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SGV Financial Services Organization (FSO) Partner Veronica Mae Arce Balisi (VAB) was a resource speaker at the Financial Executives Institute of the Philippines (FINEX) Anti Money Laundering (AML) webinar held on 2 December 2022 via Zoom. SGV sponsored the webinar. Event poster Veronica was joined by FINEX Professional Development Committee Chairman Editha V. Estacio (EVE), who delivered the welcome remarks and was part of the organizing team. Anti-Money Laundering Council Executive Director Atty. Matthew M. David was the keynote speaker. Veronica talked about AML and how the Philippines can get out of the grey list. She said that building a strong AML culture would enhance compliance, reduce regulatory risks, and improve AML efficiency. She added that it is also important to hold people accountable for the compliance framework.   Veronica talks about fighting money laundering Veronica shared five key takeaways during the session: 1. Covered institutions should be more involved in conducting institutional risk assessments (IRAs) to determine appropriate mitigating controls and identify heightened or emerging risks; 2. Know-your-client (KYC) and customer due diligence (CDD) should be linked with the transaction monitoring exercise; 3. AML/CTPF programs should not be seen as merely a compliance matter; instead, covered institutions should harness their benefits to have a better understanding of their customers and recognize that a good AML/CTPF risk management framework creates a good brand and reputation for the company; 4. Financial institutions and law enforcement agencies alike don’t just need new technology — they need to adopt a new way of working; and 5. Building a strong AML culture will enhance compliance, reduce regulatory risk, and improve efficiency in AML/CTPF.  She concluded her talk by encouraging the attendees to fight money laundering, which may also be related to online sexual exploitation of children (OSEC), prostitution, human trafficking, and drug dealing. She said that one should not compromise one’s profession, firm, or company by accepting clients that may be involved in money laundering. Association of Certified Anti-Money Laundering Specialists (ACAMS) Philippine Chapter Co-Chairman Atty. Karla Denise Frias led the panel discussion and the webinar concluded with a message from FINEX Professional Development Committee (PDC) Co-Chair Paul San Pedro. PDC Liaison Director Ronald Luis Goseco served as the Master of Ceremonies.

SGV Partners Jose Pepito “Pepz” E. Zabat (JEZ), Hentje Leo L. Leaño (LLL), Eleanore A. Layug (EAL), and Alexis C. Zaragoza (ACZ), SGV Senior Policy Adviser Ambassador and DIWATA Chairman Delia Domingo Albert (DDA), and Market Group (MG) 7 Senior Managers Marc Bonnie Wong, Marco Rene Barredo, Leo Niño Canlas, and Juan Gabriel Ma. Cagampan participated in the 68th Annual National Mine Safety and Environment Conference (ANMSEC) held from 15 to 18 November 2022 at the CAP–John Hay Trade and Cultural Center.  Leo, Aris, Delia, Eleanore, and Pepz with former SGV Partner Jaime F. del Rosario, DIWATA Founding President Atty. Patricia A. O. Bunye, Philippine Mine Safety and Environment Association (PMSEA) President Luis R. Sarmiento, ASEAN Eng., and other ANMSEC participants The conference featured mine safety field demonstrations and competitions and mining, metallurgical, geological, and environmental symposia. The safest mines and the best mining personalities/professionals were also recognized during the event.  Eleanore, Pepz, and Delia with former SGV Partner Jaime F. del Rosario and other DIWATA members In one symposium during the conference, DIWATA Chairman DDA and DIWATA President EAL led the launch of the DIWATA Awards. The Awards will recognize outstanding social development and management programs of companies belonging to the Philippine minerals industry. DIWATA – Women in Resource Development Inc. is an NGO advocating for the responsible development of the Philippines’ wealth of resources in the fields of mining, oil and gas, quarrying, and other mineral resources. Pepz, Eleanore, Delia, and Aris with former SGV Partner Jaime F. del Rosario and other ANMSEC attendees Representatives from mining companies, the Department of Environment and Natural Resources (DENR) and its attached bureaus and agencies, and other Philippine mining industry stakeholders (students, teachers, professional organizations, etc.) attended the event.

The SGV Talent Team celebrated Christmas with the theme “The 2000s with a sustainable twist.” Members of the Talent team participated in various activities anchored on sustainability principles during their Christmas party on 16 December 2022. Talent team group photo Alvin and Julie with some of the Talent team members during the Christmas Decor judging Members of the Talent Function teams cleaned the Talent floor areas for their spring-cleaning activity. They also participated in a Christmas decorating activity where recyclable and reusable items from the office and their homes were used as Christmas decorations, an exchange gift activity where members exchanged pre-loved personal items that they think will be useful to their intended recipients, and the Best Costume Awards for members who came in their best 2000s outfit without buying new clothes. There were games and raffles during the party as well. Julie, Clairma, and Martin Julie, Clairma, and Alvin Talent Leader Julie O. Mateo (JOM) and Business Services Group Leader Alvin M. Pinpin (AMP) were judges for the Christmas decorating activity. They also gave their respective messages along with Learning and Development Leader Clairma T. Mangangey (CTM) and Assurance Leader Martin C. Guantes (MCG).

The Climate Change and Sustainability Services (CCaSS) team hosted the second episode of the SGV SAVE Council's WebCCaSS for FY23 on 25 November 2022. The session, titled "Beyond Consumerism: Building a Circular Economy through Stewardship," aimed to educate SGVeans on what a circular economy is and how it can change the current linear economic model. The presenters also gave a brief overview of the Extended Producer Responsibility (EPR) Act of 2022 and discussed how it can address and help solve the country’s plastic pollution problem. 640 participants attended the session. The CCaSS team talks about a circular economy Business Consulting and CCaSS Partner Conrad Allan M. Alviz (CMA) kicked off the session with his opening remarks. CCaSS Associates Michelle Joan C. Ferrer and Dawn Louise G. Lim and CCaSS Manager Carla J. Capistrano discussed the current plastic problem, circular economy principles, the EPR Act of 2022, and local and global circular economy practices. SGVeans answer how they could help contribute to a circular economy To keep the participants engaged in the discussions, CCaSS Senior Associate Keith S. Celebre handled a series of interactive activities, asking the audience which circular practices they should choose in their daily-life scenarios and how they can establish a new habit in their daily lives to contribute to achieving a circular economy. The session concluded with a Declaration for Call-to-Action called “A Plan Towards A Responsible Action” that aims to lead individuals to take a step towards responsible waste management. 117 SGVeans expressed their commitment to this endeavor. Carla also thanked the organizers and participants and encouraged them to practice circular economy habits.  The SAVE Council’s WebCCaSS initiative is a quarterly one-hour webcast that covers concepts, trends, regulations, and industry practices around sustainability and climate change.

SGV Global Compliance and Reporting (GCR) Senior Manager Meynard L. Sardalla received the EY Asia-Pacific Tax Award under the Exceptional Talent category during the EY Asia-Pacific Executive Tax Update held on 1 and 2 December 2022.  Exceptional Talent awardee Meynard L. Sardalla The Exceptional Talent Award is given to exceptional individuals who demonstrate inclusive leadership and embody the EY Purpose and values. The selection process for the awards began with nominations which were assessed by an Asia-Pacific Tax jury. The winners were announced as part of the opening plenary of the Asia-Pacific Executive Tax Update on 1 December. Meynard has spearheaded various initiatives to foster diversity and inclusivity in the workplace, promote work-life integration and professional development, and empower and inspire others. The APAC Tax Awards - Celebrating You, Inspiring Others is the APAC Tax campaign to celebrate behaviors and contributions of individuals and teams that have made a substantial difference in various aspects. The event was attended by Tax Executives from EY member firms in the Asia-Pacific Region. Congratulations, Meynard!

SGV International Tax and Transaction Services (ITTS) Partner Atty. Auresana “Rhena” B. Ines (ABI) and Indirect Tax (IDT) Senior Director Atty. Alden Patrick C. Labaguis participated in the 3rd IT & Business Process Association of the Philippines (IBPAP) CEO Forum with the theme “Harnessing Multi-Sectoral Synergy for Talent Development in PH IT-BPM” on 28 November 2022 at the Manila House, Bonifacio Global City, Taguig. The event was attended by IBPAP Platinum Club members and Ernst & Young Global Delivery Services (EY GDS) representatives. Atty. Rhena (left) and Atty. Alden (right) with IBPAP President and CEO Jack Madrid (center) Guest speakers covered the Philippine Skills Framework which focuses on creating a common skills language, building deep skills for a lean workforce, enhancing business competitiveness, and supporting employment and employability. EY GDS Philippines Consulting Leader Raymond Garret Go was part of the panel discussion. They talked about IT-BPM’s roadmap to 2028, the need to acquire and develop young and innovative talent, the DTI’s role in helping the industry, the execution of set rules, and the role of the academe in upgrading and rescaling courses. The forum concluded with a call to action for the government, academe, and private sector to respond quickly and create other modes of learning such as certification programs. 

Global Compliance Reporting (GCR) Partners Hentje Leo L. Leaño (LLL) and Maricris U. See (MUS) were recognized as Outstanding Philippine Institute of Certified Public Accounts (PICPA) Members from the Metro Manila Region (MMR) during the 77th PICPA Annual National Convention (ANC) held from 23 to 26 November in Cebu City. Outstanding PICPA Members Maricris U. See and Hentje Leo L. Leaño Leo and Maricris were recognized for their outstanding performance as presidents of the PICPA Eastern Metro Manila Chapter (EMMC) for Fiscal Year (FY) 2016-2017 and Southern Metro Manila Chapter (SMMC) for FY 2020-2021, respectively. Their citations noted their active participation as chairs or members of various MMR and PICPA national committees which contributed to the attainment of PICPA’s goals and aspirations. Also recognized during the 77th PICPA ANC were former Business Consulting Partner and Chief Risk Officer Leonardo J. Matignas Jr. (LJM) and former Country Tax Leader Luis P. Ferrer (LPF) as Honorary Life Members. Congratulations, Leo and Maricris!

Global Compliance Reporting (GCR) Partner Hentje Leo L. Leaño (LLL) served as one of the Overall Co-Chairs of the 77th Philippine Institute of Certified Public Accountants (PICPA) Annual National Convention (ANC) held from 23 to 26 November 2022 in Cebu City. GCR Senior Director Meynard L. Sardalla also served as a member of the ANC Overall Committee.  77th PICPA ANC Technical Sessions Committee members Leo concurrently served as the Technical Sessions Committee Chair in charge of the selection of topics, speakers and moderators for the technical sessions held during the ANC. GCR Associate Directors David Jonathan F. Manalili and Mica Alyana C. Rivera, GCR Senior Associate Jan Marion V. Dela Cruz and Administrative Intermediate Anna Eliza S. Hernandez were also part of the ANC’s Technical Sessions Committee. The topics in the technical sessions revolved around the theme of the 77th PICPA ANC, “Play It Forward: Securing a Sustainable Future.” 

SGV International Tax and Transaction Services (ITTS) Partner Atty. Auresana “Rhena” B. Ines (ABI) hosted a webinar on “Recent Developments on Transfer Pricing in the Philippines” organized by the Philippine Institute of Certified Public Accountants (PICPA) Western Metro Manila Chapter (WMMC) on 28 November 2022. Around 70 PICPA members and officers attended the event. Event poster During the session, Atty. Rhena helped participants clarify the items to be disclosed in their respective Information Return on Related Party Transactions (BIR Form 1709), the types of taxpayers required to prepare Transfer Pricing documentation, and the items that they should consider or look into while preparing their audited financial statements for Transfer Pricing audit.

SGV Partners Marie Stephanie C. Tan-Hamed (MTH), Christian G. Lauron (CGL), and Clairma T. Mangangey (CTM) served as speakers in the 77th Philippine Institute of Certified Public Accountants (PICPA) Annual National Convention (ANC) technical sessions held from 23 to 26 November 2022 in Cebu City. Stephanie provides economic updates Clairma talks about E&S issuesChristian during his technical sessionStephanie kicked off the technical sessions with an economic update focusing on the Philippine developmental objectives and strategy of the new administration in the context of the global economic environment and conditions. Christian, representing the Public Practice Sector, led the discussion on “CPAs as Industry Leaders in a Highly Disrupted Period” while Clairma discussed “Governance of Environmental and Social (E&S) Issues.” Consulting Markets Co-Leader and EY Asean Fields of Play Leader Maria Kathrina Macaisa-Peña (KSM) moderated the panel discussion on CGL’s technical session, while Business Tax Services (BTS) Partner and Asean Tax Transformation Leader Cheryl Edeline C. Ong (CCO) moderated the panel discussion on “Digital and Agile Leadership: Going beyond Paper to PDF.” Nearly 6,000 participants attended the 77th PICPA ANC with more than 4,600 attending physically at the IEC Convention Center and 1,300 virtually via Zoom.