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PLDT's SGV resigns as auditor citing SEC independence impairment; Isla Lipana/PwC appointed
PHIPLDT Inc.
SyCip Gorres Velayo & Co. (SGV) resigned as PLDT Inc.'s independent registered public accounting firm on October 31, 2026, after determining it was not independent under US SEC and PCAOB rules. SGV withdrew its audit opinions for fiscal years ended December 31, 2024, and 2025 due to an inability to complete evaluation of hedge accounting errors and a material weakness in internal control over financial reporting identified as of December 31, 2025. PLDT appointed Isla Lipana & Co./PwC Philippines as auditor for PFRS statements effective November 2, 2026, while continuing the search for an IFRS auditor. The company states revisions are not expected to materially affect net income or cash flows. PLDT Inc. is a leading telecommunications provider in the Philippines.