roles of the officers with respect to the organization and its members.

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.

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.

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 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.

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.