INTHEBLACK December - January 2022 - Magazine - Page 26
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STRATEGIC CAREER MOVES
26
DEC 2022
JAN 2023
INTHEBLACK CAREER, ELEVATED SPECIAL EDITION
from an app. That information is not
paper-based any more. It is in the
cloud, in a database somewhere.”
This means that such data, like Jui’s
career, is borderless. It can travel and be
accessed from anywhere. It is no longer
restricted by national rules and shaped by
national frameworks, but instead is part of
a new global accounting order. This is why
auditors need to change their mindset.
“Accounting has been such a traditional,
conservative type of profession for such
a long time,” Jui says. “An accountant has
traditionally gone through an apprentice
type of process, spending 10 to 15 years
in a firm to become a partner.
“But people now, particularly the
younger generations, don’t have the
patience to be sitting for five or 10 years
in a desk job. Now, people are more
innovative. They want to be creative.
They want a work–life balance and
they want life experience.”
The new world of audit – where
auditors must learn about and adjust to
different practices, laws, regulations and
standards across numerous jurisdictions
– is one that offers such experience.
Jui says, at present, 130 of
200‑plus jurisdictions are using the
International Standards on Auditing,
and 70-plus jurisdictions, mostly
developing countries, are not.
“But the largest economies in the
world, and the majority of countries,
are using international standards. If
we’re playing in a global economy, we all
should be applying the same standards.
“Audit as a profession is about
protecting the public, so we will
always need public trust. To achieve
that in a global environment, we need
people speaking the same language.
“I think of it the same way I think
of photography. When you take a
picture, it seems very transparent, and
it seems as if it represents reality. But
you can take pictures from different
angles, making things look different.
“A different perception, shadow and
highlights might distort the reality of what
we’re looking at. Financial information
is no different. The future of audit is
about ensuring all photographers shoot
the same way, through the same lens,
producing clear and consistent realities.”