The Philippine Olympic Committee and SGV & Co. recently inked a Memorandum of Agreement formally appointing the professional services firm as the external auditor of the country’s Olympic governing body and the various National Sports Associations under its wings.

Present during the signing at the Shang Grand Tower in Makati were SGV chairman and managing partner Cirilo P. Noel, deputy managing partner J. Carlitos Cruz and POC president Jose "Peping" Cojuangco Jr.

During the ceremony also attended by POC officials, heads of the different NSAs and SGV partners, Cojuangco spoke of his vision of governance that extends beyond the Olympic body and the NSAs.

"This is very timely since we’ll be able to audit every NSA books for free," said Cojuangco, who also hopes the MoA will help the NSAs achieve accountability and transparency in their operations.

For his part, Noel said: "The working relations between SGV and the POC are driven by a common desire to nurture the field of sports, an area that can showcase our people’s passion and skills."

He also reaffirmed SGV’s commitment to provide consistent quality service and to support the POC initiatives.