Accounting, The New Glamour Career

by Anthea De Lima

Forget that image of calculator-totting nerds. Accountants are in great demand and high-flying. Anthea De Lima has the story.

The increasing complexities of globalisation have seen a growing need for accounting professionals with the right technical competencies and skills. These professionals have their pick of working anywhere in the world. Indeed, the profession is now viewed as glamorous and many highflying corporate leaders can vouch that their accounting backgrounds helped them up the corporate ladder.

To keep abreast of the demands of the industry, accounting professionals must continually develop. Learning doesn’t stop with the passing of professional examinations.

Rauf Rashid Assurance Leader, Malaysia

Rauf Rashid, Assurance Leader, Malaysia at Ernst & Young (EY), a Big Four multi-disciplinary professional services firm, says the blurring of international borders and increased mobility of resources in the form of funds and human capital has increased the demand for accounting professionals.

“The future is as good as it has ever been, if not better, for accounting professionals. Professional accountants are multi-talented and all-rounded individuals with technical competencies in areas such as financial reporting, economics, finance, IT and management. Globalisation and the emergence of new markets, for example China, have translated into a greater demand for such ”he explains.

PROFESSIONALS OF DISTINCTION

Lee Soo Fern, EY’s Executive Director, People Team says accounting professionals should be committed to continuous career development.

“That is the key. This is an era where human capital is one of the most important assets in any organisation. Other than the basic skills, among them analytical skills, ethics and professional scepticism, accounting professionals must continue to improve themselves in such areas as communication, IT, creativity in thought and application, adaptability, leadership skills and talent management.

“To keep abreast of the demands of the industry, accounting professionals must continually develop.

Learning doesn’t stop with the passing of professional examinations. Keeping up-to-date with the ever-expanding global economy and fastchanging capital market is is part and parcel of remaining relevant.”

Like any other organisation, EY is interested in hiring the cream of the crop of fresh graduates. It, however, is also committed to giving its employees the opportunity to achieve their full potential. “Right from the start, we encourage our people to define and achieve their aspirations.

We support their professional development through effective coaching, structured and enriching formal and informal training, rewarding challenges and diverse experiences. Throughout their careers with us, they will have access to a wealth of opportunities, including the option to work in different service lines, teams or countries. We do this through a unique global career development framework called EYU” .

CAREER CHOICES APLENTY

Rauf says a career at EY is not confined to assurance (auditing). ‘’While audit is our biggest service line (1,400 of 2,300 staff in Malaysia work in this discipline), we are a multi-disciplinary professional services firm and opportunities exist in assurance, advisory, tax and transactions.

“Our employees are highly in demand both at home and overseas. The strong training and exposure gained at EY puts them in good stead to take on any role – not just those confined to accounting or auditing. Many eventually end up at the pinnacle of the business world,’’ he adds. While auditing remains a key part of EY’s business, other growth areas include advisory services. “There’s great scope for growth, from business advisory and management consultancy to IT advisory services,” Rauf says.

BIG FOUR MATERIAL

EY wants employees with good degrees from reputable universities. Professional qualifications, such as an ACCA certification, are also acceptable. “We do not confine our recruits to accounting or business graduates. We welcome applicants from other disciplines such as Economics, Finance, Computer Science, Information or Business Systems, Actuarial Studies, Management, Engineering and Law if they have the desire to develop or kick-start their career in a professional services firm,” says Soo Fern.

“Besides consistently good academic achievements, we also look for people with a good attitude who are able to work in teams as a member or leader. Our future employees must be honest and have integrity. They must also possess initiative, an inquisitive mind and a confident and positive personality, as well as good English proficiency.”

While the firm does not have a management trainee programme, the global EYU framework sets learning maps, experience maps and a performance management and development programme to tie it all together through effective coaching and counselling. “This is

applicable not just for fresh graduates, but all levels of staff, including the partners,” Rauf says. GETTING AHEAD AT EY Career progression at EY is based on merit, Soo Fern emphasises. “A performance review is carried out yearly. Unless work performance is an issue, we normally promote our employees every year. Our people generally become assistant managers after four years, which means they could be as young as 24 or 25! At this age, they are already starting to manage clients, engagements and teams.”

Because EY’s philosophy includes continued area-tisation and working seamlessly across borders, employees have the opportunity to experience work cultures abroad.

“Thinking and behaving as a combined Far East Area gives our people opportunities to serve large and international clients and acquire better industry expertise and gain experience in more complex and multi-disciplinary engagements. “A more integrated area makes it easier to cooperate with colleagues abroad and to offer better service to multinational companies. This also means our people will be given greater opportunities for regional and global mobility. Working at EY in Malaysia gives you access to our offices all around the Far East Area. It is akin to being one big country,” Rauf explains.

ARE YOU TOUGH ENOUGH?

Soo Fern is quick to point out that a career with a Big Four firm like EY is no bed of roses. “It’s tough as we are deadline- and results-driven. We are demanding because we employ the best and have high expectations of them. It’s a lot of hard work, with long hours and a great deal of pressure, but the positive aspects outweigh the cons.

“New employees will definitely gain from EY’s strong branding as well as vast knowledge and experience while working here. They will also find themselves in a firm with tremendous career prospects.”

To succeed in the firm, Soo Fern says interest and passion are a must. “You must also possess sound technical ability and be client- and people-focused. Most importantly, you must be able to balance personal commitments and professional life.”

Should they eventually leave the firm, EY alumni will be equipped with the skills and knowledge for bigger and better things. “Our employees will leave EY with a depth and breadth of technical competence and industry knowledge as well as a strong sense of discipline, healthy scepticism and useful skills such as multi-tasking and negotiation. They will also be blessed with the ability to meet deadlines and work under tremendous pressure,” Soo Fern stresses.