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Part 1

The Company

This section presents the background of the company such as its main

office and branches, the services offered by the company and the number of

personnel in the company. It also contains the organizational structure of the

company such as the organizational chart, the duties and responsibilities of the

employees and the qualifications required by the company.

1.1. Company Background

The year 1946 marked the beginning of SGV & Co.’s history. At the time

when the Filipinos were preoccupied with rebuilding the country after World War

II, Washington SyCip, armed with a keen business sense and a vision for this

country, opened a one-man accounting firm. The Firm changed its name twice:

first in 1947, to SyCipVelayo Jose & Co., and again in 1953, to

SyCipGorresVelayo & Co. (SGV & Co.). SGV & Co. is 72 years of existence and

is considered Philippines’ largest multidisciplinary professional services firm with

eight offices across the country which employs close to 6,000 professionals in

the country.

They provide integrated solutions that draw on diverse and deep competencies in

assurance, tax, transaction and advisory services. They uphold the highest

standards of quality. In fact, the assurance service line of SGV & Co. has been

ISO 9001-certified since 1996. Lastly SGV & Co. is a member practice of Ernst &

Young with a global mindset and global strategy.

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1.1.1. Main Office and Branches

Main Office

 Makati City

6760 Ayala Ave. Makati City

1226 Metro Manila, Philppines

Branches

 Bacolod

302 A. Chan Bldg. Lacson St.,

Mandalagan Bacolod City

6100 Negros Occidental

 Baguio

3F Insular Life Bldg.

Legarda Road corner Abanao St

2600 Baguio City

 Cagayan de Oro

Suites 4 & 5, Fourth Level

Gateway Tower 1,

Cagayan de Oro City

 Cavite

Metrobank Rosario Branch

Gen Trias Drive, Tejero

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Rosario, Cavite

 Cebu

Unit 1003 & 1004, Insular Life

Cebu Business Centre

Mindanao Avenue Biliran Road

Cebu Business Park, Cebu City

 Davao

5th floor, Topaz Tower,

Damosa IT Park

J.P. Laurel Ave., , Davao City

 General Santos

2/F ELAN 3 Building

Roxas Avenue

9500 General Santos City

1.1.2. Services

SGV & Co. offers a variety of services for its different clients:

Assurance & Advisory Business Services

SGV & Co. provide assurances to management, corporate

directors, investors, lenders, and others. These include assurances

on the reliability of financial and nonfinancial information, business

processes and controls, regulatory compliance, and information

used in strategic transactions.

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 External Audit

 Compilation and Review Service

 Accounting Consultations

 International Accounting Standards Conversion and

Advisory

 Regulatory Compliance

 Accounting Advisory and Consultation

Services on Deal Structuring

 Due Diligence W ork

Business Risk Services

SGV & Co. provide solutions to help companies understand

and manage their business risks better and improve business

processes and controls through value-adding internal audit

solutions and enterprise risk management services.

Corporate Finance

SGV & Co. assist clients in creating, enhancing, and

maximizing enterprise value by originating and executing

transactions, such as mergers, acquisitions, and divestitures;

facilitating access to capital markets; devising strategies to optimize

the value of real estate assets; and developing restructuring

programs.
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Tax Services

SGV & Co. help businesses maximize value by identifying

and implementing comprehensive strategies for corporate,

international, indirect, and local taxes. Additionally, we provide

services to help individuals and families build and preserve wealth.

 Tax Compliance Review

 Tax Planning Engagement

 Tax Due Diligence Review

 Tax Advocacy/Controversy W ork

 Litigation Support Services

 Investment Advisory Services

 General Advisory Services

 Contract Tax Services/Outsourcing

 Income Tax Return Preparation

Technology & Security Risk Services

SGV & Co. help clients understand and manage business

risks that can impact performance and financial results, including

risks relating to business processes, technology, regulatory

compliance, government contracting, fraud, and treasury and

trading activities.
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1.1.3. Number of Personnel

SGV & Co. Gensan branch has 19 personnel which includes the

Partner in-Charge, Senior Director, three (3) Senior Associates, and

fourteen (14) Assurance Associates.

1.2. Organizational Structure

Organizational structure is a hierarchical arrangement of lines of authority,

communications, rights and duties of an organization. It determines how the

roles, power, and responsibilities are assigned, controlled, and coordinated, and

how information flows between the different levels of management.

1.2.1. Organizational Chart

The organizational chart of SGV & Co. is shown in Figure 1.1

wherein the segregation of duties of each employee is also displayed.

Figure 1.1. Organizational Chart of SGV& Co. GenSan

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In this organizational chart, every branch has a Partner in-Charge.

The Senior Director is the Unit Head of the Gensan Branch. Also, there

are Senior Associates together with the Associates.

1.2.2. Duties and Responsibilities

The following are the duties and responsibilities of the personnel of

SGV & Co. Gensan Branch:

Senior Director

 To facilitate the team’s settling goals, objectives, and strategies

to meet the client’s needs and to meet the overall timetable,

while maintaining audit quality.

 To facilitate the team’s agreement on its ground rules for team

behavior.

 To manage the execution of the audit engagement.

 To identify and monitor the achievement of the individual team

member’s performance objectives.

 To determine the proper disposition of the complex audit and

accounting issues noted in the client’s environment.

Senior Associate

 To perform detailed and/or other reviews of the audit work as

appropriate.

 To update the executive members of the engagement team of

any audit issues encountered during the audit of Company’s

books.
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 To co-develop with Senior Director the audit work program

applicable to the client.

 To monitor time changes incurred and timeline of the

engagement.

 To actively participate in the discussion of the audit issues with

the client’s personnel.

Associate

 To perform year—end audit procedures in line with global audit

methodology of Ernst and Young Global.

 To document the audit procedures in electronic working papers.

 To assist in obtaining an understanding of the client’s business

processes and internal control structure through inquiries,

observations, review of data, examination of documents,

walkthroughs/testing’s of system and procedures.

 To analyze client’s accounting records, balance sheets and

profit and loss statement and other financial and operating data.

 To assist in the identification of areas for improvement in the

client’s operational and internal control structure and

procedures, and in preparation of reports thereof for submission

of client’s management.

1.2.3. Qualifications

This section pertains to the required qualities and capabilities of the

corresponding positions in SGV & Co.

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Qualifications are the capacity, knowledge, or skill that matches or

suits an occasion, or makes someone eligible for a duty, office,

position, privilege, or status. Qualification denotes fitness for purpose

through fulfilment of necessary conditions such as attainment of a certain

age, taking of an oath, completion of required schooling or training, or

acquisition of a degree or diploma. Qualification does not necessarily

imply competence.

Qualifications are the precise limitation (from general to particular)

of language, scope, or terms that would otherwise be interpreted broadly

or differently.

The minimum requirement to be employed in SGV & Co. is to be a

Certified Public Accountant.

To be promoted, there are two bases. First is based on the number

of busy seasons spent on the company. Second is based on the

evaluations of the co-workers you have worked with. Some qualifications

include the following:

 People who excel;

 People with integrity;

 People who demonstrate respect;

 People who are good at working in teams;

 People with energy, enthusiasm and the courage to lead; and

 People with determination and personal ambition.