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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.   

ANC organizes Blockchain Roadshow in SGV Clark  SGV Consulting Principal Armand N. Cajayon, Jr. (ANC) recently led a briefing on Blockchain Technology for members of the Authority of Freeport Area of Bataan (AFAB) and the Bataan Government at the SGV Clark Office. Governor Abet Garcia and AFAB Administrator Emmanuel Pineda shared the local government’s vision to boost the province’s economic progress by investing in technology.  The title slide of the EY Blockchain Analyzer presentation  ANC discussed the Data Sovereignty and Attestation solution. EY Consulting Assistant Director Craig Farrell presented a demo of the EY Blockchain Analyzer, a platform designed to facilitate and support audit engagement teams in reconciling data between the client’s books and records and the public ledger. Senior Manager Pramod Gopalakrishna and Senior Associate Alexandra Duckett discussed Public Financial Management and presented use case demonstrations. The speakers discussed how EY’s Blockchain solutions can meet the Bataan Government’s requirements for its local ID system. They also explained how the EY Blockchain Analyzer can function as a regulator of virtual currency, helping the AFAB minimize its security risks and streamline its services.   SGV Clark Partners Peps Zabat, Leo Leaño and Margaux Advincula were also physically present at the briefing and observed proper social distancing. Speakers Craig Farrell, Pramod Gopalakrishna, and Alexandra Duckett participated virtually in the event. Other attendees included Bataan BASECo Joint Venture Inc. President Edgie Ruiz, AFAB Deputy Administrator for Operations Alewijn Ong, AFAB Administrator Emmanuel Pineda, and PBG Company Architect Henry Mayuga.   

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! 

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! 

MCM inducted as First Member of PRC CPD Council   Market Group 2 Leader Marydith C. Miguel (MCM) was inducted as the First Member of the Professional Regulation Commission Continuing Professional Development (PRC - CPD) Council for Accountancy, representing the Philippine Institute of Certified Public Accountants (PICPA). PRC Chairman Hon. Teofilo S. Pilando, Jr. led the virtual ceremony on 6 October. PRC Board of Accountancy Chairman Hon. Noe G. Quiñanola was also inducted as the Chairman of the Council. Other attendees included PRC Commissioners Hon. Yolanda D. Reyes and Hon. Jose Y. Cueto, Jr.  The CPD Council for Accountancy is responsible for the promotion and implementation of programs aimed at the continuous improvement of knowledge, skills and competencies of professional accountants.  Congratulations, MCM! 

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. 

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. 

SGV Partners and Senior Director join PCA forum  SGV Market Group 8 Leader Narciso “Jun” T. Torres (NTT), Assurance Partner Wenda M. Loyola (WML) and Strategy and Transactions Consultant Alex Dacanay were guest speakers at the Philippine Constructors Association, Inc. (PCA) Talks series on 19 September. With the theme Looking Ahead: What Our Future Looks Like, the webinar discussed the pandemic’s impact on the Philippine construction industry. Representatives from PCA member companies attended the briefing.     NTT provided an overview of SGV and its services. WML presented a market outlook of the construction sector and discussed latest updates and key forecasts on the global, Asian and Philippine construction markets. Emphasizing the pandemic’s impact on construction and infrastructure, she presented key trends in public infrastructure and green investments, public-private partnerships, and public transit, among others. Alex then shared Philippine economic updates and key economic growth drivers and trends in the construction industry. He discussed the government’s Philippine Program for Recovery with Equity and Solidarity (PH-PROGRESO) plan, including the Bayanihan I and II Acts.   The presentations were followed by a panel discussion led by PCA President Will Decena, SMC TPLEX Corporation Chairman Rogelio Murga, DATEM, Inc. President Morris Agoncillo, and Congressman Bayani Fernando. They discussed the challenges that construction companies face in restarting their businesses and action plans on how they can strengthen their operations and increase their resilience

Tax Partners hold webinar with SEIPI SGV Tax Partners Cheryl C. Ong (CCO) and Deonah Marco-Go (DMG) were resource speakers at the General Membership Meeting of the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) held last 17 September.   CCO led the discussion on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill and its salient provisions. She also provided insights on how companies can maximize the incentives under the bill and prepare for the proposed tax reforms.   DMG discussed the latest BIR Transfer Pricing issuances, particularly Revenue Regulations No. 19-2020 which prescribes the use of the new BIR Form No. 1709, and Revenue Memorandum Circular Nos. 76-2020 and 98-2020 which clarify certain issues on the filing of BIR Form No. 1709 and its attachments. She discussed the issuances’ salient provisions and how taxpayers can comply with the new requirements. 

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.