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SGV Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) Partner Benjamin “Benjie” N. Villacorte (BNV) and CCaSS Senior Director Crystal Aleli R. Cornell served as resource speakers at Bicol University’s three-day training entitled “International Webinar on Organizations' Resiliency, Inclusivity and Sustainability towards Environment, Social, and Governance (ESG)” held virtually via Zoom from 18 to 20 April 2023. BNV and Crystal led the ESG Conceptual Framework session on the second day. Crystal and Benjie receive their respective certificates of appreciation Benjie began the session with an introduction to ESG, including the relevant factors and examples of ESG-related issues, and an overview of the United Nations Sustainable Development Goals (SDGs). He also discussed the drivers of sustainability, including stakeholder expectations, regulatory requirements, and employee and consumer response. Benjie concluded his discussion with a view on the impact of sustainability on long-term value. He shared the importance of future-proofing sustainability through creating a strategic focus that benefits all stakeholders not just immediately, but also in the future. Benjie anchored his statement on a quote from Steven Varley and Steven Lewis, top executives at EY, which highlighted the need to integrate both the financial and non-financial aspects of business. Crystal, on the other hand, focused on the global landscape of sustainability reporting and the benefits of sustainability reporting assurance. She introduced the current trends in sustainability reporting, such as the increasing prevalence of environmental and social issues in business. She also discussed the existing international frameworks that companies commonly use in sustainability reporting, as well as the contents of a good sustainability report. To contextualize the topic, Crystal showcased SGV’s Beyond the Bottomline: Sustainability Reporting in the Philippines publication, which reviewed the sustainability reports of publicly listed companies in the country.  She concluded her talk by outlining relevant points and conducting an interactive activity to further drive home the concepts from her discussion. To garner commitment from the audience, the participants were asked to share a pledge to promote ESG in business and incorporate sustainability in their daily lives.

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.

SGV Clark hosted the Clark Investors & Locators Association (CILA) Strategic Trade Management Awareness (STMA) forum organized by CILA with the support of the Trade Industry Development section of the Department of Trade and Industry (DTI) on 4 May 2023, with at least 50 participants in attendance. The forum aimed to assist various Clark locators on the updated trade policies on the import and export process. (From left to right) Trade Industry Development Specialist Darrel L. Cumpas, Senior Trade Industry Development Specialist Danelle Izah G. Manitla, Trade Industry Development Specialist Chloe Andrea S. Anacan, and Supervising Trade Industry Development Specialist Jesse Carla V. De Guzman, DTI Officer-In-Charge Atty. Janice Sacedon-Dimayacyac, Chief DTI Trade Specialist Regina Samantha T. Castro, Senior Trade Industry Development Specialist Archie John T. Talaue, SGV Clark Partner Hentje Leo L. Leaño (LLL), and SGV Senior Director Leo Niño Canlas Dr. Ireneo Alvaro, Chair of CILA’s Advocacy Committee, kicked off the event by delivering the opening remarks and introducing the DTI Team led by DTI Officer-In-Charge Atty. Janice Sacedon-Dimayacyac and the representatives of the DTI Trade Development Specialists and Enterprise Relations Division. DTI Representatives discussed the STMA overview on Registration and Authorization Process and Commodity Classification and STMA Enforcement of Policies. CILA members with DTI representatives at the Strategic Trade Management Awareness Forum The presentation was followed by an open forum with DTI and Clark locators moderated by Dr. Alvaro. CILA awarded Certificates of Appreciation to the DTI Resource Speakers. SGV Clark Global Compliance & Reporting Partner Hentje Leo L. Leano (LLL) also received a Certificate of Appreciation for the Firm’s continuous support for CILA’s initiatives. Leo (center) receives Certificate of Appreciation with CILA Advocacy Committee Chair Dr. Ireneo Alvaro Jr. and CILA Director Darwin Malinit Members of the SGV Clark team present included SGV Clark Senior Director Leo Nino Canlas, Senior Associate Atty. Fatima Kate Garo, Tax Senior Director Atty. Jennyllette Dignadice, and Tax Director Atty. Erika Joy Ruiz.

SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin “Benjie” N. Villacorte (BNV) was a speaker at the Solar Energy Storage Future Philippines 2023 conference held at the Hilton Manila on 17 May 2023. The conference provided solar and energy storage players and other relevant partners, including industry experts and associations, with a platform to exchange knowledge. Benjie (fourth from right) with some of the conference participants from the CCaSS team Benjie was one of the panelists for the panel discussion on “ESG investment and Practice: Practice ESG concept and help enterprises achieve carbon neutrality goals and sustainable development.” He discussed the vital role of renewable energy in achieving the global goal of limiting global warming to within 1.5oC. He also discussed the benefits and challenges of integrating environmental, social and governance (ESG) and the role of top management in directing and developing ESG strategies.  As a closing note, Benjie emphasized the importance of collaboration to integrate ESG effectively within the organization. He was joined by co-panelists, Climate Smart Ventures Head of Transaction Advisory Matthew Carpio, United Nations Population Fund Consultant Margery Bautista, and Nomura Research Institute (NRI) Singapore - Manila Branch consultant Jonas Marie Dumdum, who moderated the panel discussion. Other members of the CCaSS team also attended the event. The conference was organized by Energy Box, a vertical media company dedicated to renewable energy. 

SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin “Benjie” N. Villacorte (BNV) joined the Association of Chartered Certified Accountants (ACCA) Asia Pacific Roundtable on International Public Sector Accounting Standards Board (IPSASB) Sustainability Reporting on 9 May 2023. The roundtable was supported by the ASEAN Federation of Accountants (AFA). Benjie with the roundtable participants Benjie provided valuable insights and perspectives, discussing experiences in sustainability reporting, challenges faced, leading practices, and potential areas for improvement. This information is intended to support the IPSASB in developing its agenda on sustainability reporting in the public sector.  Benjie emphasized that sustainability reporting enables organizations to disclose their environmental, social, and governance (ESG) performance. By sharing this information, public sector organizations offer stakeholders a clear understanding of their societal and environmental impact which is crucial in fostering accountability for actions and decisions that also affect the community.

SGV Tax Partner Auresana “Rhena” B. Ines (ABI) was a speaker at the 3rd General Membership Meeting of the Philippine Institute of Certified Public Accountants (PICPA) Southern Metro Manila Chapter (SMMC), held at the MOA Arena Annex Building (MAAX) Auditorium, Mall of Asia in Pasay City on 9 May 2023. 121 CPAs and non-CPAs joined the seminar. Rhena (center) with PICPA SMMC members Rhena provided an overview of transfer pricing in the Philippines. She discussed matters to consider when engaging with related party/intercompany transactions and preparing for a transfer pricing audit. She emphasized the need to consider various factors when engaging in intercompany transactions, such as the nature of the transaction, the functions performed by each party, and the risks involved. She also talked about the current requirement for electronic invoicing and receipting which is now mandatory for covered taxpayers along with policies and guidelines for compliance. 

SGV Tax Partner Auresana “Rhena” B. Ines (ABI) was a speaker at the Philippine Institute of Certified Public Accountants (PICPA) Western Metro Manila Chapter (WMMC) webinar on 10 May 2023 with more than 100 participants in attendance.  Event poster Rhena discussed recent issuances and tax cases related to handling BIR tax examinations. She also talked about the current electronic invoicing and receipting requirements for covered taxpayers and the guidelines, necessary steps, and policies they need to follow. She highlighted that while the BIR tax examination process is complex, businesses can navigate it successfully with proper preparation and documentation and that their compliance with the electronic invoicing and receipting guidelines is crucial.

EY Latin America North Tax Technology & Innovation Leader Luis D. Beltran Farias (Mexico), Tax Policy for Government Services Partner Richard Stern (US), and Asean Tax Leader Amarjeet Singh (Malaysia) together with SGV Tax Leader Fabian K. Delos Santos (FKS), SGV Clark Partner-In-Charge and Head Margaux A. Advincula (MAA), and Tax Partners Cheryl Edeline C. Ong (CCO) and Thyrza F. Marbas (TFM) joined a Consultative Meeting with the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) on the Digital Transformation Initiatives in ASEAN at the BIR National Office Building (NOB) in Diliman, Quezon City on 19 April 2023. SGV Partners and EY Global and Asean Leaders with BIR leaders and representatives The EY Global and Asean Leaders and consultants from the different regions shared their experiences on the role of tax intermediaries, data analytics, and e-tax audits in the digital transformation of tax administrations. The participants shared insights on how digital solutions can enhance tax collection, reduce fraud, and improve taxpayer experience. The consultative meeting aimed to discuss the digital transformation initiatives in ASEAN and how other countries have implemented them. It also discussed the challenges and opportunities brought about by digital transformation in the ASEAN region and explored ways to leverage technology for tax administration and compliance. 

The SGV Business Tax Services team headed by SGV Tax Partner Cheryl Edeline C. Ong (CCO) held a webinar on “How to Hurdle your BIR Audit” on 28 April 2023. SGV International Tax and Transaction Services (ITTS) Partner Atty. Auresana “Rhena” B. Ines (ABI) was the resource speaker for the webinar which was attended by 175 clients and non-clients from various industries.  SGV Partners and participants during the webinar ABI discussed how to navigate the complexities of BIR audits, providing valuable insights and practical tips to help participants prepare for and successfully hurdle these audits. The topics discussed in the webinar were highly relevant and informative, covering tax issuances and jurisprudence essential for businesses.  SGV Tax Partners Cheryl Edeline C. Ong and Auresana B. Ines (center) with the Business Tax Services team Rhena also delved into common tax audit issues that businesses face, such as discrepancies in financial statements or incomplete documentation. She provided practical tips on how to handle these issues effectively, including maintaining accurate records and responding promptly to audit requests.  Members of the SGV Business Tax Services team Members of the organizing team included Ala Mei T. Domingo, Ernest Adrian F. Co, Jasmine Ann A. Rosit, Katelene D. Alianza, Kara Marie Angela R. Bagunas, Kimberly Camille G. Mendoza, Kristina Mae V. Cueto, Lou Delianne I. Reboja, Marla Arielle B. So, Niño Louis M. Belarma, Ron Christian T. Eupeña, Tom Lui M. Estrella, Wilfred P. Alfeche, Lei Christianne O. Delos Angeles, Honey Grace O. Carlos, and Cristine Limho.

SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin “Benjie” N. Villacorte (BNV) was a speaker at the International Climate Partnership 2023: Forum on Reforestation, Waste Management, and Carbon Trading, which was organized by the Climate Change Commission through the Office of Commissioner Albert P. Dela Cruz. The forum was held at the Marriott Hotel, Clark, Pampanga on 2 May 2023. It aimed to address climate emergencies, reduce global greenhouse gas emissions, and build adaptive capacities of communities to climate change.  SGV CCaSS Partner Benjamin N. Villacorte receives a plaque of appreciation from His Excellency, Business Management Office of the Embassy of United Arab Emirates in the Philippines Executive Director Zulfiquar Ghadiyali (center) and Climate Change Commissioner Albert dela Cruz (far left) Benjie introduced SGV and its Climate Change and Sustainability Services to local and international participants and discussed the role of accountants and assurance in climate change and how audits are important in preventing greenwashing.  He also talked about the importance of the Internationally Transferred Mitigation Options (ITMOS) and recent developments on carbon markets, particularly the recent adoption of Article 6 of the Paris Agreement. Benjie highlighted the potential of ITMOS for the Philippines to generate more climate financing and other opportunities to realize its climate ambitions. (From left to right) SGV CCaSS Partner Benjamin N. Villacorte, Associate Director Judd P. Tablazon, and Senior Associates Russel James S. Andrade and Louie Adrianne R. Cediño at the International Climate Partnership 2023 Forum Other experts from Taiwan, Singapore, and the Philippines also shared recent developments on carbon trading while climate partners from the academe, people’s organizations, and local government units also shared their experiences on reforestation, landfill management, and climate education.