PLDT appoints PwC Philippines after SGV quits as auditor
SGV ended its 24-year tenure after determining that it no longer met US regulatory standards for auditor independence.
PLDT Inc. has named Isla Lipana & Co./PwC Philippines as its independent external auditor following the resignation of SyCip Gorres Velayo & Co. (SGV & Co.) on October 31, 2026, according to the telecommunications company’s Philippine Stock Exchange disclosure.
SGV informed PLDT that it had determined it no longer qualified as independent under standards set by two US bodies: the Securities and Exchange Commission and the Public Company Accounting Oversight Board (PCAOB). SGV belongs to the Ernst & Young Global Limited network.
The outgoing firm began auditing PLDT in 2002. Its work covered reports on financial statements, including consolidated accounts and internal control evaluations, through the financial year ending December 31, 2025.
PLDT said the appointment renews a previous relationship with PwC Philippines. The firm, then known as Joaquin Cunanan & Co., was the PLDT Group’s principal external auditor for the 1999–2001 financial years. It adopted the Isla Lipana & Co. name in 2005.
