Ernst & Young launches Student Excellence Awards for Omani students

Muscat, 06 October 2012: Ernst & Young announced that it has instituted Student Excellence Awards to honor outstanding university and college Omani students in the accounting and finance fields within the Sultanate of Oman.

The Award aims to give students from top tier higher learning institutions in Oman a competitive edge, allowing them an added advantage in their field as a result of outstanding work and academic achievements attained throughout their course of study.

Commenting on the initiative, Sridhar Sridharan, Office Managing Partner, Ernst & Young Oman, said: “We believe that education is the best investment one can make, and we are committed to contributing to the knowledge and qualifications of the Omani community. Education is a valuable asset which is why we have created the Student Excellence Award in order to acknowledge and encourage deserving Omani students.”

The universities selected to nominate outstanding students are all institutions of higher education offering full-time accounting and finance degrees with at least 50 students in each graduating class. The top 5 selected universities/colleges identified for the 2012 awards are: Sultan Qaboos University; Higher Colleges of Technology; College of Banking and Financial Studies; Majan College, and The Modern College for Business & Science. In 2013, students from other institutions within the capital area will also be included in the competition. Ernst & Young has plans to include other disciplines such as business management and technology and develop the concept into a national event in due course.

The Dean of each participating institution has provided Ernst & Young with five nominees along with their grades.  Nominations have been made based on academic achievements in the accounting and finance fields and the student’s overall performance. The 25 nominees will be invited to take part in a challenging and demanding evaluation process specifically designed by  Ernst & Young for this purpose. These will include tests in Accounting and Finance, preparing a brief project outline on a business idea chosen from a variety of topics,  making a presentation on the business plan to a panel and attending personal interviews The Omani students will be evaluated on their academic performance, analytical skills, subject matter expertise, leadership qualities, communication and presentation skills.

The top three outstanding students will receive cash rewards of RO 2500, RO 1500 and RO 1000, respectively, as well as an option to join Ernst & Young for a three-month post qualification experience across all service lines at Ernst & Young in Muscat. During this period, the students will be paid  a stipend of approximately RO2 500. The top five finalists will each receive an Apple iPad, and all 25 nominees will receive a certificate of participation as well as nominal participatory gifts.

Ahmed Al-Esry, Tax Partner, Ernst & Young Oman said: “Ernst & Young, has been serving Oman for over 40 years and as a part of our Corporate Social Responsibility to this great nation, we wish to continue to contribute in the fields of education, training and development of Omani nationals. Ernst & Young wishes to act along with the Government as well as the corporate sector to ensure that the accounting and finance functions are Omanised with competent and qualified Omani nationals. The introduction of the award is, therefore, a natural extension of our philosophy of Quality in Everything We Do.” 

The award will be a pioneering initiative in Oman as it brings together students from different backgrounds and institutions under a common platform and a uniform evaluation process. The introduction of the award is expected to motivate and inspire Omani students in finance and accounting fields to excel.

“Oman has been encouraging its youth to join the local job market through human resource development and investment within the Sultanate. We look forward to seeing the Omani youth achieve higher standards of excellence in the Accounting and Finance fields, through public motivation and job placement opportunities beneficial to both the individual and the collective community,” concluded Sridhar.