Over the last 20 years, like Singapore, we have experienced many challenges that have put our mettle to the test. I remember the initial struggles of the founding partners when we kickstarted our journey. Several of us with young families went with no pay for a year. All of us were determined to make this exciting venture work – and create a firm which we could proudly call our own.
There was the unexpected SARS outbreak, but that didn’t stop us from putting on our N95 masks and travelling to China to look for business at a time when many accountancy firms paused travel to the country. This tenacity paid off. We landed our first IPO deal.
Then came other speed bumps, including the Asian financial crisis in 2008 and most recently, the COVID-19 pandemic. We have shown resilience in the face of adversity, by emerging stronger after each crisis. We also withstood regulatory scrutiny throughout the years when many others did not. Our little successes over the past 20 years have won the attention of regulators, our profession and the wider industry.
The accounting profession has been evolving for decades, driven by disruptions, the acceleration of digitalisation and the use of artificial intelligence. To keep thriving, the future of accounting means embracing change – by moving away from compliance-driven work to being a well-rounded trusted business advisor to clients.
Talent crunch has been a key challenge in the last few years, but we are grateful to be growing steadily; the Singapore office now has a staff strength of over 200 and still growing.
We have also been widening our suite of integrated offerings to cater to the broader needs of our clients. Today, beyond audit, tax, risk and outsourcing, we are proud to have built our niche expertise in digital advisory, corporate finance and fund services. Most recently, we launched our cybersecurity services.
This means being authentic, dependable and consistently acting in the best interests of our clients and stakeholders in an ethical way, while ensuring our integrity and professionalism.
We have built 20 years of Trust and we will continue to chart this extraordinary journey.
I would also like to express our gratitude to Ngee Ann Polytechnic for partnering us to nurture and groom the next generation of youth in the accountancy and finance sector, through the inaugural Crowe Scholarship. My heartiest congratulations to the two deserving scholars and their families.
To our clients, on behalf of our firm, I would like to express our heartfelt gratitude for your confidence in us, as we renew our commitment to excellence, anchored in trust. We are grateful for the opportunities that have allowed us to help your business make smart decisions, and we look forward to continue working closely together, for many more years to come.
To my fellow colleagues, the partners and I look forward to many more years of camaraderie with you. Let’s set our sights on the next frontier to build the Crowe Singapore that we imagine!
Founded as TKH & Co. and secured our first SGX-listed audit.
Corporate Services was launched.
Change of name to First Trust Partnership and First Trust International was launched. Launched Tax, Risk, Fund Administration and Outsourcing Services.
First Trust Partnership admitted as a member of Horwath International.
Ranked among the Top 5 Singapore IPO Reporting Accountants by the Business Times.
Launched Transfer Pricing Services.
Ranked among the Top 10 accounting firms in Singapore by the Singapore Business Review. That same year, the firm celebrated its 10th Anniversary.
Launched Sustainability Reporting and Fraud Investigation.
Winner of the Best Practice Award, Large Practice Category, presented by the Institute of Singapore Chartered Accountants (ISCA).
Our Financial Services Team and Valuation Team were formed.
Winner of the Growth Award, Open Category, presented by ISCA.
Change of name to Crowe, in line with our network's brand refresh to Crowe Global.
Launched Variable Capital Company (VCC) Solutions. Also, we moved to our new, larger office in Raffles Place, Singapore.
Launched Cybersecurity services and among the first in Singapore to receive a penetration testing license by the Singapore government. Crowe Singapore was also recognised as a Notable Firm for Tax Services by the International Tax Review, 2022/2023.
Crowe Singapore has awarded two Ngee Ann Polytechnic students with its inaugural Crowe Scholarship, which aims to motivate outstanding students to make an impact in the society and the fields of business and accountancy.
Through the scholarship programme, Crowe Singapore hopes to nurture creative, reflective global citizens and talents who are keen to lead the future of accounting in the fast-evolving digital landscape. Apart from promoting academic excellence, the three-year scholarship programme offers career and holistic development opportunities through internships with Crowe Singapore and mentorship by Crowe professionals.
Two Year 2 Ngee Ann Polytechnic students from the School of Business and Accountancy – Jonathan Chaw Junxi and Kelly Ker Sze Yee were awarded the scholarships on Friday, 11, November 2022, at Crowe Singapore’s 20th anniversary celebrations dinner.
“The accounting profession has been evolving for decades, driven by disruptions, the acceleration of digitalisation and the use of artificial intelligence. To keep thriving, the future of accounting means embracing change – by moving away from simply compliance-driven work to being a well-rounded trusted business advisor to clients,” Tan Kuang Hui, Chief Executive and Managing Partner of Crowe Singapore, said. “We are pleased to launch the Crowe Scholarship, in partnership with Ngee Ann Polytechnic, to support young talents who are keen to take up this challenge in the accountancy and finance industry and serve with the highest level of integrity. We congratulate the two deserving students, Jonathan and Kelly, who have not only excelled academically but have impressed us with their meaningful contributions to the community."
Invests in high-calibre students who excel in the fields of business & accountancy, and have meaningfully contributed to their communities.
It is aimed at motivating these outstanding students and nurturing them to be creative, reflective global citizens and future leaders devoted to making a meaningful impact in business and society.
Selected scholars can look forward to exciting career and holistic development opportunities through internships with Crowe Singapore and mentorship by our professionals.
Cares for students from low-income families through financial assistance and mentorship opportunities.
The grant is a top-up to the government bursary (for Singapore citizens) and will allow for full coverage of the annual tuition fees as well as supplement other study-related expenses.
Beyond financial aid, the student aid grant recipients are encouraged to engage in mentorship opportunities offered by Crowe Singapore.
Such engagement includes conversations to broaden the students’ worldviews and assist them to make more informed career choices.
Ngee Ann Polytechnic, William Lim, Director for the School of Business & Accountancy, said, “As a testament to Crowe Singapore’s business acumen and foresightedness, we are honoured that Ngee Ann Polytechnic has been selected to be a key partner in grooming talents for tomorrow. These scholars will be provided with meaningful internship and mentorship opportunities to develop their skills at Crowe Singapore, to guide their career development.”
The two newly minted Crowe scholars hope to make an impact in the industry. Jonathan commented, “I am very honoured to receive this scholarship and thankful to have the opportunity to learn and work with leading accounting professionals. I hope to gain greater insights about the industry, sharpen my people skills and expand my professional network. Crowe’s core values are very much aligned with my own. After my internship with Crowe, I hope to share my newly learned skills and industry knowledge with my peers so they can make a positive impact on their careers as well.
Kelly added, “I am extremely grateful to be a recipient of the Crowe Scholarship which will support my professional development in several ways. With this scholarship, I hope to further enhance my interpersonal skills and accounting knowledge, so I can make key contributions to the accounting industry in the future."
A bursary programme, Crowe Student Aid Grant, has also been launched to support Ngee Ann Polytechnic students from low-income families through financial assistance and mentorship opportunities. The grant is a top-up to the government bursary (for Singapore citizens) that will allow for full coverage of the annual tuition fees and supplement other study-related expenses. Beyond financial aid, the student aid grant recipients are encouraged to engage in mentorship opportunities offered by Crowe. Such engagement includes conversations to broaden the students’ worldviews and assist them to make more informed career choices.
Crowe Singapore launched its anniversary celebrations together as a firm on 2 September 2022, with a special ceremony in its office, followed by a lunch-in. This was proceeded by our first firm meeting in close to three years, presenting all with the opportunity to learn more about the growth and exciting developments of the firm, before rounding off the evening with conversations and laughter at an establishment close to our office.
A special networking event as part of Crowe Singapore’s 20th Anniversary Celebrations were held on the evening of Friday, 11 November 2022. The event was graced by the CEO of Crowe Global, David Mellor, and our guests included delegates from our regional Crowe network offices, clients, and friends of the firm.
It was a truly memorable celebration of two decades in service, and we are honoured and grateful for the opportunity to be able to share in this joyous, historical occasion with all our guests. A big thank you also to David Mellor and our colleagues from our regional Crowe member firms for celebrating 20 years of trust with us. We appreciate them for being so generous with their time to travel to Singapore amidst their busy schedules. It was a memorable evening filled with joy and laughter and a truly delightful opportunity to re-connect.