News

RGS elected ACIIA President  SGV Senior Adviser Rebecca G. Sarmenta (RGS) was elected President of the Asian Confederation of Institutes of Internal Auditors (ACIIA), making her the third Filipino to assume the role. She will serve as the President of the organization for 2020-2021 and will continue to support the ACIIA’s vision to be the regional voice of the internal auditing profession by advocating the organization’s values, promoting best practices, and providing exceptional service to its members.  Prior to her appointment, RGS was the Vice President of the ACIIA in 2019 and the Chairman of the Institute of Internal Auditors Philippines (IIAP) in 2015. Her valuable experience includes working with private companies and government agencies in developing rules and regulations for their internal audit function, and risk and governance practices. She specializes in risk management services, internal audit services, business process reviews, and operational performance reviews.  Congratulations, RGS! 

SDS joins ACPAPP National Convention  Tax Partner and Association of Certified Public Accountants in Public Practice (ACPAPP) Director Sonia D. Segovia (SDS) participated in the ACPAPP National Convention last 30 September. With the theme Empowering CPAs towards Professional Excellence and Quality Service, the convention discussed the issues accountants face and the best practices they can consider to prepare for a world beyond the pandemic.   SDS presenting at the ACPAPP National Convention  SDS joined the first technical session titled Understanding the Philippine Qualifications Framework (PQF) for CPAs in Public Practice. She introduced speaker Board of Accountancy Member Hon. Arlyn Villanueva who discussed the PQF for the accountancy profession and the career progression and specialization program for CPAs in public practice. SDS also moderated the session’s open forum.   Participants at the Convention included SGV Chairman and CMP Wilson Tan; Senior Assurance Partner Itos Cruz; Market Group 2 Leader Marydith Miguel; Learning and Development Leader and Assurance Partner Clairma Mangangey; and Assurance Partners ACPAPP Foundation Board of Trustees Member Peps Zabat, ACPAPP Committee on Accounting and Auditing Standards Chairperson Leovina Villa-Chu, John Villa, Aileen Saringan, Cyril Valencia, and Djole Garcia; and Senior Director Arlan Desembrana.   

SGV Partners participate in PICPA Risk Summit  Several SGV Partners took part in the first-ever Philippine Institute of Certified Public Accountants (PICPA) Risk Summit last 1-2 October. With the theme Business Unusual during COVID-19 Pandemic and Beyond, the summit discussed the pandemic’s impact on businesses and provided sessions on information security, digital platforms, navigating investment risks, and coping beyond adequate business continuity programs. Over 600 participants from the commerce and industry, academic, and government sectors attended the event.   MUS and MCM presenting at the Summit  SGV Tax Partner and PICPA Southern Metro Manila Chapter President Maricris U. See (MUS) delivered the opening remarks on the Summit’s first day and emphasized the value of embracing change to strengthen resilience and enhance professional and personal growth. Market Group 2 Leader and PICPA National Executive Vice President Marydith C. Miguel (MCM) welcomed participants to the second day of the Summit and highlighted the role of professional accountants in strengthening their organizations’ adaptability and resilience.  CGD, CGL and LJM presenting at the Summit  Consulting Partner Carlo G. Dimarucut (CGD) discussed information security risks in digital transformation and alternative work arrangements. EY ASEAN Risk Management Leader, SGV Chief Risk Officer, and Consulting Partner Leonardo J. Matignas (LJM) discussed audit and risk considerations for online platforms and digital environments. Financial Services Consulting and Government and Public Sector Leader Christian G. Lauron (CGL) moderated a session on managing investment risks during the pandemic.  

SGV recognizes Loyalty  SGV also honored its loyal employees during its 74th Anniversary. Loyalty Awards were presented to longtime staff for their outstanding and dedicated years of service to the Firm.  Loyalty Awards are given to those who have served the Firm for 10, 15, 20, 25 and 30 years.     25- and 30-year Loyalty Awardees     The 25-year loyalty awardees were Assurance Partner Editha Estacio, Tax Partner Reynante Marcelo and Tax Principal Veronica Santos.   The 30-year awardees were Tax Leader Fame Delos Santos, People Advisory Services Senior Director Elena Manuel, Finance Assistant Director Tita Medina, Executive Secretary Ma. Ester Rodriguez, Vice Chair and Deputy Managing Partner Vivian Ruiz, and Business Services Group (BSG) Assistant Director Marilyn Uy.   Kudos to all our loyal partners and staff! 

Tax Associate named SGV’s first Young Tax Professional of the Year  SGV Tax Associate Leanne Aila Monserate from SDS cluster was named the Young Tax Professional of the Year (YTPY) Philippines 2020 last 12 October. The local competition consisted of panel interviews, case studies and oral presentations. Judges during the first panel interview were Tax sub-service line leaders, while judges for the final part of the competition were Tax Leader Fame delos Santos, Consulting Leader Rossana Fajardo, Strategy and Transactions Leader Noel Rabaja, and Market Group 8 Leader Jun Torres. The other YTPY Philippines finalists were Tax Associates Charmaine Joyce Yu, Denise Marbella and Kyra Montalbo.    Leanne Monserate  Leanne will represent the country in the Global YTPY competition on 23-24 November. EY Young Tax Professional of the Year is an international competition designed to reward and foster the next generation of tax leaders. The global winner will receive a 30-day world business trip, including 10 days of organized visits to EY centers in key markets.   Good luck, Leanne! 

WPT opens MBC webinar session  SGV Chairman and CMP Wilson P. Tan (WPT) was featured in the third session of the MBC webinar series titled Leading in Extraordinary Times on 6 October. The series features top CEOs as they share the challenges that they have faced and the solutions they have developed to respond to the issues caused by the pandemic. MBC Executive Director Coco Alcuaz welcomed MBC members and executives to the session.   WPT presenting at the MBC webinar  WPT delivered the opening remarks and discussed the measures that SGV has implemented to ensure business continuity and resilience. He spoke on the value of digital transformation and encouraged participants to integrate this into their corporate strategies and foster a culture of innovation in their organizations. 

Alumni Partners attend virtual Executive Briefing  SGV hosted an executive briefing for its Alumni Partners last 25 September. The briefing focused on the challenges that businesses continue to face during the pandemic. Chairman and Country Managing Partner Wilson Tan delivered the opening remarks and emphasized that organizations should reshape their businesses to prepare for a world beyond the pandemic.   Speakers and participants at the Executive Briefing  SGV Strategy and Transactions Consultant Alex Dacanay began the session with an overview of the Philippine economy. He discussed the pandemic’s impact on businesses and consumer spending. He also provided an overview of the government’s programs and issuances aimed at strengthening health services and supporting low-income communities.   SGV Consulting Leader Rossana A. Fajardo (RAF) discussed the pandemic’s future impact across four domains: the global order, societies and economies, firms and markets, and households and individuals. She explained how the pandemic will affect globalization, urban landscapes, talent management, and individual lifestyles. She also emphasized the value of digital transformation to drive innovation and growth within an organization. RAF also presented principles that business leaders can follow to guide their organization through and beyond the pandemic. 

CCaSS holds virtual signing ceremony with PCEx  SGV’s Climate Change and Sustainability Services (CCaSS) Team, led by CCaSS Partner Benjamin N. Villacorte (BNV), organized a virtual signing ceremony with Plastic Credit Exchange (PCEx). The ceremony formalized the Firm’s engagement with PCEx aimed at upholding transparency and driving long-term growth in the organization.     Nanette Medved-Po and Richard De Guzman presenting at the virtual signing ceremony  PCEx Founder Nanette Medved-Po welcomed participants to the event and thanked SGV for supporting the organization’s core sustainability initiatives that aim to deliver solutions to global environmental issues. PCEx Sustainable Community Development Manager Richard De Guzman moderated the session and provided an overview of the organization’s services and operations. He discussed their plastic offsetting and crediting program and plastic neutral certification process which aim to help businesses reduce plastic waste and achieve plastic neutrality.   CCaSS Senior Associate Yna Antipala then presented an overview of SGV’s CCaSS offerings and solutions, including the EY Sustainability Assurance Methodology. BNV delivered the closing remarks and emphasized the Firm’s commitment towards building a future with economic stability and environmental security.   SGV Partners and staff with Nanette and Richard during the virtual signing ceremony  Participants at the event included SGV Chairman and Country Managing Partner Wilson Tan, Vice Chair and Deputy Managing Partner Vivian Ruiz, Learning and Development Leader and CCaSS Partner Clairma Mangangey, Market Group 7 Leader Aris Malantic, Assurance Senior Partner Itos Cruz, and Tax Partner Sonia Segovia.   PCEx is a non-profit organization that partners with sustainability-conscious businesses around the globe to responsibly offset their plastic footprint and reduce the flow of plastic waste into landfills and oceans. 

Clark conducts CREATE webinar with AFAB  SGV Clark and Tax Partners Hentje Leo L. Leaño (LLL) and Margaux A. Advincula (MAA) led a tax briefing on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill for members of the Authority of the Freeport Area of Bataan (AFAB). AFAB Administrator Engr. Emmanuel D. Pineda welcomed over 80 representatives from different companies and organizations to the event.  LLL and MAA presenting at the AFAB webinar  The speakers discussed the latest updates on the CREATE bill, including its salient features and its potential impact on the Bataan locators. They also explained the proposed adjustments in corporate tax and rationalization of fiscal incentives.   Participants included AFAB Registration Division OIC Alejandro Sugatain, Enterprise Services Officer IV Krizzia Katrina Ocampo, Attorney III Reshel Amor Apigo, Atty. Kara Herrera of the Office of Congressman Jose Enrique Garcia, and SGV Clark Partner-In-Charge Peps Zabat. The webinar was moderated by Tax Associate Director Michael Ray Lapasaran. 

Consulting holds Risk Management webinar   SGV’s Consulting team organized a webinar titled Managing Third-Party Risks using Service Organization Controls (SOC) reports – COVID-19 Considerations on 24 September. The webinar provided a high-level overview on how organizations can manage risks in processes outsourced to third-party service providers through SOC reports.  Consulting Partner Allan W. Ocho (AWO) provided an overview of Trust by Design, a methodology that helps businesses build mutual trust between their company and their third-party service providers. He discussed the key drivers, trends, risks and benefits of third-party risk management, emphasizing the third-party risk assessment process and execution.   AWO and RKC with the Consulting webinar organizing team  SGV Business Consulting Leader Ryan K. Chua (RKC) provided an overview of SOC Reporting, its benefits, importance, and relevance to stakeholders. He also presented sample case studies of SOC Reporting in incident management and payroll processing, among others. He then spoke on the challenges that businesses and their third-party service providers encounter during the pandemic, emphasizing changes to systems and controls. He ended the discussion by presenting action steps that participants may implement in their organizations to maximize SOC Reporting and effectively manage third-party risks.    Over 260 chief risk and compliance officers from various industries, such as banking & capital markets and wealth and asset management sectors, attended the event. Consulting Manager Ma. Isabel Herrera moderated the session. The webinar’s organizing team included Consulting Senior Manager Dara Ledda Urbiztondo, Senior Associates Michelle Helena Uy and Joshua Salvador, and Associate Bianca Monalize Pagarigan.