BSP Drafts Rules Against the Easy Digital Banking Scheme
The Shortcut to Digital Banking Is Closing For several years, there has been a somewhat secretive shortcut in the Philippine banking sector. Instead of complying as a full digital bank, which requires at least ₱1 billion in capital, some FinTech companies took a faster, much more affordable approach: acquiring rural banks and placing digital platforms […]
Intercompany Agreements in the Philippines: Risk of Boilerplate Contracts
Nowadays, numerous companies are related to one another — transacting with each other every day, sharing in management costs, engaging in lending or financing activities, providing services, licensing intellectual property, and other means to help each other in their business operations. However, if such intercompany agreements in the Philippines were simply downloaded from whatever source […]
The New Role of Auditors in an AI-Driven Financial Environment
Artificial Intelligence (AI) is now becoming entrenched in business operations — from financial transactions to risk assessments, compliance, and reporting. Today, 90% of financial institutions use AI to detect fraud(2) in real time, and 93% of financial organizations believe AI will fundamentally transform how fraud detection is done(9). Yet despite this, U.S. consumers lost over […]
Excise Tax Suspension on Fuel in the Philippines Explained
A New Tool to Combat Rising Fuel Costs As previously discussed in our article regarding the conflict between the US, Israel, and Iran, the global prices of fuel indeed continue to fluctuate. Several businesses and most of the consumers are carrying the weight of the burden because of its domino effect on transportation, logistics, and […]
Security Will Define the Winners: Inside BSP’s Cybersecurity Push
A New Cybersecurity Proposed Mandate from the BSP With the many advancements in technology, cyberthreats are no longer considered distant risks. The reality is that therein exists an inherent exposure to imminent danger. The Bangko Sentral ng Pilipinas (BSP) has recently proposed a mandatory Cybersecurity Control Self-Assessment (CCSA) for financial institutions, which marks a major […]
How the US-Israel-Iran Conflict is Affecting the Global Trade, Energy, and Philippine Economy
Conflict in the Middle East Not Just Geopolitical — It’s Economic. In light of the recent news circling around the rising prices in the Philippine economy, it is important to understand the cause behind this and to acknowledge the true problem behind the ongoing “war” between the US, Israel, and Iran. What began as a […]
Climate Risk and Credit Stability in the Philippines
A Growing Financial Risk that Businesses Cannot Ignore Over the years, the Philippines has been known for its exposure to numerous natural disasters. Yet, a recent study from Fitch Ratings emphasized a more complex problem: climate-related risks are now becoming a related financial and credit concern for the country’s economy. According to Fitch Ratings, a […]
PFRS 18: New Accounting Standard for Philippine Financial Reporting
A Major Financial Reporting Shift Is Approaching in 2027 Financial reporting is about to go through an evolution — and it has been considered significant in recent years. With the issuance of the International Financial Reporting Standards (IFRS) 18 by the International Accounting Standards Board (IASB) in April 2024, its international adoption is set to […]
Expert Insights on Artificial Intelligence, FinTech, Forensics, and Corporate Governance
Last March 6, 2026, industry leaders, finance professionals, technologists, and governance experts from other regions gathered at the Golden Phoenix Hotel Manila for the forum “Artificial Intelligence, Forensics, FinTech, & Corporate Governance”. The event was partnered by Babylon2k and its trusted partner, UHY M.L. Aguirre & Co., CPAs, that brought together over 200 participants both […]
Digital Innovation That Includes Everyone: Insights from the Cotabato ICT Summit
from Babylon2k’s Founder & Senior Partner of UHY M.L. Aguirre & Co.,CPAs at the Cotabato 1st ICT Summit Michael L. Aguirre Establishing Your Digital Fortress Last March 3, 2026, leaders from the government, academe, non-government organizations, MSMEs, and the private sector gathered in Kabacan for the Cotabato 1st ICT Summit, wherein they had an overall […]
Expanding AI in 2026: What Asia-Pacific Enterprises Must Get Right
Way back, Artificial Intelligence (AI) was just a side experiment, but now? — it is one of the boardroom-level investment priorities. A recent study entitled “Lenovo CIO Playbook 2026: The Race for Enterprise AI”, with insights from the International Data Corporation (IDC), found that 96% of enterprises across the Asia Pacific Region plan to increase […]
Why Sustainability Reporting Matters Now: From ESG to Mandatory Disclosure
For a long time, Environmental, Social, & Governance (ESG) and Sustainability Reports were primarily regarded as branding instruments, serving to highlight and showcase various initiatives. In the present, that era is over. Sustainability Reporting is now entering the same regulatory mandate as Financial Reporting. With the establishment of the International Sustainability Standards Board (ISSB) under […]
Corporate Housekeeping in the Philippines: A Guide for Corporate Secretaries
With the recent major updates and monitoring from the Securities and Exchange Commission (SEC), such as increasing transparency standards and digital filing systems like eFAST and HARBOR — companies have no room for missed filings, outdated documents, and careless recordkeeping. Indeed, today’s stricter regulatory landscape makes corporate housekeeping not just an administrative duty; but rather, […]
How to Account for Inventories: A Practical Guide for Businesses
For many businesses and startups, Inventory is one of the crucial assets on the balance sheet — practically because it is the main derivation of sales. Yet, it is also one of the most misunderstood. Inventory is not just about “stock”; it is cash sitting on your shelves or in your stockrooms. If recorded inappropriately, […]
Philippine SEC Updates: What Businesses Should Know in Early 2026
SEC Just Changed the Compliance Landscape The Securities and Exchange Commission (SEC) has released major regulatory updates this first quarter of 2026, and notably — these are not just procedural changes but substantial in form. The changes are pertinent to: Statutory audit requirements Authorized Capital Stock (ACS) increases Beneficial Ownership Disclosures through HARBOR General Information […]
Global Tech Failures: Why Philippine Businesses Must Respond Immediately
Most of the corporate entities today — from banking systems, to logistics platforms, e-commerce stores, and other forms of business organizations, are exposed to the growing risk of global technology failures as they rely on major cloud providers. With the recent service failures in 2025, indeed, global technology providers are not immune to technical disruptions. […]
Impact of the 2026 Minimum Wage Hike on Philippine Businesses
Recent adjustments by the Regional Tripartite Wages and Productivity Board across the Philippines have affected millions of workers, increasing their daily earnings. Indeed, as these adjustments take effect, most companies look for a specific number: the new daily rate that they will have to implement. For employers, especially for Micro, Small, and Medium Enterprises — […]
How Long Can an Independent Director Serve? A Guide to the SEC’s New Rules
From Proposal to Policy In our prior article, we noted that the Securities and Exchange Commission is drafting a circular proposing much stricter term limits for independent directors in corporations. At the time, the objective was clear: Promote accountability & integrity Improve board independence Restore corporate oversight As of today, such a proposal is no […]
New International Standard Requires Climate-Related Disclosures from Public-Sector Entities
The International Public Sector Accounting Standards Board (IPSASB) recently released Sustainability Reporting Standards 1, known as Climate-related Disclosures, to provide governments and public sector entities with guidance on how to report and disclose climate-related risks and opportunities. What Is IPSASB Sustainability Reporting Standard 1 (SRS 1)? The IPSASB SRS 1 standard recognizes that climate change […]
The BIR Audit Reset Starts Now: Key Changes and Reforms
Tax Audits Are Back, But the Rules Have Changed In November 2025, the Bureau of Internal Revenue (BIR) suspended the issuance of Letters of Authority (LOA) due to concerns among taxpayers about their integrity, timeliness, and proper enforcement. After 2 months of suspension, the BIR has officially resumed tax audits nationwide, but this is not […]