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Auditors are part medicine man, part head hunter, and part Sir David Attenborough of the financial world - never a dull moment!

JK Medora & Co LLP
External Audit

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Xerxes J. Medora

Hello, auditors! My name is Xerxes J. Medora and I am a Partner at JK Medora & Co LLP in Singapore. We assist our international clients with assurance, tax, liquidations, and forensics amongst other service offerings.

What is the biggest challenge in audit transformation you recently faced?

Client mindset changes have been one of the biggest challenges. In addition, increasingly the IT sophistication that audit and accounting firms have far outstrips client technological, mindset, and procedural capabilities. We continue to help our clients with this journey as it will enable more timely advice, better quality, more insight, and faster communication.

And how did you solve this challenge efficiently?

Regular dialogue about the massive advantages that technology can bring to an audit process as well as a client’s own day-to-day operation. This needs an investment of time on our end to help clients overcome obstacles and for clients to recognize that they have to move with the times or get left behind.

We worked with a client of ours in a collaborative way through our association, DFK International, using the latest technological tools, including Datasnipper. We saved significant amounts of time in routine verification work.

As a result, we were able to spend more quality time focussing on more judgemental issues and noted a number of cash flow improvements that our client could put in place. The IT tools allowed us a deeper insight into the key trends that were affecting the business which was greatly appreciated by our client. We have been engaged by them to conduct a year-round continuous audit.

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