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SGV Financial Services Organization (FSO) Leader Vicky Lee-Salas (VLS), Partner Christian G. Lauron (CGL), and Senior Directors Leslie Huang and Bryan Baes attended the London Bullion Market Association (LBMA) Virtual Auditor Training Course. The two-day training course aimed to enhance auditors’ subject matter expertise on precious metals supply chain risks and issues. The sessions featured case studies and interactive exercises. The facilitators discussed the ISAE 3000 standard, the concepts of risk-based assurance audits and the application of subject matter expertise when conducting due diligence audits in the context of precious metals supply chains. They also trained participants on how to check whether traceability and due diligence systems are in place, are operational and compliant with LBMA requirements and if exceptions are being effectively identified, assessed, managed and reported. The LBMA is the international trade association that represents the market for gold and silver bullion. It is centered in London but has a global client base, including the majority of the central banks that hold gold, private sector investors, and mining companies, among others. It publishes the LBMA Good Delivery List, a widely recognized standard for the quality of gold and silver market bars, which includes the world’s pre-eminent refiners of gold and silver located in 31 countries. It promotes Due Diligence for Responsible Supply Chains by actively drafting the Gold Supplement section of the Organisation for Economic Co-operation and Development (OECD) guidance for supply chain due diligence. It has also set up a Responsible Gold Guidance for good delivery refiners to comply with high standards of anti-money laundering and combating terrorist financing and measures to curb human rights violations.

SGV Partners and staff participated in the Philippine Institute of Certified Public Accountants Southern Metro Manila Chapter (PICPA SMMC) Adopt-A-Chapter webinar series last 13 and 20 December. On the first day of the webinar series, Tax Partner and PICPA SMMC President Maricris U. See (MUS) delivered the opening remarks and emphasized the value of continuous learning and professional growth amidst the challenges brought by the COVID-19 pandemic. Tax Senior Associate and PICPA SMMC Co-Chair for Social Involvement Edsel Francis Lima led the participants during the Oath of CPAs as a reminder of the profession’s principles of integrity, objectivity, due care, and confidentiality. Tax Partner Aaron C. Escartin (ACE) led the session on 20 December. He discussed the differences between tax rules and accounting rules as applicable to small- to medium-sized entities. Other topics discussed at the webinar series included “Developing ethical leaders for the accounting profession” and “PFRS for small entities.” Over 120 participants from the PICPA Aklan, Capiz, and Antique Chapters attended the event. The webinar is an annual project of the PICPA SMMC and aims to equip participants with relevant competencies to prepare them for the audit busy season.

Tax Partner Cheryl Edeline C. Ong (CCO) led a virtual session on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill for members of the Nordic Chamber of Commerce of the Philippines (NordCham) last 18 December. NordCham Membership and Events Manager Maan Yu welcomed 27 executives and representatives from companies engaged in various industries such as financial services, retail, pharmaceuticals, and real estate. CCO discussed the bill’s salient features, developments and incentives in corporate income tax. She also provided insights on how companies can prepare for the proposed tax reforms. The webinar concluded with a question-and-answer portion where CCO addressed participant questions. The webinar was organized by Tax Senior Director Gecel Ong in coordination with NordCham.

Consulting Principal Philip B. Casanova (PBC) was one of the speakers at the DECODE Conference hosted by Trend Micro Inc. last November. With the theme, Elevate! Transform Rapidly, Seamlessly, Securely, the conference featured sessions on the cyber threat landscape, industry trends, and new technologies aimed to help participants and their organizations address the issues caused by the latest disruptions. Over 4,500 information technology and cybersecurity professionals attended the event. PBC led a session titled Principles to Live by for Cybersecurity Leaders where he shared the principles he learned in his over 20-year career in cybersecurity. Emphasizing the value of preparedness, he encouraged participants to equip themselves with the necessary knowledge and skills to enhance their personal and professional development.

Consulting Principal Philip B. Casanova (PBC) was a panelist at the BusinessWorld Insights webinar last December. With the theme, Safe Banking: Data Security on Online Payment Services, the webinar discussed addressing security issues in digital finance and consumer tips for safe online transactions. Other panelists included representatives from financial services and cybersecurity companies. The panelists spoke on how the pandemic caused a surge in digital transactions and the rise in cybersecurity attacks and breaches. PBC explained that financial institutions must maintain consumer trust while providing convenience and better service and security. He also emphasized that financial institutions should not only view cybersecurity as a technical issue but as an organizational issue that involves all stakeholders – employees, customers, and platform providers.

SGV Tax Partner Saha A. Bulagsak (SAB) led a webinar titled Recent Developments in Taxation on 18 December hosted by the Philippine Institute of Certified Public Accountants (PICPA) Davao Chapter. SGV Davao Partner-in-charge and Assurance Partner Jose Raoul Balisalisa welcomed participants to the event and Tax Manager Abegaile Marie Gamale moderated the session. SAB discussed recent BIR issuances, particularly updates on income tax, withholding tax and value-added tax. She then provided an overview on the new BIR requirements for taxpayers with related-party transactions and updates on taxpayer rights and remedies, including the Voluntary Assessment and Payment Program (VAPP) for 2018. She also shared insights on the salient features of the Bayanihan to Recover as One Act, the CREATE bill and the government’s 2020 Investment Priorities Plan. The webinar concluded with an open forum where SAB addressed participant questions. PICPA Davao Chapter Vice President Cedric Ian Carlo Petalcorin delivered the closing remarks.

SGV Consulting Partner Allan W. Ocho (AWO), the Project iTeach Team and the SGV Talent Team conducted the first virtual Faculty Immersion Program with faculty and staff from the Holy Angel University (HAU) last 17-18 December. The two-day program is part of the Firm’s Talent initiative to support the faculty members of participating schools and universities and help bridge the gap between classroom concepts and industry practice. Talent Leader and Assurance Partner Julie O. Mateo delivered the welcome remarks. Members of the iTeach Team then discussed current IT trends in accounting and auditing, IT audit in relation to financial statement audit, IT governance and IT management, and managing information technology. Over 20 HAU faculty and staff attended the program, including HAU School of Business and Accountancy Dean Dr. Maria Lina Ramoneda, Associate Dean Albert Morales and Program Chairperson Sandra Brucal. The members of the event’s organizing team were Consulting Managers Jessa Coronado and Kristian Reyes, Senior Associate Marigin Fidel, and Associates Ambreen Qamar and Ralph Crimuel Roxas; and Talent Manager Julie Ann Rubia, and Associates Mariane Kristine Riano and Angelou Ma. Remo.

The Philippine Institute of Certified Public Accountants Southern Metro Manila Chapter (PICPA SMMC), in partnership with the PICPA Northern Metro Manila Chapter (NMMC) and the National Federation of Junior Philippine Institute of Accountants (NFJPIA) NCR South and North Districts, organized a virtual office tour titled TRAVERSE: Unveiling Your Workplace. The event oriented incoming CPA licensure examinees on the possible firms they may join when entering the workforce. SGV Tax Partner and PICPA SMMC President Maricris U. See (MUS) welcomed over 380 students from 25 local chapters to the event. She encouraged them to choose a workplace that will not only provide a stable income, but a nurturing environment where their careers may thrive. She also emphasized that they should consider the company’s values, purpose and positive impact on society. Talent Supervising Associate Julia-Anne Deypalan and Talent Associate Camille Joyce Pascual provided an overview of SGV, its service lines, careers and possible career paths. They discussed the Firm’s workplace environment and culture, emphasizing our Purpose and core values of integrity, excellence and leadership. Consulting Associate Director Mark Andrew Chiu then talked about his SGV story, sharing how his team was able to assist clients in improving their processes and automation. He shared how he was able to pursue further studies and certifications with the Firm’s support. He also explained the various activities and corporate responsibility programs of SGV.   Consulting Partner and advisor to NFJPIA Conrad Alviz and Tax Senior Director Earvin Darren Lee also attended the event. The session concluded with an open forum where speakers addressed participant questions on the Firm’s hiring process and how the COVID-19 pandemic has affected work and internship opportunities.

SGV Partners raise a toast to Itos SGV Partners honored retiring former Chairman and Country Managing Partner (CMP) J. Carlitos G. Cruz (JGC) on 11 December with a program that was webcast from the SGV Development Center. Some of SGV’s leadership and partners who were part of the organizing committee were physically present at the venue and observed proper social distancing and required health and safety protocols. Other partners virtually participated in the celebration from their own offices or homes.  Chairman and CMP Wilson P. Tan (WPT) delivered the opening remarks and commended JGC’s valuable contributions to the Firm that have enhanced our services, empowered our professionals, and developed the accounting profession The first part of the program featured video messages from JGC’s clients, colleagues, former staff and teammates, and family, including several SGV Alumni Partners. They shared how he embodied the different Partner Personas – one who demonstrates integrity and the enthusiasm and courage to lead; delivers exceptional client service; exhibits team leadership; and possesses an entrepreneurial mindset.   JGC then expressed his gratitude to all those who became a significant part of his SGV journey. He also shared his thoughts on the mindset needed for SGV’s continued success, emphasizing the value of long-term growth, continuous training, agility and teaming, and staying connected with the Firm’s stakeholders.  The program also featured video presentations from the SGV Glee Club and the SGV Dance Company. Volunteer dancers from Market Group 4 and our Cebu, Davao and Clark branches also prepared a special video dance performance featuring facility improvements in SGV offices nationwide – which formed part of JGC’s legacy.   This was followed by a virtual after-party hosted by Assurance Partner Raoul Balisalisa. Participants played online trivia games about JGC and listened to more messages from active partners, EY colleagues, his former staff turned clients and friends, and Association of Certified Public Accountants in Public Practice (ACPAPP) members.   In honor of his 39 years of service to the Firm, JGC was presented with a token of appreciation, a sculpture titled Gratitude. It depicts a man amid three deeply-rooted trees whose crowns are fused as one. The trees symbolize SGV and represent the growth of our people, our clients and our country.   We wish you all the best, JGC. 

Tax organizes CREATE webinar  SGV’s Tax Team held a webinar last 14 December on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill, as approved on the 3rd and final reading by the Senate. Chairman and CMP Wilson Tan delivered the opening remarks and welcomed over 1,300 participants from the banking, hotel, manufacturing, real estate, power, BPO and insurance industries, among others.   Speakers and members of the webinar’s organizing team  Tax Leader Fame K. delos Santos (FKS) and Tax Partner Cheryl C. Ong (CCO) discussed the bill’s salient features, developments and incentives in corporate income tax. They also provided insights on how companies can maximize and prepare for the proposed tax reforms. Tax Principal Lucil Vicerra also discussed Customs Audit Reminders, including VAT incentives and Performance Commitments.   The webinar concluded with a question and answer portion led by FKS and CCO, who were assisted by Tax Partner Thyrza Marbas. Tax Senior Manager Betheena Dizon hosted the session. The webinar’s organizing team included Tax Senior Manager Karen Mae Calam; Manager Aiza Giltendez; and Senior Associates Wennonah Marie Garces, Kyle Almero, and Ma. Gabriellen Quijada.