News

SGV Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz (VCR) was one of the inspiring female finance leaders featured in the March 2022 Women’s Month issue of FINEX Focus, the official newsletter of the Financial Executives Institute of the Philippines (FINEX). VCR in FINEX Focus As SGV’s Vice Chair and Deputy Managing Partner, VCR supports the Chairman and Country Managing Partner in overseeing SGV’s overall strategic direction and business growth. As EY Asean Assurance leader, she plays an integral role in the Region by driving Assurance initiatives on sustainable audit quality and efficiency, digital tools adoption and innovation, and service delivery model transformation. VCR also represents the Firm in the Philippine Business Coalition for Women Empowerment (PBCWE). She is a leader committed to providing a nurturing environment where people can develop and achieve their potential to the fullest.  

Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) and CCaSS Senior Director Katrina Francisco were accredited as verification service providers (VSPs) by the Chamber of Mines of the Philippines (COMP).  External verifiers in-training BNV and Katrina were among the first batch of experienced independent experts in social, environmental, mining, and other related sciences who were trained by the Mining Association of Canada (MAC) to be COMP VSPs. The training sessions were conducted in February and March 2022. As VSPs, they will be using measurement tools prescribed by the Towards Sustainable Mining (TSM) program to review the performance ratings of COMP members and ensure that mining operators’ management practices and performance are accurately reflected. TSM is a set of indicators to drive the environmental and social performance of operating mines and ensure key mining risks are managed responsibly and best practices are used at COMP members’ facilities. The program was established by the MAC in 2004 and adopted by the COMP in 2017. It is already being implemented in 10 countries and is rapidly becoming a global standard for responsible mining.

Climate Change and Sustainability Services (CCaSS) Associate Director Diana Rose A. Sadili was one of the speakers on Sustainability Trends for the Future of Food during a series of webinars on Food Systems for Tomorrow. The session was part of the Sustainability Solutions Exchange (SSX) Digital Exhibition and Conference from 23 to 25 March 2022.  Diana with other food and sustainability experts Diana discussed the challenges faced by the food sector and the initiatives adopted by companies toward their transition to a circular economy. She also described the SGV CCaSS team’s active involvement in food companies’ initiatives on non-financial assurance and sustainability and circularity advisory. The webinar was organized by the Center for International Trade Expositions and Missions (CITEM) and the Department of Trade and Industry (DTI). SSX is CITEM’s signature program for the sustainability sector. SSX helps micro, small, and medium-sized enterprises (MSMEs) in their journey to a circular economy in support of the country's Sustainability Development Goals (SDGs).

SGV Consulting hosted a special Women’s Month edition of the SheInspires series focused on Unboxing Gender Bias. About 500 SGVeans attended the virtual event on 11 March 2022. Panelists and moderators during the SheInspires webinar SGV Partners led an open discussion on unconscious assumptions created by gender bias and ways to unlearn harmful gender stereotypes. SGV Consulting Leader Rossana A. Fajardo (RAF), Learning and Development Leader Clairma T. Mangangey (CTM), SGV Talent Leader Julie Christine C. Ong-Mateo (JOM), General Counsel Carolina Francisca A. Racelis (CAR), and Financial Services Organization (FSO) Leader Vicky B. Lee-Salas (VLS) were the panelists during the event.  During the panel discussion, the Partners took turns sharing encounters with strong female leaders, personal experiences on gender bias and ways they overcame it. They noted how cultural and societal expectations based on gender roles continue to affect gender equality. They also provided insights on fostering healthy personal and professional relationships free from gender bias.  Strategy and Transactions (SaT) Leader Noel P. Rabaja (NPR), Consulting Partner Carlo Kristle G. Dimarucut (CGD), and Business Tax Services (BTS) Leader Jules E. Riego (JER) served as moderators. They facilitated the flow of discussion while also offering their respective views on the matter. In closing, the Partners acknowledged that despite their positive professional experiences of inclusivity within the Firm, there is still a lot of work to be done in terms of eliminating gender bias in society. 

SGV Cebu’s Business Tax Services (BTS) Core Team held a webinar on Maximum Relief: Payments to Non-Residents for private professionals from various industry sectors. Over 100 participants attended the webinar on 17 March 2022.  Maximum Relief: Payments to Non-residents webinar participants The webinar was led by International Tax and Transaction Services (ITTS) Partner Betheena C. Dizon (BCD). She provided a comprehensive discussion on the different tax reliefs for non-residents and practical tips to maximize available benefits, tax treaties and their salient features, and both general and specific documentary requirements under Revenue Memorandum Order (RMO) 14-2021. She also discussed issues that may be encountered in the submission of these documentary requirements such as failure to file and late filing penalties. Other topics explained during the session were the tax sparing rule and some of the more common issues relating to payments to non-residents.  The webinar concluded with an open forum facilitated by BCD. Tax Managers Melissa Joyce Y. To and Maria Crisanta Esgana Lee and Tax Senior Associates Aura Mae G. Trinidad, Athena Dominique J. Bandala, Lex Regis B. Bernados, Harold Justin Y. Go, Niño Akeem V. Amistad, and Kara Marie Angela R. Bagunas were part of the event’s local organizing team.

To honor the enduring legacy and relevance of the accountancy profession in the country, SGV Partners joined the launching of the Centenary Year celebration of the Accountancy Profession in the Philippines. The launching of the year-long celebration from 18 March 2022 to 17 March 2023 was held at the Manila Hotel on 17 March 2022.  SGV Partners and PRBOA members at the Centenary launching event SGV Chairman and Country Managing Partner Wilson P. Tan (WPT), Philippine Institute of Certified Public Accountants (PICPA) President Marydith C. Miguel (MCM), Assurance Partners Meynard A. Bonoen (MAB), Aris C. Malantic (ACM), Aileen L. Saringan (ALS), Peter John R. Ventura (PRV), and John T. Villa (JTV), and Tax Partners Aaron C. Escartin (ACE), Maricris U. See (MUS), Sonia D. Segovia (SDS), and Henry M. Tan (HMT) attended the launching of the centennial celebration with the theme “Celebrating the Past. Transforming the Present. Shaping the Future.” The event was also graced by Commissioners from the Professional Regulation Commission (PRC) and the Securities and Exchange Commission (SEC) and other distinguished individuals and luminaries in the profession. The Professional Regulatory Board of Accountancy (PRBOA), led by BOA Chairman Noe G. Quiñanola, formally announced the start of the year-long celebration. During the event, they also launched the “Accountancy Centenary Award of Excellence,” a search for 100 Filipino CPAs worthy of honor and emulation— individuals who have made a mark in the accountancy profession. The launch is the first in-person event organized by the PRBOA since the pandemic began. The accountancy profession will officially be marking its centenary milestone on 17 March 2023.

The SGV SAVE Council hosted a special Women’s Month episode of the Sustainabits series focused on integrating sustainability into diversity, equity, and inclusiveness (DE&I) initiatives. About 400 SGVeans attended the event on 25 March 2022. Faw and Erika talk about sustainable local weaving traditions and products The Weaving Sustainability into DE&I episode featured Founder of Malingkat Enterprise Faw Maridul, a cause-driven entrepreneur and cultural advocate promoting and supporting Philippine indigenous weaving traditions. Her online retail brand, Malingkat Weaves, makes indigenously crafted home and lifestyle products more accessible to Filipinos. Climate Change and Sustainability Services (CCaSS) Head Partner Clairma T. Mangangey (CTM) kicked off the session by sharing her fondness for local products and culture. CCaSS Director Erika N. Courteille then hosted the fireside chat with Ms. Faw. They talked about Ms. Faw’s heritage and inspirations upon establishing Malingkat, the local weaving traditions of Mindanao tribes such as the Yakan and Maranao, and sustainable ways of creating handwoven textiles in partnership with these indigenous weavers. The session concluded with closing remarks from Talent Leader and SGV Purpose Council Co-Chair Julie Christine C. Ong-Mateo (JOM). She also presented a Certificate of Appreciation to Ms. Faw for sharing her valuable knowledge and insights on working with indigenous communities.

Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) was one of the keynote speakers in The American Chamber of Commerce of the Philippines Inc. - Financial Services, Taxes & Tariffs (AmCham Philippines FSTT) and Sustainability Committees’ virtual joint discussion entitled "Finding Ways to Navigate ESG and the SDGs" held on 8 February 2022.  BNV talks about sustainability BNV shared his insights on sustainable development goals (SDGs) and why the private sector should care about sustainability. He also discussed matters related to the global and local sustainability reporting landscape. He concluded his talk with SGV/EY’s sustainability journey and initiatives aligned to SDGs. AmCham Philippines serves the interests of Philippine and American businesses through the participation of members in promoting their long-term objectives while contributing to the civic and economic development of the Philippines.

Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) was one of the resource speakers in the [B]Next: Environment & Sustainability webinar series #3 (Responsible Industries) organized by the Philippine Institute of Chemical Engineers (PIChE) – Batangas Chapter on 5 March 2022. BNV receiving a certificate and token of appreciation BNV discussed the sustainability reporting landscape in the Philippines and the future of sustainability reporting aligned with the roles of chemical engineers and related professionals in addressing Environmental, Social, and Governance (ESG) risks and impacts. The webinar was anchored on the theme “Capacitating and Empowering Next Generation Engineers in Catalyzing a Sustainable Future” and was attended by chemical engineers, pollution control officers, and other professionals in related fields of specialization.

SGV Davao Partner-In-Charge Jose Raoul J. Balisalisa (JJB), Global Compliance & Reporting (GCR) Partner Hentje Leo L. Leaño (LLL), and Private Tax Partner Thyrza F. Marbas (TFM) were featured in the "Mindanao Talks 2022: Updates on Tax and BIR Audit" webinar organized by the European Chamber of Commerce of the Philippines (ECCP) in collaboration with SGV & Co. on 24 February 2022. JJB moderated the event while LLL and TFM served as resource speakers. LLL provided an in-depth discussion on BIR Rulings, while TFM shared updates on BIR audits. TFM, LLL, and JJB during the Mindanao Talks 2022 webinar The webinar was conducted to disseminate information regarding tax and BIR audit updates and provide an outlook on their impact on the economy's growth. The event was attended by more than 60 participants from different industries nationwide.