February 2026 Articles - Suits the C-Suite

20 February 2026

Noel Andro D. Bico

A pivotal point: Reflections on the tax audit suspension and its resumption

In brief:The Bureau of Internal Revenue (BIR) suspended tax audits to address systemic weaknesses and improve the integrity of audit operations.The suspension was lifted with new guidelines that emphasize a single-instance audit framework, consolidation of pending audits, and a more objective selection process to enhance transparency and accountability.Taxpayers now must adapt to a more structured audit environment that prioritizes compliance, documentation, and preparedness, fostering a fairer tax landscape that benefits both the government and taxpayers.“As the BIR implements these reforms, the emphasis on transparency, accountability, and fairness in the audit process is expected to foster a more equitable tax environment."The suspension of tax audits by the Bureauof Internal Revenue (BIR) was not simply an operational interruption. It was aninstitutional acknowledgment that something deeper needed attention. For taxpayers and practitioners alike, itvalidated the long‑held view that tax enforcement is only effective whengrounded in a fair, consistent and well‑controlled audit process. As the BIRseeks to modernize and enhance the integrity of its audit operations, bothtaxpayers and practitioners are left to navigate the implications of thesechanges.This article explores the basis for thesuspension, the resumption of audit activities, and the new framework that willgovern tax audits moving forward.The basis for the suspensionThe suspension was first imposed through RevenueMemorandum Circular (RMC) No. 107-2025 on 24 November 2025, following numerousconcerns raised by taxpayers, stakeholders and internal units about irregularaudit practices and inconsistencies across audit execution.Through RMC No. 109‑2025, issued on 12 December2025, the BIR clarified that the purpose of the suspension was to addresssystemic weaknesses in the audit process, protect taxpayer rights, and improvethe integrity of audit operations. The BIR acknowledged the need to correctoperational issues and develop a more transparent, standardized and modernizedaudit system. Resumption of audit activitiesThe suspension was formally lifted throughRMC No. 8‑2026 dated 27 January 2026, restoring all tax audit and fieldoperations previously suspended under RMC Nos. 107‑2025 and 109‑2025. This included the resumption of: Issuance of Electronic Letters of Authority (eLAs), Mission Orders (MOs), and Tax Verification Notices (TVNs)Continuation of previously suspended audit casesEnforcement, verification, assessment, and collection activities requiring field auditsAll other actions which are necessary to protect revenue or enforce compliance.All tax audit and related field operations aremandated to comply with the new guidelines provided under Revenue MemorandumOrder (RMO) No. 1-2026, also dated 27 January 2026.The new audit environmentRMO No. 1‑2026 introduced a refreshed auditframework centered on consistency, control, and accountability. Among its keyreforms are:Single‑instance audit framework. Taxpayers will now be subject to only one eLA per taxable yearcovering all internal revenue tax types, including value-added tax (VAT),subject to limited exceptions such as fraud cases, one‑time transactions, taxclearance requests and business closure cases. This framework addresses thelong-standing issue of overlapping or redundant audits. Consolidation of pending eLAs. Beginning 4 March 2026, all pending eLAs for the same taxpayer andtaxable year will be automatically consolidated into a single eLA unless thetaxpayer opts out through a written request.System-assisted and anonymized selectionand assignment process. New eLAs will now be issuedthrough a system‑assisted, anonymized selection and assignment process thatrelies on automated risk parameters. This reduces discretion, minimizespotential manipulation, and supports a more objective audit selection process.Removal of VAT audit sections and audittask forces. The BIR abolished the VAT AuditSections and other audit task forces, confining audit authority to the LargeTaxpayers Service and regional offices to ensure clearer oversight.Proper audit and assessment procedures. The RMO mandates the use of standardized audit checklists,complete documentation of audit activities, and signed minutes of discussionsby both the taxpayer and the Revenue Officer. It also prohibits the issuance ofunreasonable assessments. Assessment notices must address only the issues thatremain unresolved after the discrepancy discussion and must clearly presenttheir factual and legal bases, in compliance with due process requirements.What this means for taxpayersThe resumption of audits under this revisedframework marks a shift not only in policy but in tax audit culture. What beganas a temporary stop has become a pivotal point, reshaping expectations for boththe BIR and the taxpayers it oversees.Moving forward, taxpayers can expect:More structured and transparent auditsCloser scrutiny of both factual findings and legal basesGreater emphasis on documentation and record-keepingStronger accountability and oversight from revenue officersWith RMC No. 8‑2026 lifting the audit suspensionand RMO No. 1‑2026 reshaping the audit system into one that is more data‑driven,risk‑based, and accountable, taxpayers now operate in a more rigorouslandscape. Working towards a more efficient and fair tax landscapeIn this environment, preparedness is morethan a defensive measure. It is a strategic practice that safeguards businesscontinuity, supports compliance, and strengthens trust in the tax system. A taxaudit may begin with the BIR, but the advantage always belongs to the taxpayerwho is ready.As the BIR implements these reforms, theemphasis on transparency, accountability, and fairness in the audit process isexpected to foster a more equitable tax environment. Taxpayers must adapt tothis new framework by enhancing their compliance practices and ensuring thatthey are well-prepared for audits. The changes signal a commitment to a morerobust and trustworthy tax system that benefits both the government and thetaxpayers it serves. By embracing these developments, stakeholders can workcollaboratively towards a more efficient and fair tax landscape in thePhilippines.Noel Andro D. Bico is a Senior Director from the GlobalCompliance & Reporting Sub-Service Line of SGV & Co.This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinions expressed above are those of the author and do not necessarily represent the views of SGV & Co.

16 February 2026

Smith C. Lim and Chip A. Maalihan

Driving sustainable energy solutions in the Philippines: From vision to action

In brief:Energy providers must evolve from traditional utility roles to offer customized, flexible solutions that meet the specific needs of businesses, particularly in the context of sustainability and digital transformation.The Philippine energy market is seeing increased competition and innovation, with companies seeking energy-as-a-service contracts and advanced digital tools to enhance efficiency and support sustainability goals.Strategic partnerships and a deep understanding of diverse business energy needs are essential for energy providers to create value, drive economic prosperity, and support the transition to renewable energy sources in the Philippines.“Fostering collaboration with other organizations will be key to creating innovative solutions that meet the diverse needs of business customers, ultimately enhancing the energy experience and supporting businesses in achieving their energy ambitions."Businesses are increasingly recognizing the critical role that energy plays in their operations, prompting a shift away from traditional utility services towards more flexible and customized solutions. As sectors such as technology and automotive innovate within the energy market, energy providers must adapt to meet the diverse and complex needs of their business clients. With the government and private sector committed to a greener future, energy providers have a unique opportunity to redefine their services, enhance their offerings, and support businesses in achieving their energy objectives while navigating the challenges of a changing energy climate.In the first part of this article, we discussed the significant transformation of the energy landscape driven by rising electricity demand from businesses, highlighting the need for local energy providers to adapt their strategies to meet complex client needs and capitalize on opportunities for sustainable and reliable energy solutions. In this second part, we discuss the evolving role of energy providers as they seek to enhance their offerings and better serve business clients by focusing on customized solutions, digital innovation, and strategic partnerships that align with the growing demand for clean energy and operational flexibility.The evolving role of energy providersAs businesses recognize the importance of energy in their operations, they are seeking more than just traditional utility services that could provide flexibility and customization based on their specific needs. Energy providers must adapt to this changing landscape by broadening their definitions of service. Companies from various sectors, including technology and automotive, are entering the energy market with innovative solutions. For instance, a Swedish EV manufacturer has implemented an app that streamlines EV charging management for customers across Europe. In the Philippines, developers will need to develop cutting-edge solutions that fit the current advancements of the country. Addressing the need for automation and streamlining of energy-related processes would give businesses the ability to modify their chosen solutions not only to fit their unique energy needs but also to the energy climate of the country. Aside from revamping and adding offerings, the upskilling of the workforce will also be required. Many organizations plan to upskill existing employees, hire new specialists, and partner with external experts to navigate the complexities of energy management. This shift presents a significant opportunity for energy providers to demonstrate their value and support businesses in achieving their energy objectives.Findings from the EY Navigating the Energy Transition research program, which surveyed economies at different stages of energy transition, underscores the need for energy providers to focus on consumer-centric strategies such as customized energy solutions, energy efficiency consulting, and digital tools and analytics. For the Philippines, a consumer-centric energy provider fulfills the following roles: Choice provider: Some of the conglomerates or prominent energy producers are already in the retail market. The country’s Retail Competition and Open Access (RCOA) mandate provides competition and options for the contestable customers. They have the power to choose a tariff that aligns with their preferences whether on cost, risk, or sustainability objectives. Efficiency partner: Aside from conglomerates and energy producers venturing into a retail electricity supplier, some of them are also in energy efficiency space. Usually, they provide consultancy to businesses for energy savings, but to fully embody the evolving landscape, they can offer Energy-as-a-Service contracts that bundle lighting, HVAC optimization, high‑efficiency motors, and ISO 50001-compliant energy management systems. Digital optimizer: Advanced metering infrastructure and other digital tools could be part of the consumer-centric initiatives that the energy providers may offer. It will support the retail aggregation program of the Department of Energy (DOE).More than the savings and digitization, sustainability is also a top priority for businesses, with nearly all surveyed organizations setting goals to increase their use of carbon-free energy. However, companies may be unwilling to compromise growth in pursuit of sustainability. They expect customized energy solutions that align with their specific needs and are willing to invest in on-site power generation and battery storage.Philippine companies are no longer treating sustainability as a “nice‑to‑have.” It now sits alongside cost efficiency and digital transformation as a board‑level priority. The Philippine government, together with private companies, is making significant strides in the sustainability space through renewable energy generation, with projections indicating that over 11,000 megawatts (MW) of clean energy capacity will be operational by 2030. According to the DOE, solar photovoltaics are expected to contribute the largest share, with approximately 8,431 MW planned, and around 7,399 MW anticipated to be operational by 2026. Moreover, distributed solar and storage are moving from pilots to portfolio strategies. The DOE reports cumulative net‑metered solar at approximately 141 MW from the past 10 years and at least 252 MW of own‑use projects, which clearly signals a steady shift behind the meter. On the storage side, policy and market design are catching up: DOE Circular 2023‑04‑0008 established Battery Energy Storage System (BESS) policy for the power industry, commitments of about 1,850 MW by 2030, and major integrated solar‑plus‑BESS or integrated renewable energy storage system (IRESS) deals by leading developers. With these continued efforts from both public and private sectors, energy providers must recognize the growing demand from businesses in the Philippines for sustainable solutions and collaborate with them to create innovative offerings that harmonizes growth and sustainability.Strategic actions for energy providersEY’s latest research on business energy demand reinforces the urgency: commercial and industrial loads will drive the next wave of electricity growth, so winning providers will be those that reimagine the business energy experience end‑to‑end.Enhancing digital offerings is essential for meeting the evolving expectations of business customers. Providers should focus on developing advanced digital tools that deliver proactive insights and facilitate AI-enabled interactions, allowing customers to self-serve and analyze their energy consumption patterns. Even though the Philippines differs in terms of level of advancement in digital infrastructure to other countries, developers could learn from the experience of others in integrating technology into their energy processes and services and tailor them to the country’s own landscape. To drive energy prosperity, energy providers should deepen their understanding of business customers by moving beyond traditional categorizations and grasping the diverse drivers of energy needs. This tailored approach will enable providers to align their services more effectively with the specific requirements of different organizations. Empowering account managers to become energy success managers through internal upskilling is also crucial, as this transformation will yield strategic partnership, equipping them to offer personalized and data-driven recommendations and insights that help businesses navigate their energy challenges.Additionally, energy providers must prioritize support for mid-sized businesses, which often face barriers in achieving their energy goals. Offering scalable solutions and flexible financing options could create significant value for this segment and contribute to broader economic prosperity.Finally, clarifying their roles within the energy ecosystem will be vital for providers. They should define a clear strategy that aligns with the needs of businesses and captures new value opportunities. Fostering collaboration with other organizations will be key to creating innovative solutions that meet the diverse needs of business customers, ultimately enhancing the energy experience and supporting businesses in achieving their energy ambitions.From a global perspective to a localized lensThe path to sustainable energy in the Philippines goes beyond by just adding renewables — it envisions recasting the way energy solutions are conceived, commercialized, and experienced. The drive for sustainability is about moving from transactional supply to strategic partnerships that align with business requirements, using digital platforms suitable for local infrastructure, and creating financing frameworks that bring adoption to the whole range of businesses. It is also about defining clear roles in the energy system and fostering partnerships to accelerate grid modernization and innovation.By embracing customer-centric design, leveraging advisory knowledge, and implementing frontline digitalization, energy providers can transition from being commodity traders to enablers of resilience and growth, acting as accelerators of the green energy transition. This approach will not only facilitate cost savings for enterprises and help achieve environmental, social, and governance (ESG) targets, but also contribute to national targets of 35% renewable energy share in 2030 and 50% in 2040, making sustainability not just an environmental objective but also an economic advantage.Smith C. Lim is the Energy Sector Leader and a Strategy and Transactions Partner, and Chip A. Maalihan is a Strategy and Transactions Associate Director, both of SGV & Co.This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinions expressed above are those of the authors and do not necessarily represent the views of SGV & Co.

06 February 2026

Smith C. Lim and Chip A. Maalihan

Driving sustainable energy solutions in the Philippines: From vision to action

In brief:The global energy landscape is transforming due to rising electricity demand driven by factors such as data center proliferation, electrification, and increased manufacturing, with businesses expected to account for a significant portion of this growth in the Philippines.Local energy providers must rethink their strategies to meet the complex needs of business clients, focusing on diverse energy sources and customer-centric solutions to capitalize on the growing demand for clean and reliable electricity.The Philippines faces challenges such as high electricity costs and grid constraints, but opportunities exist for energy providers to deliver innovative, adaptive solutions that prioritize sustainability, operational flexibility, and customer satisfaction.“With facilitating policies, favorable economics, and an engaged innovation environment, energy providers have the opportunity to develop sophisticated, adaptive, and data‑replete solutions to address the diverse requirements of businesses."Globally, the energy landscape is undergoing a profound transformation, with businesses at the forefront of rising electricity demand. Factors such as the proliferation of data centers, increased electrification, and heightened manufacturing activities have led to unprecedented growth in electricity consumption. As companies navigate uncertainties and shifting trade dynamics, they are prioritizing energy strategies to secure their operational futures.This surge in demand presents a unique opportunity for energy providers and the broader energy ecosystem. However, many providers focus primarily on residential consumers, leaving the complex needs of business clients untapped. While it is happening in the global stage, the Philippines is at a strategic position to capitalize on this opportunity. During the Philippine Energy Transition Dialogue on 02 September 2025, Secretary Sharon S. Garin reaffirmed the government’s commitment to energy transition and stated, “We are serious, not just the government but also the private sector, in making this country greener and more secure as far as energy is concerned.” To seize this opportunity, local energy providers and other stakeholders in the whole value chain must be willing to rethink their approach, exploring diverse energy sources and redefining their roles in the energy landscape.The important question now is, “How will the Philippines drive sustainable energy solutions?”Understanding the Philippine business energy landscape from a global perspectiveThe demand for industrial electricity is expected to escalate significantly, with businesses driving much of this growth. Research by the EY Navigating the Energy Transition research program, which has surveyed nearly 100,000 residential energy consumers and more than 2,400 energy leaders and decision-makers across eight countries (Australia, Germany, Canada, Ireland, UK, US, Sweden, and Malaysia), indicates that three-quarters of the projected increase in electricity demand will come from business customers. Factors such as the adoption of electric vehicles (EVs), advancements in technology, reshoring of manufacturing, policy mandates, and the need for new equipment are contributing to this trend. In fact, 80% of businesses anticipate an increase in their electricity consumption within the next three years. In the Philippines, these global trends are playing out against a backdrop of rising electrification and an ambitious green energy transition. With the recent Power Development Plan (PDP) 2023-2050, the Department of Energy (DOE) projects peak demand to grow from 16,596 megawatts (MW) in 2022 to 68,483 MW by 2050, an annual average increase of 5.2%. The following are some of green reasons that drive the enterprise load in the Philippines:Electrification of the transport sector: Since the passing of the Electric Vehicle Industry Development Act (EVIDA), the EV adoption has seen increasing numbers and is expected to move from niche to scale. EVs will be complemented with 7,300 charging stations targeted to be implemented by 2028. Growing digital economy: The Philippines has been beefing up its data infrastructure with 300 MW in the pipeline. Currently, data centers are housed in Cavite, Laguna, Rizal, Tarlac, and Metro Manila. Data center market is projected to approach USD 2Bn by 2030 driven by surging digital demand and hyperscaler interest.Industry-led growth: Simultaneously, businesses are increasingly sourcing renewable energy through programs like the Green Energy Option Program (GEOP) which allows firms to cut costs and significantly reduce emissions while ongoing industrial modernization is on the way.These are a few of the several reasons why the industrial electricity demand in the country is expected to spike in the next few years. Albeit a good marker for the green transition agenda, persistent grid constraints and limited digital customer solutions remain as pain points, creating both urgency and opportunity for energy providers to deliver smarter, more resilient, and customer-centric offerings.This means that businesses will not merely consume more electricity; they will call for more dependable, more predictable, clean electricity, delivered with new and better services front-lined both by the public and private sectors.Meeting the challenge of evolving energy needsThe Philippines has among the region's most expensive electricity costs, largely because the grid is powered by imported fossil fuels that exposes the companies to global price volatility and recurrent rate spikes. That cost pressure comes in addition to increasing climate risks and grid resilience challenges, especially in high-density metro hubs like Metro Manila, where outages and summer peak cooling demand affect productivity and margins. In this regard, additional businesses are in search of affordable decarbonization options that minimize costs, emissions, and increase resilience.Global utility trends project that suppliers must return to focusing on customer needs and framing sustainable solutions in terms of language that speaks to fundamental values and cost-effectiveness. Filipino consumers, for example, prioritize integrity, customization, and compassion throughout the service journey — expectations increasingly prioritized with energy partners.In the Philippines, the winning players that will secure and hold onto business customers will not be those who simply sell kilowatt‑hours. They will be the ones who provide guaranteed savings, operational flexibility, and quantifiable emissions reductions — all wrapped in a modern, customer‑centered experience. With facilitating policies, favorable economics, and an engaged innovation environment, energy providers have the opportunity to develop sophisticated, adaptive, and data‑replete solutions to address the diverse requirements of businesses. They will need to adapt and evolve in order to transition with credible, customer‑centric offerings.In the second part of this article, we will discuss the evolving role of energy providers as they seek to enhance their offerings and better serve business clients by focusing on customized solutions, digital innovation, and strategic partnerships that align with the growing demand for clean energy and operational flexibility.Smith C. Lim is the Energy Sector Leader and a Strategy and Transactions Partner, and Chip A. Maalihan is a Strategy and Transactions Associate Director, both of SGV & Co.This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinions expressed above are those of the authors and do not necessarily represent the views of SGV & Co.

02 February 2026

Ryan Gilbert K. Chua and Warren R. Bituin

Why boards must rethink risk and resilience

In brief:Boards face an increasingly interconnected risk environment requiring closer integration of governance, risk, and compliance functions.Technology, cybersecurity, sustainability and workforce changes must be aligned with clear business objectives and supported by measurable risk assessment.Effective enterprise resilience depends on strong governance culture, qualified decision-making, and open collaboration between boards and management.“Ultimately, the future of effective governance lies in the ability to adapt, innovate, and work synergistically across functions, ensuring that enterprises not only survive but thrive in a rapidly changing business landscape."Risk has become a constant presence in boardroom discussions. That was evident at the 2025 SGV Knowledge Institute and SGV Consulting forum held in November, titled “Harmony in Action: Navigating Enterprise Resilience through Governance, Risk, and Compliance Synergy.” The discussions reflected how governance, risk, and compliance (GRC), while viewed as separate functions, are also seen as interconnected mechanisms for enterprise resilience.Changing risk environmentBoards today are operating in a risk environment that is increasingly non-linear, accelerated, volatile and interconnected. The nature of risk has shifted since the pandemic, when companies and organizations focused mainly on reporting financial risks. Today, boards face multiple, overlapping crises rather than isolated incidents. These crises have implications across supply chains, energy prices, regulatory compliance and geopolitical exposure. As a result, risk, compliance, and internal audit functions are expected to manage several issues simultaneously, often with limited resources.During the session, a reference was made to a recent study by the EY Center for Board Matters, which identified five agenda items currently top of mind for boards in the Asia-Pacific region: geopolitical volatility and resilience; shaping tomorrow’s workforce; artificial intelligence, cyber security, and digital transformation; sustainability integration into business models; and rethinking the board of the future. The panelists said these themes also strongly resonate with Philippine boards.Geopolitical volatility was highlighted as a significant concern. Although the Philippines is generally described as a consumption-driven economy, companies operating locally are often deeply connected to global markets. Mr. Medel Nera, who is a Director of various Publicly Listed Entities and also either Chairman or a Member of various Audit Committees, cited the example of a Philippine manufacturing-exporting company that sources materials from nearly 60 countries and serves customers in 120 countries. Such companies are directly affected by developments in other parts of the world, including geopolitical tensions, sanctions, and trade disruptions. Boards, therefore, need to recognize geopolitical risk as material and prepare for its potential impact.Workforce-related risks were also discussed, where fewer professionals and more alternative work arrangements have made the workforce more selective. New generations of employees are more likely to ask for remote work and a better work-life balance. Practices that were effective in the past may no longer be suitable. Organizations need to rethink how they attract, retain, and manage talent as a resilience strategy.Technology, particularly artificial intelligence (AI) and big data, was featured prominently in panel. There is high interest in AI tools, but daily adoption in operations and production is still low. One reason cited was concern over potential job losses resulting from automation. There are also risks in cybersecurity, data protection and privacy, and technology misuse.The panelists emphasized that technology initiatives should be aligned with business objectives. Boards and management should first clarify organizational goals, such as revenue growth, brand strength, profitability, or operational efficiency. Then, determine which technology strategies support those goals. Security controls should be designed around these business-driven technology requirements, rather than implemented as isolated initiatives.Cybersecurity was described using an analogy: attackers tend to avoid difficult targets and focus on easier ones. Organizations need balanced security measures. Controls cannot be so restrictive or costly else they hinder operations, but at the same time, they must be strong enough to deter intrusion. The aim is to establish security measures appropriate to the organization’s risk exposure and operational needs.Responsible adoption of AI was also stressed. Panelists noted that employees have to use AI productively, while stopping misuse like plagiarism or security gaps. Clear policies on acceptable use and approved platforms were cited as necessary measures to manage these risks while maximizing potential benefits.From the public sector perspective, Solicitor General Darlene Berberabe shared that the Department of Information and Communications Technology has implemented reforms focused on digitalization. These include developing digital infrastructure, with a push to explore blockchain technology, and online portals for government procurement to promote transparency.Sustainability and ESG integrationSustainability was discussed as an integral component of enterprise resilience. Many companies are implementing sustainability programs in response to requirements set by global parent organizations. These initiatives contribute to environmental stewardship, corporate reputation and long-term economic viability.Executive Director and Chief Finance, Risk, and Sustainability Officer of Metro Pacific Investments Corporation (MPIC) and President and CEO of mWell Ms. Chaye Cabal-Revilla mentioned that, at MPIC, sustainability is embedded across operations. Performance indicators and incentives now include not only financial targets but also environmental, social, and governance (ESG) outcomes. Major investments are mapped against the United Nations Sustainable Development Goals. Responsibility for sustainability initiatives has expanded beyond a dedicated team to include finance, risk officers, and internal auditors, supporting a more integrated approach.The board of the futureThe future role of the board was another topic covered. Though board effectiveness needs improvement, urgent priorities like profitability, compliance, and operations often push long-term development aside. Some organizations have included younger board members and provided board-level training on sustainability, AI, and technology. According to the panelists, a mix of experiences creates balance and supports organizational resilience.Achieving synergized risk management remains a challenge. Collaboration among governance, risk, compliance and internal audit is widely supported but at times difficult to implement. Organizational culture plays a significant role. In some companies, compliance and internal audit are seen as obligations rather than value-adding functions. Sometimes, board directives are diluted as they pass through management layers, or communication between the board and management is limited.Ms. Cabal-Revilla noted that one way to enable GRC initiatives is to quantify risks. By assigning financial value to potential risks and losses, organizations can offer clearer business cases to senior management and boards. Tangible, data-driven proposals are more likely to gain approval and support.From Solicitor General Berberabe’s experience in the private sector, governance was described as essential to achieving long-term profitability. Organizations that view GRC as strategic assets, rather than regulatory requirements, are better positioned for sustained performance.In closing, all panelists stressed the importance of communication and collaboration between boards and management. Mr. Nera encouraged management not to be intimidated by board members and highlighted the value of upfront communication in areas for improvement. Clear roles, open dialogue and a strong tone from the top were identified as critical factors in building resilient organizations.Thriving in a rapidly changing business landscapeAs organizations navigate overlapping crises and shifting workforce dynamics, the integration of sustainability and technology into strategic planning becomes essential for long-term resilience. The emphasis on clear communication and collaboration between boards and management is also crucial for fostering a culture that views GRC as a strategic asset instead of just an obligation for compliance. By quantifying risks and aligning technology initiatives with business objectives, organizations can better prepare for any challenges ahead. Ultimately, the future of effective governance lies in the ability to adapt, innovate, and work synergistically across functions, ensuring that enterprises not only survive but thrive in a rapidly changing business landscape.Ryan Gilbert K. Chua is the Consulting Leader and Warren R. Bituin is the Technology Consulting Leader of SGV & Co.This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinions expressed above are those of the authors and do not necessarily represent the views of SGV & Co.