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SGV Davao Partner-in-Charge Jose Raoul Balisalisa was the guest speaker at Ateneo de Davao University’s Pinning Ceremony for 4th Year BS Accountancy students on 19 August 2023. The ceremony signaled the start of the students’ internship period with different companies, including SGV & Co. About 300 people, including the parents and guests of the students, were present. Raoul during his pinning ceremony speech Raoul’s message was centered on the theme “BUKANG-LIWAYWAY: Transforming Future Accountants, through Challenges and Opportunities.” Apart from sharing his personal experiences as an alumnus of the university and as an accountant, Raoul spoke briefly about SGV, its values, service lines and Nurturing Leaders Internship Program. He shared examples of realities in the workforce as well.  Raoul receives plaque of appreciation Raoul (center) with ADDU faculty and students during the group picture-taking  He concluded his speech by advising the students to not only build a career for themselves, but to also build character. He said that this would help them become more resilient and adaptive to change while overcoming challenges in the business world.

SGV Leaders, Partners, and Staff joined the Association of Certified Public Accountants in Public Practice (ACPAPP) General Membership Meeting (GMM). The GMM was held at the Washington SyCip Development Center (WSDC) in Makati.   FSO Partners Veronica Mae Arce Balisi (left) and Roderick M. Vega (right) during their respective presentations The GMM included technical training on Anti-Money Laundering (AML) and Counter Terrorist and Proliferation Financing (CTPF). SGV Financial Services Organization (FSO) Partners Veronica Mae “Nica” Arce Balisi and Roderick “Erick” M. Vega, together with Anti-Money Laundering Council (AMLC) Deputy Director Atty. Arnold T. Kabanlit, were the resource speakers on the topic of “AMLA and the Role of Accountants/Auditors.” Resource speakers and roundtable panelists and moderator with their certificates of appreciation Nica gave an overview of the registration statistics of accountants and accounting firms with the AMLC and discussed how their services could be misused to provide a gateway to criminals. Nica then encouraged the participants to register and recognize the importance of AMLA. Nica also gave an overview of Money Laundering, and Terrorist and Proliferation Financing (ML/TPF) and discussed updates on the local AML/CTPF regulatory landscape and preventive measures. Erick talked about various techniques used by criminals to launder money using accountants and accounting firms. SGV FSO Leader Christian G. Lauron moderated the roundtable discussion, which was an interactive information sharing on AML/CTPF areas. The roundtable featured as panelists P&A Grant Thornton Advisory Services Partner Chris Ferareza; Morfe, Ceneta & Co., CPAs Founder and Managing Partner Grace Morfe; and AMLC Deputy Director Atty. Arnold Kabanlit. SGV Vice Chair and Deputy Managing Partner Vivian C. Ruiz, who also serves as ACPAPP VP & Liaison Director for Professional Development, and ACPAPP Professional Development Committee Chair Dhonabee B. Señeres, facilitated the event with the assistance of SGV Financial Crime Associate Coleen Mae D. Panuela. 

SGV Financial Services Organization (FSO) Senior Manager Alister Benedict Rodriguez passed the Fundamentals of Actuarial Mathematics (FAM) and Statistics for Risk Modeling (SRM) examinations administered by the Society of Actuaries (SOA). FAM and SRM exams passer FSO Senior Manager Alister Benedict Rodriguez Alister passed both the FAM and SRM exams within five months, showcasing his knowledge of actuarial modeling and data analysis and positioning himself as a valuable asset in the field of actuarial sciences and risk management. The FAM exam assesses candidates' understanding of actuarial methods in modeling both short-term and long-term liabilities, while the SRM exam assesses candidates' understanding of statistical methods and models to analyze data. These exams are crucial for actuaries as they demonstrate their proficiency in applying mathematical and statistical techniques to assess and manage risk.   The SOA is a global professional organization for actuaries that offers a variety of certificate programs that prepare candidates for a future in the actuarial industry. These programs also provide candidates with a strong foundation in actuarial science and equip them with the necessary skills to excel in their careers. With its extensive network and resources, the SOA continues to support and advance the actuarial profession worldwide. The SGV FSO team will be holding FSO briefings on actuarial sciences and risk management for SGVeans and students.  Congratulations, Alister!

SGV Tax Partner Atty. Auresana “Rhena” B. Ines conducted a tax webinar for the Philippine Institute of Certified Public Accountants (PICPA) Southern Metro Manila Chapter (SMMC) on “How to Effectively Handle a BIR Tax Audit” held via Zoom on 25 August 2023. Event poster Atty. Rhena (lower right) with the SGV Tax Team Atty. Rhena discussed the BIR tax audit procedure and provided tips and leading practices in handling BIR tax audits. She highlighted the importance of understanding the BIR tax audit procedure to ensure compliance with tax regulations. She also emphasized the need for businesses to be well-prepared and knowledgeable about the process to effectively address any potential issues that may arise. Atty. Rhena also talked about the significance of maintaining accurate and organized financial records, as this plays a crucial role in successfully navigating BIR tax audits. 

SGV Business Consulting Leader Ryan Gilbert K. Chua was a resource speaker at the 4th Pocket Session organized by the Membership Committee (MemCom) of the IT & Business Process Association of the Philippines (IBPAP) on “Scaling a BPO/Shared Services Business.” About 30 Executives from various IT and Business Process Management (IT-BPM) companies attended the event held at the Asia Select Office in Makati City on 25 August 2023. Event poster During the session, Ryan emphasized that while it may be relatively easy to start scaling, sustaining the process is a different matter. Ryan highlighted the importance of proper planning and execution, relationship/presence, methodology, and capability among others to scale sustainably. Ryan also touched on the relevance of mergers and acquisitions (M&As) in scaling up and highlighted why choosing the right strategy is key. Ryan (center) talks about how to scale BPOs/Shared Services Businesses sustainably Consulting Partner Jan Ray G. Manlapaz also attended the session. He raised relevant questions on the topics discussed during the panel discussion. Tax/Customs Partner/Principal Atty. Alden C. Labaguis coordinated the event with IBPAP. He was assisted by Indirect Tax (IDT) Associate Director Atty. Lauren Antonette M. Mendoza, and IDT Senior Associates Attys. Kierk Robin M. Ret and Natividad G. Busa, who formed part of the coordinating team. IBPAP is the primary trade body and advocacy group of the country’s IT-BPM sector and is composed of close to 400 companies and six partner associations.

SGV held its Withholding Tax series as part of the Tax Basics Seminar (TaxBaSe) series, which cover basic and updated tax rules and regulations along with illustrations and practical applications. Participants during the Q&A sessions in SGV Makati (left) and Clark (right) SGV Global Compliance and Reporting (GCR) Partners Josenilo “Nilo” G. Mendoza and Lee Celso R. Vivas were resource speakers in the seminar series held at the SGV Makati and Clark offices, respectively. There were 92 participants in Makati and 36 in Clark. (From left to right) Nilo, Lee, Leo and MeynardSGV GCR Partner Hentje Leo L. Leaño opened the sessions in both the Makati and Clark offices. SGV GCR Partner Francis “Kiko” J. Ricamora was also present during the Clark leg and joined the Q&A session. GCR Senior Director Meynard L. Sardalla and GCR Associate Director David Jonathan F. Manalili hosted the sessions in SGV Makati and Clark, respectively. (From left to right) David, Nilo, Lee, Kiko, and LeoThe Withholding Tax Series is a three-part series that includes General Concepts on Withholding, Expanded Withholding Tax (EWT), and Withholding Tax on Wages (WTW) and Fringe Benefits Tax (FBT). It aims to provide the participants with an updated and in-depth understanding of the general concepts of withholding taxes, and guidance on the computation, filing, payment, and other requirements relating to Final Withholding Tax (FWT) and Withholding Value-Added Tax (WVAT). 

Members of the SGV Clark team paid a courtesy call on newly appointed Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Jonathan D. Tan on 30 August 2023 at the SBMA office.  (From left to right) Senior Director Niño Canlas, Associate Director Elgina Rito, Tax Partner Hentje Leo L. Leaño, SBMA Chair and Administrator Jonathan Tan, SGV Clark Partner In-Charge and Head Atty. Margaux A. Advincula, Senior Associate Atty. Fatima Garo, and SBMA Chief of Staff Martin Roman at the SBMA office SGV Clark Partner In-Charge and Head Atty. Margaux A. Advincula, Tax Partner Hentje Leo L. Leaño, Assurance Senior Director Leo Niño Canlas, Global Tax Compliance Associate Director Elgina Rito, and Tax Senior Associate Atty. Fatima Kate Garo congratulated Mr. Tan on his appointment as the new SBMA Chairman and Administrator. They also discussed new collaboration on several tax and investment initiatives to promote the ease of doing business for SBMA locators, including updates on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. They were accompanied by SBMA Chief of Staff and Deputy Administrator for Port Operations Atty. Martin Kristoffer F. Roman.

SGV held its first-ever weeklong Sustainability Summit from 7 to 11 August 2023. SGV’s Sustainable Actions for Value-Creation and Enablement (SAVE) Council and its four pillars spearheaded the event, with the theme, “Build Today, Save Tomorrow: Invest in long-term value creation towards sustainable growth,” which reflects the Firm’s commitment to building a better and more sustainable working world. The Summit showcased the Firm’s sustainability efforts with the goal to inspire SGVeans to adopt a more sustainable lifestyle. SGV Sustainability Summit organizers, speakers, and on-site participants Various talks, simulation activities, demos, and exercises were conducted during the event. It also featured several distinguished external resource speakers, who provided in-depth insights into their sustainability journeys, both professional and personal. Participants check the display of sustainable products One of the highlights of the weeklong event was an auction held for the benefit of the Mindanao fisherfolk. Over 100 registered online and onsite bidders participated in the Treasure Trove auction, raising a total of PhP95,000.00. Chief Sustainability Officer and SAVE Council Chair Clairma T. Mangangey spoke on the state of sustainability efforts and the Firm’s progress toward achieving its sustainability targets. SGV Partners and Principals also shared their sustainability journeys. SGV SAVE Council group photo The Summit was capped off with messages from Chairman and Managing Partner Wilson P. Tan, EY Global Vice Chair for Sustainability Amy Brachio, CCaSS Partner Benjamin N. Villacorte, and Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz.

SGV Financial Services Organization (FSO) Senior Manager Dominique Raissa Torralba and International Tax and Transactions Services (ITTS) Manager James Edward Agbayani were resource speakers in the 2023 JP Morgan Payments Forum held at the Grand Hyatt Manila. Participants from different business organizations attended the event. (From left to right) James, JP Morgan Philippines Executive Director and Payments Head Sari Mortel, Dominique, and JP Morgan Philippines Vice President and Philippines Client Service and Implementation Head Reginald Cruz Dominique and James discussed payments and e-invoicing, including insights on the latest trends and developments in the payments industry, and how the reliable and secure implementation of e-invoicing would spur greater digital payments adoption, and vice versa. FSO Senior Manager Dominique at the JP Morgan Payments Forum FSO Manager James during his presentation Dominique shared insights on the country’s attainment of the targets set by the Bangko Sentral ng Pilipinas, based on the digital payment adoption trend of different segments of users. Dominique also discussed the state of digital payments adoption in other jurisdictions, and how policies and processes put in place led to gains in the payments industry and were mutually beneficial for e-invoicing and taxation initiatives.  James, on the other hand, shared updates regarding the government’s goal towards digitalization through the implementation of the e-Invoicing system (EIS). He discussed the timeline of EIS implementation, as well as the aspects which companies need to adhere to and prepare for.  James and Dominique closed the discussion with an overview of what companies could expect in terms of the flow of their billing and payment processes considering the linkage of digital payments and e-invoicing. Other speakers were JP Morgan Philippines Equities Research Head Jeanette Yutan and JP Morgan Cybersecurity Operations Lead and Cybersecurity & Technology Controls, Asia Pacific Intelligence Group Head Adonis Polychronopoulos. The speakers provided valuable insights on several topics, such as the “Philippines Macroeconomic Outlook and Cybersecurity Essentials: Staying Ahead.” An open forum was also conducted after each speaker’s presentation. Dominique and James during the Q&A session EXL Health and Philippines Business Finance and Pricing Head Dipto Sen and JP Morgan Asia Pacific Digital Channel Product Solution Sales Lead Steffanus Widjaja also participated as panelists during the panel discussion on “Leveraging Technology for The Future of Treasury and Payments,” which was moderated by JP Morgan Singapore and ASEAN Treasury Services Product Head Gundeep Singh. JP Morgan Payments Forum participants JP Morgan Philippines Senior Country Officer and Banking Head Carlos Mendoza gave the welcome remarks, while JP Morgan Philippines Global Corporate Bank Head Richard Lee concluded the session by delivering the closing remarks and thanking the participants.

SGV, represented by Chairman and Country Managing Partner Wilson P. Tan and Consulting Partner and iTeach Program Director Allan W. Ocho, and PHINMA Education Holdings, Inc., represented by Country Head Christopher Tan, signed a Memorandum of Understanding (MOU) on 8 August 2023 for PHINMA schools to participate in the SGV iTeach Program. Signing the MOU are (from left to right) SGV Vice Chair and Deputy Managing Partner Vivian C. Ruiz, Consulting Partner and iTeach Program Director Allan W. Ocho, SGV Chairman and Country Managing Partner Wilson P. Tan, PHINMA Education Country Head Christopher Tan, and PHINMA Araullo University College of Management and Accountancy Dean Emerita Modesto. The SGV iTeach Program aligns with the Firm's commitment to continue its late founder Mr. Washington SyCip's advocacy for lifelong learning. The advocacy program aims to enable educators by updating them on the latest accountancy and technology trends and helping them bridge the gap between theoretical principles and actual practice. This includes collaborations with schools and professional organizations to facilitate training and workshops, provide inputs to the schools' programs, curricula and syllabi, develop case studies, and provide guest lecturers. Present in the photo are (from left to right) SGV Senior Director Elvin Mercader, SGV Assurance Leader Martin C. Guantes, Consulting Partner and iTeach Program Director Allan W. Ocho, SGV Vice Chair and Deputy Managing Partner Vivian C. Ruiz, SGV Chairman and Country Managing Partner Wilson P. Tan (WPT), PHINMA Education Country Head Christopher Tan, PHINMA Araullo University College of Management and Accountancy Dean Emerita Modesto, PHINMA Education Country Chief Learning Officer Glenn Laigo, PHINMA Araullo University Dean Marvin Salviejo, SGV Assurance Partner Belinda T. Beng Hui, and SGV Business Consulting Senior Jervie Sta. Ana. In addition to providing training and workshops, SGV also explores the possibility of an online community where educators can come together to share best practices. To date, the SGV iTeach Program has been able to reach out to and build awareness with around 7,000 teachers, students, and other professionals across the country.  The MOU signing took place at the SGV Museum at Shang Grand Tower, Makati City. Dean Emerita Modesto of the College of Management and Accountancy of PHINMA Araullo University and SGV Vice Chair and Deputy Managing Partner Vivian Ruiz acted as witnesses. Also in attendance were SGV Assurance Leader Martin Guantes, SGV Assurance Partner Belinda T. Beng Hui, SGV Senior Director Elvin Mercader, SGV Business Consulting Senior Jervie Sta. Ana, PHINMA Education Country Chief Learning Officer Glenn Laigo, and Dean Marvin Salviejo of PHINMA Araullo University.