The Idea

Heavily involved in a wide variety of clubs and societies at the University of Waterloo, Accounting and Financial Management student Ian Weng observed certain inefficiencies and ineffectiveness that pervaded in various financial departments of student clubs and societies. Hence, in April of 2009, he envisioned the conception and implementation of an organization at the University of Waterloo, whose primary objective would be to assist student clubs and societies of the school with various financial functions, in offering guidance that would result in more accurate financial reporting, more efficient spending and more comprehensive budgeting approaches.

Also realizing that a great amount of financial data flowed among clubs and committees, he believed that the unification of the presentation of financial data within the school as a result of ACE would greatly increase the efficiency of various funding boards and committees. Furthermore, with the current global shift to a greener society, Ian also envisioned the facilitation of the reduction of product and utility usage in clubs and societies through ACE. This would not only decrease the ecological footprints of these clubs and societies, but also reduce their respective peripheral expenses, resulting in more residual funds for core operations.

Today

Thus, in May of 2009, an implementation team was created to establish the foundations of ACE, and in June of 2009, the first Executive Board was selected to make ACE operational. Together, this team is taking ACE’s first steps in acquiring and educating associates, pursuing sponsorship, and accepting clients to make Ian’s vision come to life.

ACE is currently governed by the Accounting & Finance Student Association (AFSA).