ICAEW has named former KPMG partner Carlson Tong as winner of its Outstanding Achievement Award 2022. Subhash Vithaldas Thakrar, who founded the Asian Business Association, received the ICAEW Outstanding Achievement Award for 2021, after it was delayed by a year due to the pandemic.

The award is given to an individual ICAEW member who has served the community in the broadest sense. ICAEW announced the winners at its annual dinner at Chartered Accountants’ Hall in London on 22 March.

Judges presented Tong with the award for his achievements and contributions to business, the accounting profession, Asia-Pacific financial markets and the community in Hong Kong.

Tong was born in Hong Kong and spent 32 years at KPMG after qualifying as a chartered accountant in 1979. He became China Chairman of the Big Four firm in 2007 and Asia-Pacific Chairman in 2009.

Following his retirement from KPMG in 2011, the Hong Kong Securities and Futures Commission (SFC) appointed him to its board and a year later he became the chairman. He retired from the SFC in 2018. Tong was awarded the Golden Bauhinia Star – the highest Bauhinia star rank in Hong Kong’s honours’ system – and was also appointed a justice of the peace by the Hong Kong government.

Tong, who is also chairman of the University Grants Committee and a member of the Hong Kong Human Resources Planning Commission and ICAEW’s Greater China Advisory Group, said: “It was a surprise and an honour to be selected for this prestigious award. Being a chartered accountant for the past 42 years has helped me to be analytical and insightful in dealing with problems on a daily basis, and it’s these skills that have led me to where I am today.”

Thakrar, meanwhile, was recognised for his contributions to business, including supporting and championing London’s Asian business community, UK business overseas and his charitable activities.

In 1985,Thakrar became the first Asian partner at Blackstone Franks LLP. He was appointed as a Commissioner by the UK government in 2019, advising the Secretary of State for International Development. 

Thakrar said: “With this recognition, I hope I’ll be able to make my mark within and outside the profession, so that I can give back to society. My qualification has given me a huge platform to venture out into many fields in addition to accounting, ranging from business and the voluntary sector.”

• Find out about previous Outstanding Achievement Award winners dating back to 1980, selection criteria and information on how to nominate a recipient.