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The SGV global bank team led by SGV Assurance Partner Janeth T. Nuñez-Javier and Business Consulting – Risk Partner Conrad Allan M. Alviz conducted a tree planting activity at the Laguna-Quezon Land Grant in Siniloan, Laguna. The Laguna-Quezon Land Grant is part of the Sierra Madre reforestation and rehabilitation efforts. SGV global bank teammembers The SGV global bank team (Assurance, Consulting-FAIT) planted 150 bani native trees as part of the EY global bank team’s corporate social responsibility (CSR) activities. The SGV team’s tree-planting activity, which coincided with Philippine Arbor Day, was in line with the SGV global bank team’s goal to contribute to the preservation of Philippine biodiversity and promote sustainable practices in the community. Janeth plants bani native tree SGV global bank teammembers during the tree planting activity 

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.

SGV held a Legacy Night event to honor its alumni Partners and the 45 SGV CPAs who were among the Top 100 CPAs named and presented with the Centenary Award of Excellence by the Professional Regulation Commission’s Board of Accountancy (PRC BOA). The event, held at the Conrad Manila on 30 June 2023, highlighted the Firm and its people’s rich legacy of excellence, integrity, and stewardship. More than 100 current and alumni SGV Partners attended the event. Current and Alumni SGV Partners Chairman and Country Managing Partner Wilson P. Tan (WPT) welcomed the attendees and talked about the current state of the Firm. He also congratulated and welcomed the new Partners and Principals. Additionally, he talked about the Firm’s recent achievements with a message centered on the theme, "Stewardship. Grit. Vibrance.” SGV Chairman and Country Managing Partner Wilson P. Tan delivers his welcome remarks Former SGV Chairman and Managing Partner (1999-2004) Cesar V. Purisima (CVP) Former SGV Chairman and Managing Partner (2010-2017) Cirilo “Vic” P. Noel (CPN) Former SGV Chairman and Managing Partner (2017-2020) J. Carlitos “Itos” G. Cruz (JGC)  Former SGV Chairmen and Managing Partners and recipients of the Centenary Award of Excellence Cesar V. Purisima (CVP), Cirilo “Vic” P. Noel (CPN) and J. Carlitos “Itos” G. Cruz (JGC) shared words of wisdom and how they felt about being part of SGV’s living legacy. SGV Alumni during Legacy Night The SGV Dance Club and SGV Glee also performed at the event. SGV Assurance Leader Martin C. Guantes (MCG) concluded the program with his closing remarks and thanked all the SGV alumni Partners for attending the event.

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.

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 Bureau of Customs (BOC) Collection District XII – Port of Davao, spearheaded by District Collector Atty. Erastus Sandino B. Austria, in cooperation with SGV, organized the first-ever Mindanao Customs Summit held in Davao City. About 200 participants from various economic sectors attended the summit with the theme “Empowering MSMEs through Seamless Automated BOC Services.”  SGV delegates with District Collector Atty. Erastus Sandino Austria. (From left to right: Atty. James Gregorio, Atty. Jennyllette Dignadice, Atty. Erika Joy Ruiz, Ms. Frenzie Berenguel, Atty. Alden Patrick Labaguis, District Collector Erastus Sandino Austria, Atty, Stephanie Nava, Atty. Auresana B. Ines, Atty. Victor C. de Dios, Atty. Gracia Mae Beronilla, Atty. Charlene Joy Millares)  SGV Tax Principals Atty. Stephanie “Steph” V. Nava (SVN), Atty. Victor C. de Dios (VCD), and Atty. Alden Patrick C. Labaguis (ACL), and Partner Atty. Auresana “Rhena” B. Ines (ABI) discussed best practices of successful business enterprises, which include proactive compliance with government rules and regulations.  Rhena discussed the impact of transfer pricing considerations in customs-related issues, especially the importance of transfer pricing documentation in cases of import transactions between related parties and the implications of upward or downward adjustments on customs valuation. Steph, Victor and Alden emphasized that the BOC has the power to conduct compliance audits in two levels of assessments, namely: (1) the post-entry modification of duties and taxes and (2) the post-clearance audit of duties and taxes. They added that to do well on both audits, preventive rather than curative measures should be employed.  SGV delegates with Hon. Bienvenido Rubio, Commissioner of Customs, District Collector Erastus Sandino B. Austria, and other customs officials The summit also featured representatives from the Department of Trade and Industry (DTI), the Board of Investments (BOI), and the Authorized Economic Operator (AEO) Program Office, who encouraged importers and exporters, particularly micro, small, and medium enterprises (MSMEs), to avail themselves of the perks and benefits of the government accreditation programs (i.e., BOI accreditation, AEO accreditation, etc.) to enhance their business pursuits. A walkthrough of import and export procedures was also covered during the summit to guide importers and exporters in managing their transactions with the BOC following the recent automation of most BOC processes.  The event was made possible through the efforts of the BOC organizing team led by Administrative Division Chief Nica Chynna Tan-Concepcion, and in close coordination with SGV Associate Director Atty. Gracia Mae A. Beronilla and Senior Associates, Atty. Charlene Joy W. Millares, and Atty. James E. Gregorio.  This collaboration between the BOC and SGV is a manifestation that the dynamics between the BOC and its stakeholders in the private sector – including but not limited to importers and exporters, as well as SGV as a tax advisor – involves collaborations ultimately geared toward attaining business sustainability and economic growth through continuous compliance with laws, rules, regulations, and procedures. 

SGV honored 17 outstanding individuals in the Firm’s 2023 Learning & Development (L&D) Excellence Awards held on 2 June 2023. Winners were recognized in three award categories, namely Facilitator Impact, Rising Star, and Thought Leadership. The individual and team awardees were recognized for their dedication, expertise, and creativity as outstanding facilitators. The program also highlighted their invaluable contribution to SGV's learning culture and L&D initiatives.  SGV L&D Excellence Award Grand Winner James Geile C. Barreras (center) with (from left to right) Consulting Partner Allan W. Ocho (AWO), Consulting Markets Co-Leader Maria Kathrina S. Macaisa-Peña (KSM), Vice Chair and Deputy Managing Partner Vivian C. Ruiz (VCR), and Consulting Partner Conrad Allan M. Alviz (CMA) Technology Consulting Associate James Geile C. Barreras is this year’s grand winner and recipient of both the SGV L&D Excellence Award and the Thought Leadership Award. He organized training sessions for team members to become knowledgeable and certified in the Microsoft Dynamics 365 Platform. He helped equip them with the skills and knowledge needed to deliver successful projects in these areas. Facilitator Impact Awardees Assurance Senior Manager Christian T. Mahusay, Global Compliance and Reporting (GCR) Senior Manager Meynard L. Sardalla, Consulting Manager James Robert D. Aguila, and Business Enablement Services (BES) Associate Director Diorella M. Ontimare-Dela Cruz received the Facilitator Impact Award. This award is given to experienced facilitators who have demonstrated exceptional expertise and commitment in the field of facilitation and have dedicated a significant number of hours to facilitating L&D sessions. Rising Star Awardees Assurance Manager Romeo C. Barrogo, Tax Manager Marian Kris B. Santos, Consulting Senior Associate Noreen B. Canatoy, Strategy and Transactions (SaT) Senior Director Lester Jeff D. Pawid and BES Senior Associate Justine Jose Marie P. Pabalan received the Rising Star Award. This award acknowledges the exceptional potential and talent of up-and-coming facilitators. These individuals demonstrated a strong passion for continuous improvement and were recognized as future leaders in the field of L&D.  Financial Services Organization (FSO) Senior Manager Cathy Biliran receives the Thought Leadership Award on behalf of the FSO team Thought Leadership Awardees The FSO webinar team composed of FSO Senior Director Mary Catherine M. Biliran, FSO Consulting Senior Director Russel N. Ailes, FSO Senior Director Leomar G. Velez, FSO Consulting Director Christopher Gerard G. Yu, Tax Senior Director Mira F. Ramirez-Uy, SaT Senior Director Lester Jeff D. Pawid and FSO Tax Senior Associate Krizia Mae P. Reamico received the Thought Leadership Award. GCR Senior Manager Maria Michaela E. Ledesma also received the award. This award honors experienced facilitators or teams for contributing innovative ideas and insights to the L&D community, pushing the boundaries of traditional training methods, and making remarkable contributions as subject matter resource speakers.  L&D team members pose for a group photo The winners received plaques and cash prizes. They were selected through an extensive evaluation process. SaT Partner Smith C. Lim (SCL), Assurance Partner Benigno F. Leongson (BFL), Consulting Partner Conrad Allan M. Alviz (CMA), GCR Partner Saha A. Bulagsak (SAB), Assurance Partner Kristopher S. Catalan (KSC), Tax Principal Alden Patrick C. Labaguis (ACL), and BES Senior Director Rowena O. Julian-Bautista comprised the panel of judges. Congratulations to the winners!