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.

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.

Clark conducts CREATE webinar with AFAB

SGV Clark and Tax Partners Hentje Leo L. Leaño (LLL) and Margaux A. Advincula (MAA) led a tax briefing on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill for members of the Authority of the Freeport Area of Bataan (AFAB). AFAB Administrator Engr. Emmanuel D. Pineda welcomed over 80 representatives from different companies and organizations to the event.

LLL and MAA presenting at the AFAB webinar

The speakers discussed the latest updates on the CREATE bill, including its salient features and its potential impact on the Bataan locators. They also explained the proposed adjustments in corporate tax and rationalization of fiscal incentives.

Participants included AFAB Registration Division OIC Alejandro Sugatain, Enterprise Services Officer IV Krizzia Katrina Ocampo, Attorney III Reshel Amor Apigo, Atty. Kara Herrera of the Office of Congressman Jose Enrique Garcia, and SGV Clark Partner-In-Charge Peps Zabat. The webinar was moderated by Tax Associate Director Michael Ray Lapasaran.

Talent joins EY Rebuilders Campaign

SGV’s Talent team, together with the EY Talent community, participated in the EY Global Campaign last 14-25 September. With the theme Rebuilding Your Working World, the program aimed to help those impacted by the pandemic to rebuild and restart their careers through a series of Facebook Live workshops on recruitment-related topics.

JOM, Michelle, Krista, KC, Camille and Mariane during the Facebook Live sessions with other members of the EY Talent community

Talent Leader and Assurance Partner Julie O. Mateo (JOM) was one of the speakers at the Inspire & Ignite Graduate Session where she shared stories on her career journey. She encouraged participants to keep an open mind and explore and widen their career options. She also shared tips on how graduates can navigate the new normal working world. SGV Employer Branding Supervisor Michelle Ong moderated the session. Other speakers included Financial Services Organization APAC Talent Leader Young-Sook Stewart and APAC Talent Attraction and Acquisition Director and Global Strategy and Transactions Recruiting Lead Eva Brookes.

Talent Associates Krista De Guzman, KC Dilla, Camille Pascual, and Mariane Riano participated in different Facebook Live sessions on the four crucial areas in rebuilding one’s career journey: becoming one’s best self, creating an effective resume, building a personal brand, and preparing for an interview.

Over 7,400 people from 99 countries joined the Rebuild Your Working World Facebook group, and over 20,000 viewers tuned in to the live sessions. For more information about the campaign, please visit EY.com.

WPT joins Ayala-FINEX Summit

SGV Chairman and Country Managing Partner (CMP) Wilson P. Tan (WPT) was a panelist in the Ayala-FINEX Finance Summit last 9 September. With the theme Reimagining the future. Leading through the unknown, the summit discussed leading practices and business strategies aimed at managing the challenges caused by the pandemic, as well as global megatrends and possible scenarios for businesses in a future beyond the pandemic.

JAZA presenting at the Ayala-FINEX Summit

Ayala Corporation (AC) Chairman and CEO Jaime Augusto Zobel de Ayala (JAZA) shared how AC is reframing the future through innovative and sustainable practices. He emphasized the importance of stakeholder-centric and discovery-driven approaches in optimizing customer reach and experience, designing alternative work arrangements and operating models, and renewing commitment to society. He also presented AC’s digital transformation framework and spoke on the pandemic’s impact on the areas of digital finance, e-commerce and telemedicine, highlighting how it has encouraged them to innovate and redesign their operating models.

WPT presenting at the Ayala-FINEX Summit

WPT commended AC’s people-centric business approach and its commitment to its stakeholders. He also commended AC’s inspiring social corporate responsibility initiatives that strengthen meaningful collaboration across organizations.

Emphasizing the value of digital transformation and innovation strategies, he pointed out that business leaders need to maximize digital platforms to drive long-term value in their organizations, connect with their people, and better serve their clients. WPT shared how SGV has also leveraged on digital platforms to continue delivering exceptional client service during the pandemic.

Tax Partners lead CREATE webinar with CILA

SGV Clark and Tax Partners Hentje Leo L. Leaño (LLL) and Margaux A. Advincula (MAA) led a webinar titled Tax Reform II Bill: Corporate Recovery and Tax Incentives for Enterprises (CREATE) last 16 September. Co-hosted by the Clark Investors and Locators Association (CILA), the webinar provided updates on the CREATE bill and its potential impact on Clark locators. The speakers discussed the salient provisions of the CREATE bill, including its proposed adjustments in corporate tax and rationalization of fiscal incentives. They shared insights on how businesses can prepare for and maximize the incentives of the proposed tax reforms.

LLL, MAA and JEZ presenting at the webinar

CILA Vice Chairman Rene Philip Banzon welcomed nearly 100 participants to the event, including CILA Chairman Dr. Bong Alvaro, Jr. and Clark Development Corporation OIC of the Business Development and Business Enhancement Group Rodem Perez. CILA President Dr. Frankie Villanueva, Jr. shared CILA’s position on the proposed tax reforms. Assurance Partner and CILA Treasurer Jose Pepito E. Zabat (JEZ) delivered the closing remarks and thanked the participants and the webinar’s organizing team. Tax Director Maria Michaela Ledesma moderated the webinar.

CCO joins EY ASEAN Tax webcast

SGV Tax Partner Cheryl C. Ong (CCO) was one of the speakers at the EY ASEAN Tax webcast last 17 September. The webinar covered how ASEAN companies and potential investors can optimize their investments in Malaysia, the Philippines and Myanmar. The presenters discussed how businesses can benefit from a global investment strategy on relocation and expansion, maximizing the benefits of COVID-19-related incentives in the three countries.

CCO presenting at the EY ASEAN Tax webcast

CCO discussed key points and relevant issues in investing in the Philippines and provided an overview of Philippine tax incentives, emphasizing the recent proposed tax reforms and items under the 2017 Investment Priorities Plan (IPP). She also discussed local COVID-19-related incentives under Republic Act No. 11469 or the Bayanihan to Heal as One Act.

Other speakers included EY ASEAN Tax Leader Amarjeet Singh; EY Global Incentives, Innovation and Location Services Leader Brian R. Smith; and EY Myanmar Tax Director Phyo May Thaw.