PLDT taps PwC Philippines as external auditor as SGV resigns after 24 years

Telecom giant PLDT Inc. has officially appointed Isla Lipana & Co./PwC Philippine, a member firm of the PricewaterhouseCoopers (PwC) network, as its independent external auditor, replacing its long-time auditing partners SyCip Gorres Velayo & Co. (SGV & Co.), which resigned after 24 years.

In a disclosure to the Philippine Stock Exchange, PLDT announced the resignation of SGV & Co., a member firm of Ernst & Young Global Limited, on October 31, 2026.

SGV & Co. notified PLDT after determining it was no longer independent under the standards of the US Securities and Exchange Commission and the Public Company Accounting Oversight Board (PCAOB).

SGV had served as PLDT’s external auditor since 2002, issuing audit reports on the company’s financial statements—including its consolidated financial statements and internal control evaluations—up to the fiscal year ended December 31,2025.

PLDT, meanwhile, said the transition to PwC Philippines marks a return to a historic partnership.

Under its former name, Joaquin Cunanan & Co., the telco said the firm previously served as the principal external auditor for the PLDT Group from financial years 1999 to 2001.

Founded on June 22, 1922, as White, Page & Co., PwC Philippines is the country’s oldest operating professional services firm, adopting the name Isla Lipana & Co. in 2005.

Its affiliation with PriceWaterhouse dates back to 1958. —AOL, GMA News