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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.

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.

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.

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.

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.

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.

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.

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 Chairman and Country Managing Partner Wilson P. Tan (WPT) was elected as a Governor of the Management Association of the Philippines (MAP) and Director of the Financial Executives Institute of the Philippines (FINEX) for 2021-2022.    As a longtime member of both organizations, he will continue to support MAP’s vision of promoting management excellence for nation building and FINEX’s mission of promoting the progressive and innovative application of financial knowledge and skills to society.  Congratulations, WPT!    

SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) was a speaker at a recent executive roundtable discussion titled Engaging CEOs in Advancing Workplace Gender Equality and Rebuilding Inclusive Organizations. Hosted by the Male Champions of Change Philippines and the French Chamber of Commerce Philippines (CCIFP), the session covered how different industry leaders are upholding gender equality in their respective organizations. Other resource speakers included GPT Group CEO Bob Johnston and JLL Philippines Country Head Christophe Vicic. CCIFP Managing Director Maylis Charlat welcomed the participants, who included executives from CCIFP member companies, as well as SGV Assurance Partner and Talent Leader Julie O. Mateo and Financial Services Organization Partner Miguel Ballelos. WPT discussed EY global initiatives in promoting diversity and inclusion in the workplace, and empowering women in business, such as EY’s Women Fast Forward program and SGV’s Economic Dividends for Gender Equality (EDGE) certification. Emphasizing the value of sustainability, he shared how the Firm’s business model – focused on strengthening our people, operations, supply chain and communities – is also aligned with the UN Sustainable Development Goals aimed to address complex global challenges. Philippine Women’s Economic Network (PhilWEN) Chair, Philippine Business Coalition for Women Empowerment (PBCWE) Co-Chair and SGV Alumna Partner Boots Garcia moderated the roundtable discussion and PBCWE Executive Director Julia Abad delivered the closing remarks. All speakers committed to continuing their collective action to achieve gender equality.