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SGV alumnus, Association of CPAs for Sustainability Inc. (ACPAFSI) President, and Accountancy Centenary Award of Excellence recipient Dr. Rufo R. Mendoza launched his book titled “Understanding Sustainability in Business” on 9 January 2024. The book was produced with the assistance of the SGV Foundation (SGVF). SGV alumnus and author Dr. Rufo Mendoza “Understanding Sustainability in Business” is a technical-professional book which provides a comprehensive understanding of the scope, frameworks, models, standards, regulations, and laws on the three pillars of sustainability. It can also be used as a textbook or reference book for undergraduate and graduate programs. The book has Chapter Review sections with multiple-choice items, review questions, and chapter activities. Members of SGV’s Climate Change and Sustainability Services (CCaSS) team, Partner Benjamin N. Villacorte, Director Diana A. Sadili-Chu, Senior Associate Raymond R. Paras, and Associates Zachary Y. Jara and Caryll Joy C. Franco, reviewed and provided significant insights around the book's technical facets. SGV Chairman and Country Managing Partner Wilson P. Tan delivers his message  Book launch attendees Professionals interested in sustainability and being part of the conversation on integrating sustainable strategies into their business framework for a healthier planet and a more prosperous future can secure a copy of the book by contacting the SGV Alumni Store (sgvf.admin@sgv.ph). Congratulations, Dr. Rufo!

In pursuit of continuous learning and professional growth, SGV Financial Services Organization (FSO) Financial Crime Risk Management (FinCrime) Anti-Money Laundering (AML) Associate Director Michael Ranz Luigi G. Tabar has obtained multiple certifications. Ranz is now a Certified Anti-Money Laundering Professional (CAMP), Anti-Financial Crime Professional (CFCP), and Certified Audit and Investigations Professional (CAIP).  SGV FSO FinCrime – AML Associate Director Michael Ranz Luigi G. Tabar, CPA, CAMP, CFCP, CAIP Ranz completed a series of courses and modules and passed the respective online examinations for CAMP, CFCP, and CAIP. He was certified by the Financial Crime Academy, an external online education provider for the global anti-financial crime community, in January 2024. The CAMP certification enables professionals to enhance their organization’s AML capabilities and build up their career in financial crime prevention.  The CFCP certification is intended for professionals in departments and functions such as compliance, anti-financial crime compliance, fraud investigation, fraud detection, internal controls, fraud risk management, and internal audit.  The CAIP certification enables professionals to carry out an exhaustive investigation of a company or enterprise to find instances of misconduct by management, staff, or outside parties. Ranz quotes Ashok Veda, saying that upgrading one’s skills is not an option but a necessity. Congratulations, Ranz!

SGV Assurance Associate Claribelle D. Lee ranked 4th in the Sept - Oct 2023 US Certified Management Accountant (CMA) exam. She also received a Certificate of Distinguished Performance Award for completing the exam. The results were announced on 31 January 2024.  SGV Assurance Associate Claribelle D. Lee, CPA, CMA The CMA title is a credential that represents enhanced expertise in areas of accounting and finance, with competencies in strategic thinking, business analysis, and leadership. It is offered by the Institute of Management Accountants (IMA). Congratulations, Claribelle!

SGV Climate Change and Sustainability Services (CCaSS) Principal Bonar A. Laureto was a panel discussion moderator at the Climate Investment Forum (CIF) 2023: Unlocking Climate Resilience and Low-Carbon Investment Opportunities for the Private Sector held at the Crowne Plaza Galleria Manila. The CIF is one of the flagship events of the Climate Change Commission (CCC) for the commemoration of the 16th Annual Global Warming and Climate Change Consciousness Week. SGV CCaSS Principal Bonar A. Laureto (right) with panelists DOTr ASec. Leonel Cray De Velez (left) and DOE Assistant Director William Quinto (center) Bonar moderated the panel discussion featuring Department of Transportation (DOTr) Assistant Secretary for Planning and Project Development Leonel Cray De Velez and Department of Energy (DOE), Energy Policy and Planning Bureau Assistant Director William G. Quinto. The panelists talked about steering investments toward low-carbon pathways. They also discussed the DOTr and DOE’s programs and initiatives surrounding mass transportation and renewable energy, respectively.  SGV CCaSS Principal Bonar A. Laureto with Climate Change Commission, Climate Change Office, Deputy Executive Director ASec. Romell Antonio Cuenca (Photo courtesy of the Climate Change Commission via Facebook) Bonar also raised key questions during the panel discussion, such as the Philippines’ plan on net zero, potential investments that will move the Philippines toward a low carbon economy, enabling policies of the two government departments, and the use of sustainable materials for infrastructure projects. Other discussions covered during the forum focused on (1) policy drivers adopted by the government to catalyze private sector-led investments, (2) sectoral needs to determine investment areas of the private sector, and (3) challenges and bottlenecks observed in advancing investments for climate change initiatives. CCaSS Senior Associates Zoe Aurora H. Romero and Raymond R. Paras at the CIF 2023 Bonar was joined by CCaSS Senior Associates Zoe Aurora H. Romero and Raymond R. Paras, who supported and assisted him during the forum. The CIF 2023 highlighted potential investment areas to be explored by the private sector on various climate-related measures, as driven by policies and mechanisms set by the national government.

The SGV Financial Accounting Advisory Services (FAAS) team hosted a Financial Statements Preparation Workshop on 30 January 2024 at the SGV Makati WSDC Training Rooms. The workshop was attended by 122 participants from 54 companies. The workshop aimed to share leading practices and guide the participants on preparing financial statements. Organizing team with FAAS Partners and resource speakers FAAS Partner Anna Maria Rubi B. Diaz and FAAS Leader Aris C. Malantic delivered the opening and closing remarks, respectively. FAAS Senior Director Jerwin C. Esquibel, FAAS Director Patricia Jazmin D. Patricio and FAAS Director Sheena Dyan C. Suarez led the discussions as resource speakers for the event.  The resource speakers talked about financial statements, their importance, components, preparation best practices, and amendments to Philippine Accounting Standards (PAS) 1 and Philippine Financial Reporting Standards (PFRS) Practice Statement 2’s disclosure of accounting policies. They also shared MS Excel keyboard shortcuts and conducted a hands-on activity on preparing financial statements.  Workshop attendees FAAS Senior Director Alexander F. Bughaw, FAAS Associate Director John Andrew H. King, FAAS Administrative Lead Kristine Kaye E. Bacay, FAAS Senior Associates Liah Marie G. Concepcion, Niña Avanica E. Correa, Darren Alyssa D. Gonzales, and Jade Kenneth A. Calera and FAAS Associates Valerie Ann O. Dacanay, Dona Mae B. Domasian, Theresa Marie T. Roldan and John Froilan P. Vega were part of the organizing team.

Members of SGV’s Financial Services Organization (FSO) Financial Crime Risk Management (FinCrime) Anti-Money Laundering (AML) team conducted a technical training on Anti-Money Laundering and Counter Terrorist and Proliferation Financing (AML/CTPF) for the Association of Certified Public Accountants in Public Practice (ACPAPP) Batangas Chapter. The training was held on 10 February 2024 in Batangas City. SGV FinCrime Senior Associate Damlouie “Loui” R. Valladolid was the resource speaker for the training, while Senior Associates Rubin S. Hollero II and Coleen Mae D. Panuela and Associate Randjee Earl A. Saludares served as facilitators. The session provided insights on the role of accountants and auditors with regards to the Anti Money-Laundering Act (AMLA). (From left to right) SGV FSO FinCrime – AML team members Rubin S. Hollero II, Randjee Earl A. Saludares, Coleen Mae D. Panuela, and Loui R. Valladolid receive a certificate of recognition and a token from incoming ACPAPP-Batangas Chapter President Mark Paul I. Ramos Loui discussed the role of accountants and auditors when it comes to AML/CTF in the Philippines. He explained that their responsibilities start with the registration of the accountant/auditor with the AMLC as covered persons performing covered services. He outlined registration steps during the session, including the documents to prepare, the process of creating a key ID, and the registration proper at the AMLC website. He also discussed the predicate crimes of money laundering. Other topics discussed during the training were an overview of money laundering and terrorist and proliferation financing, the history of the Philippines with the Financial Action Task Force (FATF), the development and implementation of an effective Money laundering and Terrorist Prevention Program (MTPP), customer due diligence, record keeping, and the reporting obligations provided by the AMLC. Typologies from international cases were also included in the presentation. Loui urged the attendees to become promoters of the AMLA and its objectives by fostering a professional environment of compliance, diligence, cooperation, and awareness, to build a better working world. 

SGV held its 2023 Financial Crime Risk Management Forum recently at the SGV Makati office. The forum brought together professionals and executives from the banking industry and regulators to connect and discuss developments, emerging risks, and challenges in the different domains of financial crime risk management, and how financial institutions can transform their operations, processes and systems, and upskill people in managing financial crime risks effectively. Panelists for the 2023 SGV Forum on Financial Crime Risk Management The panelists for the forum shared best practices on how to combat financial crimes. The panelists were Bangko Sentral ng Pilipinas (BSP) Senior Directors Melchor Plabasan and Atty. Florabelle Santos-Madrid, Citibank N.A. Philippines Atty. Narlette Manacap-Jaravata, EY Hong Kong Partner on Regulatory Technology Utpal Patel, SGV Consulting Principal Philip B. Casanova, Forensic and Integrity Services Leader Roderick M. Vega, and Financial Services Organization (FSO) Leader Christian G. Lauron.  FSO Leader Christian G. Lauron, Consulting Principal Philip B. Casanova, Tax Principal Maria Margarita D. Mallari-Acaban, Assurance Partner Miguel U. Ballesteros Jr., FCRM AML/CTPF Partner Veronica Mae Arce Balisi, EY Hong Kong Partner on Regulatory Technology Utpal Patel, Forensic and Integrity Services Leader Roderick M. Vega, and Banking and Capital Markets Leader Janeth T. Nuñez-Javier award certificates of appreciation to the panelists Dir. Melchor Plabasan detailed recent developments in the regulatory landscape and discussed the top three types of cyber incidents in 2022. In addition to outlining the BSP's Cohesive and Comprehensive, Agile and Balanced, Risk-based and Proportionate, Engaging and Collaborative (CARE) Approach to IT Risk Supervision, Dir. Plabasan also introduced Project Advanced SupTech Engine for Risk-Based Compliance (ASTERisC) — a pioneering cloud-based solution that automates BSP’s cybersecurity supervision. EY Hong Kong Partner Utpal Patel discussed technological advancements like Natural Language Processing, AI/Machine Learning, Biometrics, and Blockchain/Distributed Ledger Technology in tackling financial crime. SGV Consulting Principal Philip B. Casanova highlighted findings from an EY Global Cybersecurity Leadership Insights Study and its relevance in the Philippine setting, especially in facing similar cybersecurity challenges. He underlined the persistent need for technology adaptation, given the constant evolution of financial crimes and cybersecurity threats. Philip also advocated for the need to spread cybersecurity awareness in the home, raising the importance of educating families about the risks associated with online transactions. Atty. Matthew David, Executive Director of the Anti-Money Laundering Council, gave his welcoming remarks via recorded video message, emphasizing the importance of staying informed of relevant AML/CTF/CPF Rules to maintain the country's financial integrity. Asia Pacific FSO Risk Management Leader Vicky Lee-Salas and Banking and Capital Markets Leader Janeth T. Nuñez-Javier also attended the event and gave their respective messages to the participants.                                                                     The forum was organized by SGV Financial Crime Risk Management (FCRM) Anti-Money Laundering/Counter Terrorism and Proliferation of Weapons of Mass Destruction Financing (AML/CTPF) Partner Veronica Mae Arce Balisi, Fraud and Forensics Partner Roderick M. Vega, SGV Consulting Principal Philip B. Casanova, FCRM AML/CTPF Director Anne Mariel M. Lagao, Associate Director Michael Ranz Luigi G. Tabar, and Senior Associates Damlouie R. Valladolid, Jacob Raphael T. De Quilla, Christian E. Labanda, Rubin S. Hollero II, and Coleen Mae D. Panuela. According to Veronica, SGV recognizes the critical role that professionals play in combatting financial crime. She added that the SGV Financial Crime Risk Management Forum is set to be an annual event which will continue to provide relevant thought leadership and updates on SGV’s key Financial Crime (AML, cyber and fraud) Risk Management services.

SGV conducted a briefing on the Philippine business climate for members of the Brooklyn Chamber of Commerce’s Trade Mission on 29 January 2024 at the Bayanihan Conference Room in SGV Makati. The Trade Mission provided participants a first-hand view of potential investment opportunities in the country to the member-delegates.  SGV Clark Partner-in-Charge and Head Atty. Margaux A. Advincula (left) and former Ambassador Delia D. Albert (right) during the briefing SGV Clark Partner-in-Charge and Head Atty. Margaux A. Advincula together with former Ambassador Delia D. Albert welcomed the delegates to SGV. They were joined by SGV Chairman and Country Managing Partner Wilson P. Tan. SGV Chairman and Country Managing Partner Wilson P. Tan delivers his message SGV Strategy and Transactions Senior Manager Lester Jeff D. Pawid led the discussion on the country’s economic outlook, providing an overview of the Philippine economy and then discussing Philippine macroeconomic, industrial and policy updates.  Lester leads discussion on the Philippines’ economic outlook The discussion was followed by an open forum, where Lester was joined by Atty. Margaux. They answered questions from the delegates and discussed priority industries, renewable energy, and promotion of sustainability in the country, among others. SGV Partners and Managers with the BCC Trade Mission delegates Hon. Consul General Senen Mangalile and BCC Executive Vice President & Chief Legal Officer Kathie Lee also delivered their respective remarks during the event. They were joined by delegates from the BCC: BCC President & CEO Randy Peers, BCC Manager of Global Affairs Avi Leshes, Industry City Managing Partner Jim Somoza, GreenPower Associates CEO Ian Minerve, President/CEO of Marous Law and VA for Professionals Gabriel J. Marous, Esq., Seek Health AI Founder & CEO Kim de los Reyes, Seek Health AI Co-founder & CTO Jeff Bargmann, and Filipino Community Leader in New York City Roberto Dumaual. On 1 February 2024, the delegates also visited the Clark Freeport Zone. They met with representatives from the Bases Conversion Development Authority (BCDA) and the Clark International Airport Corporation (CIAC). The Clark Development Corporation (CDC) gave them a tour of the Clark Activity Center. They also toured New Clark City and areas within the Clark Freeport Zone. The Trade Mission was organized by the Office of the Philippine Consulate General in New York in collaboration with the Brooklyn Chamber of Commerce. 

SGV Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz and SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte, along with other members of the Makati Business Club (MBC), met with Securities and Exchange Commission (SEC) Commissioner Bryant Fernandez in January 2024.   MBC-SEC meeting attendees (Photos courtesy of MBC) They discussed the revised guidelines on Sustainability Reporting, which would require companies to submit more evironmental, social and governance (ESG) information following global metrics. MBC representatives shared concerns around the challenges of getting some of the required disclosures. SGV served as MBC's technical adviser last year for an MBC report on the State of Sustainability Reporting in the Philippines, which was also shared with the SEC as a policy input. The SEC has required publicly listed companies to submit an annual sustainability report since 2019. The MBC’s work on sustainability and access to information is supported by the Center for International Private Enterprise, a US-based institute that works to support democracy and to strengthen the private sector. 

SGV tabulated the results of The Business Manual’s 1st CEO Awards held on 28 January 2024 at Shangri-la The Fort. The tabulation team was headed by EY Philippines Private Leader and Assurance Partner Kristopher S. Catalan. EY Philippines Private Leader and Assurance Partner Kristopher S. Catalan and Assurance Manager Krys Joanne J. Adison at The Business Manual’s 1st CEO Awards The SGV tabulators were EY Philippines Private Leader and Assurance Partner Kristopher S. Catalan, Assurance Manager Krys Joanne J. Adison, and Senior Associates Casey Andrea D. Abejar and Hersheyllane A. Gilbuena. SGV supports similar events that allow the Firm and its members to make purposeful connections and celebrate accomplished Filipino entrepreneurs and business leaders.  ​ The Business Manual honored 20 of the country’s most influential CEOs, leaders who have displayed exemplary leadership in their respective industries and made significant societal contributions. Five CEOs who embody the publication’s values in line with its mission to Engage, Inspire, Empower, and Educate aspiring business owners and entrepreneurs were also honored during the event.   CEO awardees (left) and Entrepreneurial Excellence awardees (right) “The CEO Awards recognize the remarkable contributions of visionary leaders whose relentless dedication have fostered innovations, shaped industries, and set benchmarks for excellence in our country,” The Business Manual Editor-in-Chief RJ Ledesma said. Read more on The Business Manual: https://thebusinessmanual-onemega.com/