EY IFRS Global Leader visits SGV


On 24-25 November, EY Global International Financial Reporting Standards (IFRS) Leader and Senior Technical Partner Leo van der Tas visited SGV for the first time. Highlights of Mr. van der Tas’ two-day visit include meeting with Philippine regulatory agencies such as the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP), an Executive Briefing on International Accounting Standards Board (IASB) developments, and a meet and greet session with partners and managers of the Accounting Standards Group (ASG) Team.

Together with several SGV partners, Mr. van der Tas met with the officers of the SEC and the BSP to discuss the initiatives of the IASB and how other jurisdictions are preparing for the adoption of new major accounting standards such as the IFRS 15 Revenue from Contracts with Customers, IFRS 9 Financial Instruments and IFRS 16 Leases.

Mr. van der Tas also spoke in an Executive Briefing held at the WSDC Training Room, which was attended by over 80 audit committee heads and key finance officers from the Firm’s key clients. Chairman and Managing Partner Vic Noel formally welcomed the participants to the briefing. Mr. van der Tas’ talk focused on the opportunities and challenges of the recent IASB developments and early adoption measures. He also discussed challenges faced by other companies worldwide in order to help top executives and financial officers prepare for the adoption of the new rules. An open forum was also conducted after the lecture.

Mr. van der Tas’ visit was organized by ASG Head Yen Abarca, Senior Director Emie Villanueva and Manager Cristina Sze.