An Accountancy Career Becomes More Attainable for Disadvantaged Youths, with ISCA Cares Bursary

20 September, 2016–Due to his family’s financial circumstances, Huang Po Hsiang, 24, did not attend kindergarten. In secondary school, he was compelled to leave his co-curricular activity, swimming, as he could not afford the fees involved.   Eighteen-year-old Angeline Phung’s father passed away from cancer when she was preparing for her O levels, leaving her mother to support the family as a tailor.  Today, both Angeline and Po Hsiang are accountancy students at local polytechnics and beneficiaries of the ISCA Cares Education Programme. The programme awards bursaries to disadvantaged youth whose family’s per capita income falls below $625.

Together with 13 other students from underprivileged families, Po Hsiang and Angeline are among the first batch of beneficiaries to receive their bursaries at the ISCA Cares Education Programme’s inaugural award ceremony on September 20. The ISCA Cares bursary will go towards subsidising their education and living expenses.  In its first year, the ISCA Cares Education Programme disbursed over $55,000 to 15 beneficiaries. ISCA Cares was made possible with the firm support of the accountancy profession. In particular, the two largest donors are BDO LLP and RSM Chio Lim Singapore. Together with ISCA's seed contribution, their donation created the first pool of funds for the ISCA Cares Education programme. 

A programme under the ISCA Cares charity, the ISCA Cares Education Programme aims to provide disadvantaged youths with access to an accountancy education.  ISCA Cares was established by the national accountancy body, Institute of Singapore Chartered Accountants (ISCA), last year. ISCA Cares aims to build a compassionate and caring accountancy community that actively contributes towards the betterment of society.

ISCA Cares Chairman, Mrs Lim Hwee Hua, said, “Many of our beneficiaries are working part-time to pay their school and living expenses, and some also have to contribute to their family’s finances. With the ISCA Cares bursary, these youths can devote more time and energy to their accountancy studies.”

Mr Lee Fook Chiew, Chief Executive Officer of ISCA, said, “Beyond financial assistance, the ISCA Cares Education Programme also provides beneficiaries with internship and mentorship opportunities from corporate and individual donors. This will enable beneficiaries to acquire real-life experiences of a professional accountant and at the same time, gain career and personal development guidance from a mentor.It also provides an avenue for the profession to give back to society by coming on board as donors.”

The ISCA Cares Education Programme aims to provide disadvantaged Singapore youths with access to a quality education in accountancy through financial and non-financial assistance. Donors’ contributions will go towards subsidising the tuition fees and basic living expenses of deserving youths who have been admitted to, or are pursuing an accountancy education in local polytechnics and universities.

To learn more about some of the beneficiaries, refer to the Appendix.

For information on ISCA Cares, visit http://isca.org.sg/isca-cares.

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 For media queries, please contact:

 Eileen Khoo, Communications Executive

HP: 9221 9820

Email: eileen.khoo@isca.org.sg

Betsy Tan, Senior Communications Manager

HP: 9641 6920  

Email: betsy.tan@isca.org.sg

About the Institute of Singapore Chartered Accountants

The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore. ISCA’s vision is to be a globally recognised professional accountancy body, bringing value to our members, the profession and wider community. There are over 30,000 ISCA members making their stride in businesses across industries in Singapore and around the world.

Established in 1963, ISCA is an advocate of the interests of the profession. Possessing a Global Mindset, with Asian Insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards Singapore’s transformation into a global accountancy hub.

ISCA is the Administrator of the Singapore QP and the Designated Entity to confer the Chartered Accountant of Singapore - CA (Singapore) - designation.

ISCA is an Associate of Chartered Accountants Worldwide – supporting, developing and promoting over 325,000 Chartered Accountants in more than 180 countries around the world.

For more information, visit www.isca.org.sg.

About ISCA Cares

ISCA Cares is a charity set up in 2015 by the Institute of Singapore Chartered Accountants (ISCA) as part of Singapore's Jubilee celebration of her 50th anniversary of independence.

ISCA Cares envisions a compassionate and caring accountancy community that actively contributes towards the betterment of society. Its mission is to encourage open-heartedness by promoting strong social conscience and a spirit of inclusivity in the accountancy community.

ISCA Cares supports two charitable causes:

Education: To provide disadvantaged Singapore youths with academic potential access to quality accountancy education through financial and non-financial assistance.

Community: To harness the knowledge, skills and expertise of the accountancy community, for community development projects through collaborative programmes with partners.

Appendix: Selected Beneficiary Profiles

About Angeline Phung Jing Wei, 18

Angeline Phung is a second-year accountancy student at Singapore Polytechnic.

Angeline’s father passed away in 2014 due to gastric cancer. Since then, her mother has been the family’s main breadwinner. Her 67-year old mother has to pay for the mortgage every month, despite not earning much as a tailor. To supplement the family income, she worked part-time during weekends in her first year of studies. In her second year, she gave it up as she had to juggle her studies with her commitment as a committee member of her CCA. This creates much financial stress on Angeline and her family as she is currently responsible for her school fees and living expenses.

About Huang Po Hsiang, 24

Huang Po Hsiang is currently a second-year accountancy student at Ngee Ann Polytechnic. As a child from a low-income family, Po Hsiang often had to forgo opportunities due to financial constraints. He did not attend kindergarten and therefore attended Primary School without knowing his ABCs. In secondary school, he left his CCA, swimming, as he could not afford the fees involved. He also missed out on various non-compulsory activities such as adventure camps, overseas immersion trips, and other activities which were non-subsidised. Po Hsiang began working part-time since he was 15 to lighten his family’s financial burden. Despite achieving a perfect GPA score, he was not shortlisted for a scholarship interview due to insufficient CCA points as he had to juggle work and school. Currently, not only is he responsible for his personal living expenses, he also has to contribute to his family’s finances.

About Nursyafiqah Bte Azammudin, 17

Nursyafiqah Bte Azammudin is a full-time accountancy student at Singapore Polytechnic.

She comes from a single-income family, with her father being the family’s sole breadwinner earning his keep as a laboratory technician. With Nursyafiqah and her sister still in school, the family’s finances are stretched. But with the ISCA Cares bursary, Nursyafiqah is able to concentrate on her studies full time and be financially self-sufficient.

About Yeo Shu Wen, 19

Shu Wen comes from a single-parent, low-income family. Her mother’s salary is barely enough for the family’s daily living expenses, let alone funds for her university education. Shu Wen also has two elder brothers who are currently enrolled in university. Her mother’s CPF is also insufficient for paying her tuition fees. Shu Wen and her siblings currently take on part-time jobs to supplement the family income. However, to be able to earn the full sum of her tuition fees, Shu Wen estimates that she would need to spend at least 14 days each month working part-time, which would affect her studies.