INTHEBLACK February 2022 - Magazine - Page 27
STORY ADAM COURTENAY
SOMETHING OLD,
SOMETHING NEW
MAX LOH FCPA LOOKS BACK ON THE SHIFTING TIDES THAT HAVE
SHAPED THE ACCOUNTING AND FINANCE PROFESSION AND
EMPHASISES THE VALUE OF EMBRACING THE NEW WHILE
HOLDING TRUE TO TIME-TESTED PRINCIPLES AND LESSONS.
M
ax Loh FCPA, EY Singapore and Brunei
managing partner, has had a career that spans the
old and the new. The new does not faze him –
indeed he thrives on it. No matter how complex
and sophisticated the work gets, his attitude towards it
remains the same.
Work as a senior accountant in Singapore is about
dealing with the technological and transformational
shifts that have become so much a part of life in SouthEast Asia. It is not unusual for Loh to be engaging with
and auditing digital, gaming or crypto companies that
raise capital across multiple platforms.
Cross-border work is also now more common,
and Loh says this makes the job both more complex
and more interesting. “We now deploy more
multidimensional skill sets, including the use of
specialists in valuations, tax, financial derivatives and
technology,” Loh says.
“COVID-19 really has had a big impact on the way
we work, engage and communicate, as well as brought up
more issues to consider, such as the impact on industries
and business models, as well as the quality and
valuation of assets,” he says.
STRONG FOUNDATIONS
Loh grew up in a middle-income household in
Singapore. As a student, he excelled in maths and
sciences, but economics always interested him the most.
When he was offered a place to study either law or
accountancy at the National University of Singapore,
he opted for the latter.
The CPA qualification, which Loh gained in the late
1980s, helped him to see that the profession is vital in
helping stakeholders solve pressing challenges and take
advantage of business opportunities.
By then, Loh was in his first job, at global accountancy
firm Arthur Andersen, which at the time was the
smallest of the “big eight” accountancy firms in
Singapore.
This smallness suited Loh to a tee.
It meant everyone had to take on many different tasks,
and there was lots of camaraderie.
intheblack.com February 2022 27