Ernst & Young donates S$500,000 to President's Challenge and Community Chest

The oldest professional services firm in Singapore celebrated 121st year anniversary on 29 June 2010.

Firm marks the occasion held at Capella Hotel, Singapore, with the launch of commemorative book and personal donations by its Partners to the President’s Challenge and Community Chest totaling S$500,000.

The President of the Republic of Singapore, His Excellency Mr S R Nathan attended the occasion as Guest-of honor, together with clients, members of the business community, and retired and current Partners of the firm.

Mr Ong Yew Huat, Executive Chairman, Ernst & Young LLP said, “As the oldest accounting firm in Singapore, we are proud to still be going strong. We served the trading community in colonial Singapore as well as some of the earliest local companies which have now become the blue chips of our economy. Many of these companies continue to be our clients and we cherish such long-term relationships.”

Oldest Big 4 professional services firm is today part of an integrated global organisation. In 1889, Ernst & Young had begun as a one-man accounting firm called Derrick & Co. Today, it has over 2,000 people in Singapore, who are part of the larger global organisation of 144,000 people around the world.

Since 2008, Ernst & Young had integrated its country practices in this region to form a single operating Far East Area, alongside other Areas namely Oceania, Americas, EMEIA (Europe, Middle East, India and Africa), and Japan. On 1 July 2010, Ernst & Young combined its Far East and Oceania Areas to create an integrated Asia-Pacific Area, which Singapore will be a part of.

“We have begun our integration process a few years back, and are convinced of the benefits of doing so. This is part of our global strategy to stay ahead, and ensure that we continue to maintain a unique and market-leading position in our profession,” Mr Steven Phan, Managing Partner, Singapore and Asean, Ernst & Young LLP comments."

The commemorative book launched at the gala entitled “Ernst & Young: An account of 120 years” was researched and authored by Lee Geok Boi and published by Landmark Books.

The presentation of donation checks to the President’s Challenge and Community Chest was witnessed by His Excellency President S R Nathan.

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