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Climate Change and Sustainability Services (CCaSS) Directors Diana Sadili-Chu and Ricky Maulion Jr. served as speakers at the 21st Annual Business Leadership Program (BLP) organized by The American Chamber of Commerce of the Philippines, Inc. (AmCham) on 2 June 2023. Thirty students from different regions in the country, representing a variety of courses and academic disciplines, attended the intensive immersion program which allowed them to interact with leading businesses and top executives in the Philippines. Diana talks about sustainability (Photo courtesy of AmCham) Diana opened the session by introducing SGV CCaSS to the participants and discussing the relevance of sustainability in today’s world. She highlighted the benefits of sustainability reporting, its drivers and the reporting process, and the key topics that may be found in a company’s sustainability reports. Diana also briefly touched on the significance of assurance in sustainability reporting and how it supports the integrity and credibility of sustainability reports. Ricky interacts with some of the participants (Photo courtesy of AmCham) Ricky discussed the future of sustainability reporting and how local regulations are impacted by global developments in the reporting landscape. He shared the building block approach of the International Sustainability Standards Board and an overview of the content requirements of the upcoming International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards. To engage the participants, he facilitated an interactive session which emphasized key lifestyle advice and recommendations for everyone to create a positive impact on sustainable development. Diana and Ricky concluded the session by addressing questions from the participants.  AmCham BLP 2023 speakers, organizers, and participants (Photo courtesy of AmCham)  Through the AmCham BLP program, the students were able to gain a better understanding of how businesses contribute to national development as well as a broader perspective on important global business and economic challenges that would be useful to them in the future. 

Members of the SGV Tax team participated in the Association of Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) Finance Executives (ASEFEX) Online Q2 General Membership Meeting (GMM) on 26 May 2023. Event poster SGV Strategy and Transactions (SaT) Partner Marie Stephanie “Steph” C. Tan-Hamed (MTH) led the discussion on Digital Government: Creating Real Connections while IDT Senior Director Atty. Jo Ann Marie O. Casio talked about recent Customs updates. Steph highlighted the results of an EY study conducted on connected citizens. She also listed the seven citizen personas in connection with the government’s provision of digital services and described the four priorities of the government to address digital challenges. Atty. Jo Ann provided an in-depth explanation on recent Customs updates. She discussed the five Point Priority Programs under the new administration as well as some Bureau of Customs (BOC) updates. She expounded on the laws and regulations on Customs Bonded Warehouses, ATA Carnet System, and the Guidelines in the Implementation of the Liquidation and Billing System and Post-entry Modification of SAD by the Liquidation and Billing Division or Equivalent Unit.   Logistics Market Sector Leader and Indirect Tax (IDT) Partner Atty. Stephanie V. Nava (SVN), Technology Market Sector Leader and Assurance Partner Manolito R. Elle (MRE), International Tax and Transaction Services (ITTS) Partner Atty. Auresana B. Ines (ABI), and IDT Principal Atty. Alden Patrick C. Labaguis (ACL), in association with IDT Senior Associates Atty. Andrea Nicole C. Loreno and Jan Carlo K. Azada Chua coordinated participation in the online event.

The SGV Financial Services Organization (FSO) team relaunched its FSO University Lecture Series and Career Talks in May. The team conducted two sessions on different topics at the SGV Cebu Office and at the Ateneo de Manila University, Loyola Heights Campus. These sessions were also streamed via MS Teams and Zoom, respectively. FSO University Lecture Series Part 1 – Cebu leg invitation SGV FSO Leader and Business Consulting Partner Christian “Ian” G. Lauron (CGL), SGV FSO Senior Managers Cathy Biliran and Russel Ailes, and SGV FSO Managers Anderson Bondoc and Monica Perdices were the speakers in the Cebu leg entitled Financial Services: Industry Direction, Enabling Technologies, and Regulatory Developments.  Ian welcomed the participants from Cebu universities and provided an overview of the series. He also moderated the Q&A session and delivered the closing message. FSO team members Monica, Anderson, and Russel talked about the Philippine banking system, data and technology, and regulatory, risk and reporting developments, respectively, while Cathy gave an overview of the Firm and its service lines.  FSO University Lecture Series Part 2 – Ateneo leg poster FSO University Lecture Series Part 2 – Ateneo leg speakers The second leg of the series held in Ateneo was entitled Financial Services: Mathematical Finance, Actuarial and Data Science. The main speakers were Ian, SGV FSO Senior Manager Dominique Raissa “Nikki” Torralba, SGV FSO Managers Kristine Faith Valle, Jan Vincent Ybut, and Elijah Jesus Puaben, and SGV Talent Associate Moriel Isurda. SGV Consulting Partners Francisco Roque “Francis” A. Lumbres (FAL) and Anurag Mishra (AM) were also present as resource persons.  FSO University Lecture Series Part 2 – Ateneo leg speakers Christian G. Lauron, Elijah Puaben, Nikki Torralba, Moriel Isurda, Faith Valle and Jan Vincent Ybut with some of the participants Ian delivered the welcome address. He highlighted the importance of Financial Services Risk Management and the role of the FSO team. Francis and Anurag also shared their working experiences. The speakers discussed various case studies in the financial service industry, covering Risk Management, Financial Instruments, Sustainable Finance, Industry Transformation, Artificial Intelligence and Machine Learning, respectively. Moriel talked about internships and career opportunities in the Firm. The FSO University Lecture Series and Career Talks series will continue to be conducted in other schools and universities. 

SGV Tax Senior Director Atty. Anne Margaret E. Momongan-Lim and SGV Global Compliance & Reporting (GCR) Associate Directors GJ Robin F. Cobosa and Athena Mae Luce were resource speakers at the Cebu Chamber of Commerce and Industry (CCCI) and Philippine Institute of Certified Public Accountants (PICPA) Cebu Chapter Tax & Accounting Business Cliniquing Session on 14 and 16 May 2023. Seventy participants from 24 companies attended the session, which aimed to enhance the knowledge and understanding of members of the Cebu business community on tax and accounting standards compliance. GCR Associate Directors GJ Cobosa and Athena Luce with CCCI Business Development Officer Karen Autor Atty. Anne receives certificate of recognition GJ and Athena discussed determining compliance bottlenecks in management, planning and control in the first session while Atty. Anne discussed determining compliance bottlenecks in finance and accounting in the second session. They provided practical tips on how to identify and address potential issues before they become major problems. The SGV team for the session also included Atty. Ron Christian T. Eupeña and Atty. Geremae M. Mata. The sessions provided networking opportunities and kept the attendees updated on finance and accounting developments.

SGV Business Consulting Partner Conrad Allan M. Alviz (CMA) was a speaker at the 5th Joint Accountancy Research Summit organized by the Philippine Institute of Certified Public Accountants (PICPA) on 26 May 2023. Over 250 accountants and accountancy students attended the event. Conrad during the Summit SGV Assurance Partner and PICPA event Chair Marydith C. Miguel (MCM) kicked off the event by delivering the opening remarks. SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) spoke about the emerging trend on sustainability and the importance of sustainability reporting in organizations.  Wilson shares his message on sustainability reporting Conrad talked about the global Environmental, Social and Governance (ESG) landscape and the current regulatory developments on sustainability in the country. He discussed the findings in the SGV publication, Beyond the Bottomline 2022, on the review of the sustainability reports of publicly listed companies. He also talked about the development of the International Sustainability Standards Board (ISSB) and its proposed International Financial Reporting Standards (IFRS) sustainability disclosure standards, which are expected to be published in the second quarter of 2023. Toward the end of his discussion, Conrad talked about the role of accountants in achieving consistent metrics, integrating accounting and finance functions, providing assurance over climate reporting and disclosures, serving as consultants in the sustainability space, and advocating for sustainability.

SGV Business Tax Advisory Senior Atty. Ernest Adrian F. Co joined the European Chamber of Commerce of the Philippines (ECCP) Cebu Business Council Meeting held at Harolds Evotel Cebu on 15 May 2023. Twenty-four participants and business leaders from different sectors attended the event.ECCP Cebu Business Council Meeting participants pose for a group photo Atty. Ernest talked about the Bureau of Internal Revenue's (BIR’s) tax collection goals and results from 2019 to present, and how the BIR is becoming more aggressive in its tax collection efforts. ECCP Cebu Branch Officer Jillian Sitchon provided advocacy updates, outlining significant interactions with both the Philippine and European governments. She also discussed important advocacy issues that were addressed at courtesy and luncheon meetings with various department secretaries in the Philippines. ECCP Senior International Trade Fairs Officer Dawn Cabigon introduced ECCP subsidiary company Fairs & More, Inc. (FMI), which aims to promote international trade fairs and provide opportunities for local businesses to showcase their products and services on a global stage. Business leaders from Asia Select, AWC Philippines, Belmont Hotel Mactan, Bottega 8290 Architectural Design Services, Dusit Thani Mactan Cebu, Eastern Communication, FPT Software, Harolds Hotel, IONOS (Philippines) Inc., RAFI – Ramon Aboitiz Foundation Inc., Regus Philippines – Cebu, RISE, Citadines Cebu City, and Spring Rain Global Consultancy also attended the meeting.

The Climate Change and Sustainability Services (CCaSS) team hosted the April Sustainabits session on “Sustainable Fashion: Making Fast Fashion Out of Fashion.” This is in line with the SGV Sustainable Actions for Value Creation and Enablement (SAVE) Council’s Earth Day initiatives to celebrate this year’s theme, “Invest in Our Planet.” Two hundred ninety-eight SGVeans attended the virtual session on 28 April 2023. CCaSS team talks about sustainable fashion SGV Chief Sustainability Officer Clairma T. Mangangey (CTM) welcomed the participants to the session and talked about the current trends of clothing overconsumption and the benefits she experienced in clearing her closet for the SAVE Council’s clothing donation initiative. For the rest of the session, CCaSS Manager Ricardo Maulion, Senior Associate Maria Margarita Dela Cruz, and Associate Gregory Ryan Tan presented topics highlighting the importance of sustainable fashion in addressing the detrimental effects of fast fashion, and they shared ways on how the participants could incorporate sustainability into their wardrobes. The session highlighted sustainable fashion as one of the six ways endorsed by Earthday.org that are key to investing in the planet. The presenters introduced the definition of sustainable fashion and how this aims to reorient the current fashion life cycle. The session included video presentations and a discussion on the harmful impacts of fast fashion to people and the environment. The presenters also identified sustainable choices SGVeans can make when shopping for clothes and ensuring their clothes are cared for and could last longer. SGVeans were then encouraged to build their own capsule wardrobes with sustainable fashion brands.  To summarize the learnings from the session, the presenters provided simple reminders on how SGVeans can make their wardrobes more sustainable, then capping off with a declaration of their commitment to leading a sustainable lifestyle by practicing sustainable fashion. The SAVE Council’s Sustainabits initiative is a series of half-hour webcasts covering ideas, movements, principles, and leading industry practices regarding sustainability, social equity, and climate change.

The SGV Financial Accounting Advisory Services (FAAS) team was among the global winners for the second round of the Global FAAS Innovation Competition. They were selected from among 45 global entries as part of the top 11 Round 2 finalists for the Asia Pacific (APAC) winner.  FAAS team winners The FAAS team is composed of FAAS Senior Manager Anna Maria Rubi B. Diaz and FAAS Managers Jerwin Esquibel, Dwayne Justin Ignacio, Sheena Dyan Suarez, Gabrielle Andrea Fajardo, Patricia Jazmin Patricio, and Marilen Quicio. The Global FAAS Innovation Competition aims to drive innovation and new ideas in the global FAAS practice. The SGV FAAS team’s submission will advance through a Global FAAS Leadership Panel Review that will determine the Global Finalists. Congratulations, SGV FAAS team!

SGV Cebu Partner-in-Charge Margem A. Tagalog (MAT) and SGV Tax Senior Director Atty. Anne Margaret E. Momongan-Lim served as speakers at a conference organized by the Philippine Institute of Certified Public Accountants (PICPA) Cebu Chapter entitled Reducing Roadblocks: Relaxing Foreign Business Ownership in the Philippines & Exposure Draft - Third Edition of the International Reporting Standards (IFRS) for small and medium-sized enterprises (SMEs) Accounting Standard held at the Mezzo Hotel on 16 May 2023 with 92 participants. Margem during her presentation (From left to right) Atty. Kara Bagunas, Atty. Geremae Mata, Atty. Anne Momongan-Lim, and PICPA Cebu Chapter Seminar Organizing Team members Margem discussed the third edition of the IFRS for SMEs, its benefits and challenges, and regulatory reforms for attracting foreign investors, enhancing competitiveness, and promoting business-friendly environments.  Atty. Anne discussed reducing roadblocks by relaxing foreign business ownership in the Philippines. She emphasized the value of easing restrictions on foreign ownership in the Philippines to attract investments and promote sustainable economic development through streamlined processes. Atty. Aaron James C. Melendez was a member of the SGV organizing team.

SGV Vice Chair and Deputy Managing Partner Vivian C. Ruiz (VCR), Markets Leader Vicky L. Salas (VLS), Climate Change and Sustainability Services (CCaSS) Partner Benjamin “Benjie” N. Villacorte (BNV), Business Services Group Leader Alvin M. Pinpin (AMP), Market Group (MG) 1 Leader Michael C. Sabado (MCS), and MG 8 Leader Narciso “Jun” T. Torres, Jr. (NTT) joined the Makati Business Club’s Global Leaders Series 2023 Healthcare Forum on 16 May 2023 at the New World Makati Hotel. The event was sponsored by SGV. (From left to right) Alvin, Michael, Jun, Dr. Wilson, Nigerian Ambassador to the Philippines H.E. Folakemi Ibidunni Akinleye, Vivian, Benjie, and Vicky pose for a photo at the MBC’s Global Leaders Series 2023 forum Vivian delivered the opening remarks. UnitedHealth Group Executive Vice President and Chief Medical Officer Dr. Margaret-Mary Wilson was the guest speaker. Dr. Wilson discussed strategies for leading a global healthcare company through crisis. She highlighted that the government and the private sector must work together to provide proper healthcare in any country. According to her, everyone deserves access to safe, equitable, and affordable healthcare. Dr. Wilson suggested that leaders need to be more visible to promote diversity, especially those from minority or marginalized groups. Moreover, she said that authenticity, a dynamic culture, and the initiative that comes with not fearing failure is key to management and leadership. She also emphasized the importance of building models that are dynamic, agile, and flexible. She added that artificial intelligence and other technology can help speed up bureaucratic processes, but they will not replace humans. (From left to right) Alvin, Michael, Jun, Founder and Chairman Emeritus of the CARD Mutually Reinforcing Institutions Dr. Jaime Aristotle Alip, Nigerian Ambassador to the Philippines H.E. Folakemi Ibidunni Akinleye, Vivian, Benjie, and IBM Philippines President and Country General Manager Aileen Judan-Jiao pose for a photo at the MBC Global Leaders Series 2023 forum The lecture was followed by a brief question-and-answer portion and an open discussion. Dr. Wilson joined MBC Executive Director Francisco Alcuaz, Jr. for a conversation after the open discussion. MBC's Global Leaders series aims to help Philippine executives evaluate, implement, and compete globally through meeting and learning with world leaders from different industries to improve Filipino lives. UnitedHealth is the biggest healthcare company in the United States and is a member of the Makati Business Club.