Foo Kon Tan LLP (FKT) stands tall as one of Singapore’s most distinguished accountancy firms, renowned for its exceptional accounting, audit, tax, and advisory solutions tailored to both businesses and individuals. With a legacy spanning decades, FKT has earned an esteemed reputation in the financial services domain.

At the heart of FKT’s success lies a team of highly skilled and experienced professionals dedicated to understanding their client’s unique needs and crafting strategies that drive success and growth. Chong Ee and Jack Cheong who are members of the Assurance Team, stand as outstanding examples of this commitment. As Senior and Partner, respectively, in the Assurance Department, they take on a wide and varied scope of responsibilities, including audit practices and risk assessment.

Benefiting from unwavering support within their organisation, Chong Ee and Jack seamlessly combine their passion for problem-solving and exemplary communication skills to provide invaluable auditing and assurance services to those in need.

We spoke to Chong Ee and Jack about what it means to be a part of the FKT team.

What initially drew you to FKT?

Chong Ee: I have a passion for accounting, and I thoroughly enjoy finding solutions to problems. There’s a great sense of satisfaction that comes with resolving challenges and arriving at solutions. I knew that FKT would offer me that and more.

Jack: I was looking for new challenges in a new environment when I came across a recruiter who recommended FKT. She informed me that FKT is an interesting place to work with friendly and helpful colleagues. Well, I’ll just say it was an excellent sales pitch from the recruiter. She closed the deal with me!

What stands out to you most about this company?

Chong Ee: Despite being one of the top 10 audit firms in Singapore, life at Foo Kon Tan is not solely about work. Foo Kon Tan’s company culture is one that supports both team and individual efforts and trusts its employees with meaningful jobs. I love working with my teammates to complete large jobs that help the firm achieve important business goals. I also appreciate being able to work independently on diverse tasks knowing I have a strong team that’s supportive ofeach other. The firm also offers numerous events that enrich the experience of being a working adult. These include team-building activities, pre- and post-peak dinners, Corporate Social Responsbility (CSR) activities, and teatime sessions.

Jack: What I like about FKT is its positive culture that values work-life balance, promotes communication and inclusion, and prioritises employee well-being. Throughout the years, I have also learnt to appreciate and treasure the unity, rapport and trust that I have established with my team.

That sounds wonderful! Can you tell us about your respective roles in FKT?

Chong Ee: My main role is to examine and validate clients’ financial records and statements to ensure accuracy, compliance with relevant laws and regulations, and adherence to accounting standards. This is essential in upholding the integrity of financial information, promoting transparency, and enhancing investor confidence in the business environment.

Jack: Mine is a multifaceted role that includes developing comprehensive audit plans, defining the scope and objectives of the audit, and allocating resources efficiently. As a leader, I guide the audit team, check their work for compliance with auditing standards, and delegate tasks effectively.

Communicating audit findings and recommendations to clients, addressing their concerns, and reviewing financial statements are also integral aspects of my job. Additionally, I identify and mitigate risks in financial reporting processes through well-designed audit procedures.

Last but not least, I have to engage in business development activities, assess potential risks in new client engagements, and contribute to the firm’s growth and profitability.

What are the most challenging aspects of your job and how do you strive to overcome them?

Chong Ee: The most challenging aspect of my job is ensuring that our work is completed within the given timeline. Auditors often have strict deadlines to adhere to, which can be demanding, especially during busy periods like year-end audits or when dealing with complex and extensive financial records. Meeting the timeline requires efficient time management, strong organisational skills, and the ability to prioritise tasks effectively.

Jack: Some of the challenges are managing the high and intensive workload with tight deadlines, especially during the “peak period”, which may lead to long working hours and high stress levels. We also have to keep up with changes to accounting and auditing standards and relevant laws and regulations, which can be rather challenging. Finally, we have to handle different clients in various industries and sectors and understand their diverse business operations, particularly those with complex processes, systems and accounting.

Despite these challenges, many auditors may find the profession fulfilling and rewarding. For example, the opportunity to interact with a wide range of individuals, from client personnel to engagement team members, can be incredibly valuable. Building professional relationships and working closely with different people is a rather interesting and engaging experience. Auditing is certainly not a desk-bound job! Also, as I’ve mentioned above, auditors often work with a variety of clients across different industries, which provides diverse experiences, constant learning opportunities and continuing professional growth.

That’s a great way of looking at things! Would you say that FKT has helped you grow in any way?

Chong Ee: Absolutely. Foo Kon Tan not only provides adequate training to its staff but also encourages them to pursue professional examinations to enhance their knowledge. In line with fostering professional growth, FKT has regular promotion periods to reward staff who contribute significantly to the firm.

Jack: When I first joined Foo Kon Tan as an Audit Manager in 2010, I benefited a lot from the yearly in-house training which starts from June till December. Foo Kon Tan identifies and looks for partners who can train, mentor and develop the type of accounting professionals that clients and others will trust and want to work with. In Foo Kon Tan, the purpose of the training is to provide staff with the knowledge and necessary skills to carry out our daily work. As an audit partner, it is necessary to keep myself abreast with the current regulatory, legal, professional and ethical standards relating to audit as I am required to adhere to the Accounting and Corporate Regulatory Authority (ACRA) and Institute of Singapore Chartered Accountants (ISCA) requirement guidelines.

Finally, do you have any tips for fresh job seekers?

Chong Ee: Remember that landing your dream job may take time, so be patient with yourself. Stay persistent, keep learning and growing, and be proactive in your job search. The right opportunity will come your way. Good luck!

Jack: Embrace the challenges which I have mentioned above. Flip it, and you can easily see and eventually learn to appreciate the opportunities for learning and professional growth that these challenges provide. To me, as an auditor, it is about getting the work completed properly and productively, while also allocating time for yourself to engage in other activities, doing whatever is meaningful to you. This can mean spending quality time with your loved ones, exercising, or even just reading. Rest and recharge, for the longer and even brighter road ahead.