FEU and NRMF receive accountancy endowment fund

MANILA, Philippines - Far Eastern University’s Institute of Accounts, Business and Finance (FEU-IABF) and the Nicanor Reyes Memorial Foundation (NRMF) were recently named beneficiaries of the Dr. Wilfrido C. Tecson endowment grant, named after one of FEU’s prominent accounting alumni. Tecson’s wife, Nelly U. Tecson, presented the endowment to the university during a turnover ceremony at FEU-Makati last April 5.

As part of the endowment terms, the NRMF received P2 million to complement the development of the university’s flagship accountancy program. One million pesos will be used to establish a professorial chair in accountancy, which aims to foster research and further training for faculty. The remaining one million will be used to create a scholarship fund for accounting students.

“If there was another love in his life, it was FEU,” shared Mrs. Tecson during her speech. “His idol was FEU’s founder, Dr. Nicanor Reyes; he has always been very active in promoting the school.”

Apart from being an FEU alumnus, Dr. Wilfrido C. Tecson was also formerly the treasurer of the NRMF, an independent trustee of FEU and chairman emeritus of FEU-IABF and the FEU Alumni Foundation.

The donation comes as FEU-IABF, under the leadership of its current dean, Dr. Celito C. Macachor, and program head of accountancy, Jennifer C. Buen, is embarking on changes in its accountancy program with the goal of making it a center for excellence.

FEU-IABF offers Bachelor of Science degrees with majors related to business and accountancy. The Philippine Association of Colleges and Universities Commission on Accreditation (PACUCOA) has awarded its accountancy program with Level III reaccredited status.