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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. 

Philippine Institute of Certified Public Accountants (PICPA) Angeles City Chapter officers paid a courtesy call on SGV Clark Partners and staff on 21 July 2023. SGV Clark team with PICPA officers The SGV Clark team was led by SGV Clark Partner-in-Charge Margaux A. Advincula. Members included MG7 Leader Jose Pepito Zabat, Tax Partner Hentje Leo L. Leaño, Senior Director Leo Niño Canlas, Associate Directors David Jonathan Manalili, Ezra Yumul, and Elgina Rito, and Senior Associate Angelie Marcelo. They met with PICPA Angeles City Chapter President Aira Vanessa Berces-De Guzman, Public Practice Director Marielle Pamintuan-Palo, Commerce and Industry Director Julyn Nyril Tiatco-Santos, PICPA Angeles City Secretarial Leilani Pablico, and Treasurer Donald Yanga. The teams discussed possible projects, programs, collaborations, and thought leadership activities between the PICPA Angeles City Chapter and SGV Clark. 

The SGV 1 and SGV 2 buildings were recognized by the Green Business Certification Inc. (GBCI) as the first Total Resource Use and Efficiency (TRUE) Precertified facilities in the Philippines. This recognition highlights SGV's commitment to sustainability and environmental stewardship and marks the beginning of its path to full TRUE Certification for Zero Waste.  SGV 1 and 2 buildings This initiative is part of the environmental efforts of the SGV Sustainable Actions for Value-Creation and Enablement (SAVE) Council as the Firm adopts and redefines better ways of doing business, particularly in pursuing and achieving its zero-waste goals while becoming a more resource-efficient organization. GBCI is the world’s leading sustainability and health certification and credentialing body. Its TRUE Certification for Zero Waste program strives to change the way materials flow through society while ensuring that all products are eventually reused and diverted from landfill, incineration (waste-to-energy), and the environment. 

SGV Baguio conducted a two-day Tax Compliance Seminar from 27 to 28 July 2023 at the Venus Parkview Hotel, Baguio City. The seminar discussions focused on the taxation of local accounts payable (AP) process and tax assessment backroom support. It also highlighted the strict rules on substantiation for input VAT and income tax purposes. Eighty-eight participants from various companies attended the event.Leo at the Tax Compliance Seminar SGV Global Compliance and Reporting (GCR) Partner Hentje Leo L. Leaño discussed the basic concepts of input value-added tax (VAT), guidance in determining the proper expanded withholding tax (EWT) base and applicable EWT rates on local purchase transactions, and rules in claiming income tax deductions. He also provided a bonus discussion on the preparation of documents and information for tax assessments. Leo facilitates interactive exercises

SGV Climate Change and Sustainability Services (CCaSS) Senior Associate Raymond R. Paras was a resource speaker at the Mapúa University webinar entitled “Driving Sustainability and Carbon Neutrality: Empowering the Next Generation for a Greener Future” held via Zoom on 29 July 2023. More than 230 participants, composed of students from various local and international universities, educators, industry professionals, and participants from non-government organizations (NGOs) and government agencies attended the webinar. Webinar poster Raymond presented an overview of sustainability where he discussed its definition, pillars, the driving forces that kickstart initiatives and meaningful actions toward sustainable development, and global and local regulatory developments in relation to sustainability reporting. CCaSS Senior Associate Raymond Paras during the webinar He talked about the awareness of different generations on environmental issues and how governments, organizations, and communities can help mitigate their impact. He noted various sources of information that play an increasingly important role in how individuals, across all generations, perceive and react to information. He also described some initiatives of SGV’s Sustainable Actions for Value Creation and Enablement (SAVE) Council such as the SAVE4Water Project and the reusable-clothes donation drive in April 2023. Webinar participants Raymond also discussed actions that can be taken by various generations to build a more sustainable future, including some scenario analysis for the participants. A Q&A session was conducted after the presentation where participants asked for advice on how they can provide sustainable solutions in partnership with local communities. The webinar was conducted in line with Sustainable Development Goals 4 (Quality Education) and 13 (Climate Action) of the United Nations Sustainable Development Goals. It aimed to equip and inspire participants to create a sustainable and carbon-neutral world.

The Climate Change and Sustainability Services (CCaSS) team closed FY23 by observing Philippine Environment Month through a Sustainabits session on e-waste. The session, entitled “Reduce, Reuse, E-Cyle: E-waste management and handling” aimed to advance the audience’s knowledge on Circular Economy by tackling the fastest growing yet valuable waste stream of electronic waste. CCaSS team (right) during the Sustainabits session Business Consulting and CCaSS Partner Conrad Allan M. Alviz welcomed more than 200 attendees and reiterated the importance of contributing to a circular economy by being mindful of e-waste. He urged the audience to share their knowledge with their communities to create a greater impact on the environment. CCaSS Manager Carla Capistrano, Senior Associate KC Corpus, and Associate Marianne Velasco continued the session with their respective discussions. Marianne talked about the definition of e-waste, the types of e-waste and the problem with its over-production versus its low collection rates. Carla then talked about the Tokyo 2020 Medal Project as a case study of e-waste management and recovery of precious metals. KC discussed local e-waste initiatives and urged everyone to practice proper e-waste management through reducing, reusing, and recycling. These include maintaining electronics, re-evaluating purchases, buying used gadgets, and recycling or disposing of them properly by their end-of-life. The session was capped off with a call for the audience’s re-commitment toward responsible action for proper waste management, building on a prior CCaSS session on Circular Economy. The SAVE Council’s Sustainabits initiative is a series of half-hour webcasts covering ideas, movements, principles, and leading industry practices regarding sustainability, social equity, and climate change. 

SGV Clark Partner-in-Charge Atty. Margaux A. Advincula was a resource speaker at the 2023 2nd Quarter General Membership Meeting (GMM) organized by the Clark Investors and Locators Association (CILA) held at the Summerset Ballroom, Old Royce Hotel in Clark, Pampanga on 31 July 2023. The meeting brought together business owners and investors, as well as prominent business leaders in Clark, Pampanga.  Atty. Margaux at the 2023 CILA 2nd Quarter GMM CILA President Dr. Francisco Villanueva Jr. introduced Atty. Margaux as the resource speaker and initiated the discussion on updates on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Implementing Rules and Regulations (IRR) and related Bureau of Internal Revenue (BIR) Issuances, which were included in his President’s Report. He also highlighted the various meetings conducted by CILA in its efforts to reach out to as many people and organizations within the ambit of concerned government agencies such as the Department of Finance (DOF) and the BIR. Atty. Margaux (center) receives certificate and token of appreciation from CILA, represented by its President Dr. Frankie Villanueva (left) and Vice Chairman Radito Tuazon (right) Atty. Margaux led the discussion on updates regarding the CREATE Act and its IRR and recent BIR issuances with a particular focus on the provisions related to the VAT exemption on importation and VAT zero-rating on local purchases by Registered Business Enterprises (RBEs).  (From left to right) Dir. Darwin Malinit, CILA President Dr. Frankie Villanueva, BOC Collector Atty. Noe L. Espenilla Jr., Atty. Margaux, CILA Executive Vice President Evelyn Yumul, and Dir. Froilanda Rodriguez Atty. Margaux was joined by Business Tax Advisory (BTA) Senior Associate Atty. Jessica Ella S. Lagman. 

SGV Clark Partner-In-Charge Atty. Margaux A. Advincula and SGV Global Compliance and Reporting (GCR) Partner Hentje Leo L. Leaño were speakers in the Tax Compliance Seminar hosted by the Philippine Stationers Association, Inc. (PSAI) held on 9 August 2023 at the Diamond Hotel Manila. Leo (left) and Margaux (right) with PSAI officers Leo and Margaux discussed common tax compliance issues encountered by taxpayers. They provided tips on dealing with Bureau of Internal Revenue (BIR) audits and updates on recent tax-related issuances from the BIR.

SGV Consulting Partner Conrad Allan M. Alviz together with Manager Reymark Lazo and Seniors Renz Criste and Karla Espina joined the Philippine Institute of Certified Public Accountants (PICPA) webinar titled “Spotlight on Commerce and Industry – Emergence of AI to Accountancy Profession” organized by the PICPA Quezon Province Chapter via Zoom. Sixty participants from public practice, academe, and commerce and industry sectors attended the webinar. Conrad’s speaker slide Conrad shared his insights on how Artificial Intelligence (AI) is currently shaping the accounting profession across all four accounting sectors – Public Practice, Commerce and Industry, Government, and Education. He discussed the definition of AI and provided a brief background on its evolution. He also demonstrated basic prompts in using ChatGPT, an AI-enabled tool. He provided sample use cases and relevant news on how AI is being used in each accounting sector. He also further elaborated on the key considerations, advantages, and disadvantages of using AI technology.  Conrad concluded the discussion by emphasizing that AI is transforming accountants' roles and skills, necessitating upskilling and training. He also suggested that accountants embrace AI, adopt a culture of innovation, and seek continuous improvement. He also highlighted that while AI offers increased efficiency and decision-making, it also presents challenges like upskilling and training, as well as concerns for trust, safety, and privacy.

SGV’s Financial Services Organization (FSO) team hosted its fourth episode of FStOries with the theme “A Mother’s Unconditional Love” simultaneously at the e-Café and via MS Teams. In celebration of Mother’s Day, it featured Partners who are also mothers. More than 100 participants attended the event. (From left to right) Francis, Janeth, Marga, and Janet at the FStOries Episode 4 session FSO Leader Christian G. Lauron welcomed the participants to the event. FSO Assurance Leader Janet S. Alvarado-Paraiso and FSO International Tax and Transaction Services (ITTS) Advisory Principal Ma. Margarita “Marga” D. Mallari-Acaban were the panelists while Wealth & Asset Management (WAM) Leader Ray Francis C. Balagtas served as the moderator. FSO Partners with in-person participants Janet and Marga talked about the challenges, lessons, and memorable experiences that come with motherhood and shared some advice which helped them get through difficult times. They also talked about their motivation to move forward and advance their careers as professionals concurrent with their commitments and responsibilities at home.  Banking & Capital Markets (BCM) Leader and FSO People Champion Janeth Nuñez-Javier delivered the closing remarks, where she thanked everyone for attending the event. There were also treats served after the session.