My career as an auditor (and why I love it)

Garreth Hanley:
This is With Interest, a business, finance, and accounting news podcast, brought to you by CPA Australia.

Tiffany Tan:
Welcome to With Interest Podcast. My name is Tiffany Tan, and I'm the external reporting and assurance lead at CPA Australia. In today's show, we are recognising the importance of auditors for Auditor Proud Day. Auditor Proud Day is celebrated on the last Thursday of September. It is a day to acknowledge the vital role auditors play in supporting strong corporate governance and businesses globally. It's all about recognising the contribution and the values they bring to the table.

So, in the interest of looking forward, today we are talking to Natcha Lertanuntrakul, a young auditor from William Buck. Natcha was born in Thailand and spent her whole life in New Zealand until recently, where she made the move to Australia for a job opportunity, you guessed it, in auditing. Natcha's journey into auditing started with a curiosity about how organisations run and the passion for ensuring financial integrity. Welcome to With Interest, Natcha.

Natcha Lertanuntrakul:
Thank you, Tiffany. Thank you for having me here.

Tiffany Tan:
Glad to have you here, Natcha. You have such an interesting journey and perspective on being an auditor. I'm really excited to listen to your story. So let's start from the beginning and tell us a bit about your journey from high school to auditor.

Natcha Lertanuntrakul:
So my journey from high school to becoming an auditor wasn't something I initially planned in the beginning. Back in high school, I was pretty unsure about what I wanted to do in life, and I was still trying to figure out my interests and strengths. So during this time, my parents began encouraging me to consider accounting. They emphasised a lot that it was a safe and secure profession, something that could provide me with stability and a steady income.

And initially I was hesitant because the idea of sitting behind a desk all day and working with numbers didn't sound particularly interesting to me as I wasn't good at math in school, but I did respect my parents' perspective and I knew that they had my best interest at heart. So I decided to take on their advice and began focusing on accounting in high school.

Tiffany Tan:
How interesting. My parents told me the same thing over 20 years ago. It is great to see the accounting profession has stood the test of time and still held in such high regards. All parents want their child to be an accountant, by the sound of it.

Natcha Lertanuntrakul:
So it wasn't until university, which was a turning point for me, that I got to delve deeper into accounting and actually understanding it wasn't just about crunching numbers all day. It's about understanding businesses, providing insights, interpreting data. And it wasn't until that I became an auditor that I found myself growing more confident in the choice to do accounting. So I would really thank my parents for putting me on the right path that led me to a stable and rewarding career.

Tiffany Tan:
So Natcha, why did you decide to be an auditor? So you did start with an accounting degree, which is generic, and then you decided that the auditors is the way to go, and you started your career as auditor.

Natcha Lertanuntrakul:
So again, it wasn't something I was 100% sure about, but I kind of fell into auditing because the opportunity was already in front of me. And I knew that before becoming an auditor, and I learned this from uni, is that they do play a critical role in maintaining financial integrity and ensuring that the financial statements are accurate, they comply with regulations. So I thought that being able to contribute to ethical standards of business will give me a sense of purpose and fulfilment in the work that I do, something that could really make a difference to the world.

And I think auditing particularly appealed to me because we're not doing the same thing every day as everybody perceives. We're not sitting at our desk all day and we're not doing the same things every day. We do different tasks, like client visits. This can be regional, interstate, or even overseas. We can be doing stock takes with different industries or we can even be having lunch with the client. So every week looks different and there's always something to look forward to.

Tiffany Tan:
What a happy accident to fall into audit, hey? It's amazing that you got into the experience of audit and then that sort of cement your view about auditors is the way to go. As a former auditor myself, I really miss getting to different places of work and meeting new people along the way. I think I need to start going back to audit maybe. Now, what's been the coolest thing you've done as an auditor so far?

Natcha Lertanuntrakul:
So as auditors, we travel often, and we meet new people, and we work in different environments. I would say being able to interact and develop relationships with the client and the people you meet along the way, it's very much a social and communicative job as we're having to liaise with the client around 60 to 80% of the time. So I definitely say being able to meet new people and grow my network, it comes naturally with the job. I don't have to make an effort to go out and grow my network.

Another thing is that we get to go behind the scenes of businesses and seeing how they operate and getting to know the ins and outs of them. So it can sometimes be interesting to work on that particular engagement, especially if it's a well-known or high profile company. But again, as I'm only in my early stages in my career as an auditor, I'm sure there is more cool opportunities to come in the future. What about you, Tiffany? Do you have any cool experience of yours to share?

Tiffany Tan:
Well, there's a lot of cool experiences, but if I were to pick one of the over 10 years of my experience as an auditor, it will be auditing a winery client. So that will be back in my initial audit days, where I'm a junior auditor tagging along to all the audit jobs with the manager. So one of the most memorable one is the stock take for the winery. I get to travel to different vineyards, in Barossa, Coonawarra, and all the other winery regions, and open up the barrels of wines, before the bottle them, and then inspect them. And guess how we do the stock take? We use this dipstick, we dip into the wine barrel and actually look at the line.

Is it a full barrel? Is it like a half barrel? The other thing we do as well, is obviously, you can't go to the winery and not taste your wine, so you want to make sure that the wine is still in good quality. It has not turned sour or evaporated and so on. So that was quite interesting and a good experience. And I'm sure, Natcha, with many more years of audit ahead of you, you will get to experience this. Winery is just one type of clients, but obviously you talk about the high profile clients as well. You will get to see different businesses. One day you might be looking at the startup tech. Another day you might be auditing in a fashion house. Who knows, hey?

Natcha Lertanuntrakul:
That's very interesting.

Tiffany Tan:
Yes, yes. But you know what? The experience that you told me just now that you talk about your experience and meeting people, it's already good stuff for auditors. That's my personal view anyway. It's great to hear that the audit work that you're doing so far, it's bringing so much joy and satisfaction to you, Natcha. But I know, having said that, audit is a tough gig, especially during the busy season. Now, it would be interesting to hear your perspective on how you have been managing to keep your sanity as a young auditor in this busy season.

Natcha Lertanuntrakul:
Yes. I think this is a very good question to talk about because I definitely learned it the hard way when I first started. But I would say, and a lot of people have said this to me as well, is that it's okay. The work will get done one way or another. So as auditors, we have a lot of work that can be piled up every week. Every week can be a new client. So every week is a new job that may be in a completely different industry, and plus the previous week's job carried over. So it can seem like a never-ending cycle, especially during busy season. But the saying of it's okay, the work will get done is very applicable because you sometimes forget that you're working on an engagement as a team.

And I do forget this a lot as well. And yes, you might be assigned different sections of the file based on your position and experience, but the people on your team is there to help guide you so you are never alone. And apart from the work itself, I think that maintaining work-life balance is crucial. For instance, I rarely work after 5:30 because I need that time after work to spend time with friends and family, or I need to study, and it's just a good time for me to wind down after a long day from work.

So it's important that when you shut down your computer at the end of the day, you also shut down your brain off from work. And I know sometimes it's difficult to do that because you are just starting out and you want to impress other people, but you have to do that in order to not burn out. So as a job, it's a part of your life, but it's not your whole purpose.

Tiffany Tan:
Well, I'll say, Natcha, what you said, just not about teamwork. I think often there's a misconception that auditors work alone. It's so untrue. It's such a people-person's job. We work as a team, we see the clients, we work with the clients as well. So it's definitely a people-person job. And you know what? I really love what you say as well. I think having a solid routine and knowing when to take a breather makes a big difference during busy season.

I'm glad that you found a way to manage the pressure while still staying on top of things. Now, you mentioned that one of the big reason for you choosing auditing was its role in good governance. So in your view, what makes auditors such a crucial part in the business world?

Natcha Lertanuntrakul:
I think auditors are very important because we serve as a gatekeeper of financial integrity, and we work to ensure that the company's financial statements are accurate, reliable, and it's in compliance with auditing standards. To me, that is important for the public to know that the company that they might use their services for is operating transparently and reasonably because this is what gains the public's trust and how the business continues to operate.

So auditors are very important, and us auditor, we want to ensure that what the company claims to be is actually true. And our work has relied on so many stakeholders, like investors, creditors, and even employees of those companies, because no one wants to associate with a company who lacks integrity and isn't accountable. So that's why auditors are a vital part of the business world.

Tiffany Tan:
Totally agree, Natcha. Auditors play such a crucial role in maintaining trust and transparency in the business world. Some might even say auditors are the unsung heroes of the business world, quietly working in the background, ensuring everything runs smoothly behind the scene.

Jacqueline Blondell:
If you're enjoying this podcast, you should check out our in-depth business and finance show, INTHEBLACK. Search for INTHEBLACK on your favourite podcast app today. And now back to With Interest.

Tiffany Tan:
Lastly, if you could give your younger self a piece of advice about becoming an auditor, what would that be?

Natcha Lertanuntrakul:
Don't be afraid of asking questions. Dig deeper and continuously learn because the more you understand, the more effective and impactful your work will be. When I first started, I was afraid of asking too many questions because I didn't want other people to have that perception of me that I was incapable. But I often forget that I've never done auditing before and I would never learn if I don't ask those questions.

So don't be afraid of asking questions, especially in your first year because that's what is expected of you. But once you hit that one-year mark, you're expected to know most things. So definitely ask within your first year and try to grasp as many opportunities then. And for those people who still haven't figured out what they want to do in life, that's absolutely okay to not know what you want out of life yet.

But I'd say come give auditing a go. Maybe you might fall in love with auditing or you might think that it's not for you, but I can guarantee you that auditing will give you a range of skills and knowledge that can be useful in many other careers. Auditing may also broaden your perspective in different areas of accounting and business, and you might find your career through auditing then. Also to note that you don't have to be good at maths to do auditing, like me.

Nowadays, technologies such as Excel and other software is very useful. I personally find it useful, and you can always revert back to that old classic calculator as well. So maths is one component of auditing, but not the only one.

Tiffany Tan:
What an interesting myth, isn't it? So I often hear from friends or people on the streets like, "Oh, you've been an auditor, been an accountant. No way. I'm so bad at maths. I can't make this work." I'm like, "No, no, no, you've got it all wrong. I'm an auditor myself. You don't need to have good maths. You need to have some sense of maths. But really, the most critical thing is your critical thinking and you're inquisitive, you want to know more, your desire to find the truth."

That's really more important for auditors, and also apply your judgement on difficult issues and stuff like that. Maths is only a really small component. By the way, I'm also very impressed that you have given us such advice. I do live by the mantra, by the way, that there's no such thing as a silly question. And thank you so much for joining us, Natcha. It's been an absolute pleasure talking to you and hearing about your story and your journey to be an auditor. We wish you well in your career and definitely we think you will be going far and do well in this job as an auditor.

Natcha Lertanuntrakul:
Thank you, Tiffany. Thank you for having me here.

Tiffany Tan:
For more information on today's topic, be sure to check the show notes for this episode. With Interest is a regular podcast, so if you enjoyed today's show, please subscribe on your favourite podcast by searching for CPA Australia's With Interest podcast. Thank you for tuning in, and we'll catch you next time.

Garreth Hanley:
You've been listening to With Interest, a CPA Australia podcast. If you've enjoyed this episode, help others discover With Interest by leaving us a review and sharing this episode with colleagues, clients, or anyone else interested in the latest finance, business, and accounting news. To find out more about our other podcasts and CPA Australia, check the show notes for this episode, and we hope you can join us again for another episode of With Interest.