How this CEO is helping students in need achieve their ambitions

Giving back has always been top of mind for accounting firm Nexia TS' group chief executive and chief innovation officer Henry Tan.

As a scholarship recipient in his undergraduate years, he experienced first-hand the difference financial aid can make. Having additional support in school enabled him to focus on learning, without having to worry about affording extra educational resources and academic experiences.

Today, the 57-year-old is paying it forward by offering bond-free scholarships and bursaries to students in need.

"I believe in making a difference by contributing to the society, particularly the financially needy students to aid them in achieving their career aspirations in accountancy," he says.

Mr Henry Tan, who started Nexia TS in 1993 with a fellow partner and one staff member on the payroll, is no stranger to hardship. He recalls having to hold two jobs to bring home his share of income for the family. At the time, Nexia TS was still in its early days and had few clients.

Today, the accounting firm has grown into an independent member firm of the Nexia International network, with 250 staff based in Singapore, Shanghai and Myanmar.

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It is experiences like these that spur Mr Henry Tan to want to provide equal advancement opportunities to all. He believes that with the right support system and environment, anyone can thrive and achieve his or her goals.

Nexia TS' first scholarships were given out during the 2008-2009 financial crisis, to provide financial assistance to accountancy students of Nanyang Technological University, Singapore Management University and Singapore Institute of Management whose families were affected by the economic downturn.

"We will continue to help needy students in accountancy, especially in this difficult climate. I know how tough it is to try to excel when your basic needs are not met," said Mr Henry Tan in a press release in 2009.

Over the years, Nexia TS has awarded more than 25 scholarships to tertiary students across Singapore, including those in polytechnics. These scholarships not only offer financial aid, but also provide students with the opportunity to gain valuable exposure and hands-on work experience through internships with the firm. Besides scholarships, various study awards and book prizes were also given out to students at the tertiary level, to further drive their academic interests in accounting and finance.

Even when the economy was hit hard by the Covid-19 pandemic, Nexia TS' support for students' learning did not cease. In fact, the firm ramped up the number of scholarships by threefold so as to reach out to more beneficiaries during this difficult time. In addition, it renewed a five-year scholarship sponsorship agreement with the Singapore University of Social Sciences (SUSS) and Singapore Institute of Technology, as part of its commitment to support accountancy students' education journeys.

To Mr Henry Tan, scholarships not only serve as assistance to those in need, but also help to groom talent that is essential in ensuring the continued growth of the accountancy sector. Scholarship recipients under the Nexia TS' scholarship programme are offered opportunities to hone their skills as interns at the firm. Those who are outstanding may continue to develop their careers with the firm upon graduation.

For its efforts in giving back, Nexia TS is recognised as an Honouree at the Brands for Good 2021/2022 awards, under the Business for Good category.

Says Mr Tan Jia Jun, an SUSS student who received the Nexia TS Public Accounting Corporation Financial Scholarship Award 2019: "The scholarship has relieved my family's financial burdens and the internship has given me a great experience. In just 24 weeks of internship at Nexia TS, I went through two major engagements, allowing me to experience the full audit cycle. Overall, I am equipped with the mindset, adroitness and versatility to excel in the industry."

Even with a busy work schedule, Mr Henry Tan takes pride in mentoring the younger generation. As chairman of the Nanyang Business School Dean's Alumni Advisory Board, he is actively involved in various mentorship programmes and leadership and impact sessions organised by the school. He hopes his actions will create a ripple effect, inspiring the next generation to pass it on.

Besides grooming new talent for the industry, he is also an advocate for sustainability. In early 2019, before the pandemic struck, Nexia TS embarked on a journey to digitalise its operations, adopting virtual work tools such as NTSCollab and NTSign. These have not only improved efficiency and productivity of the work processes, but also reduced paper waste by more than 45 per cent in under a year.

Says Mr Henry Tan: "Today, a triple bottom line is no longer a eureka moment for companies. We must make it a norm to place as much focus on social and environmental concerns as we do on financial metrics."