Login
iscover
Aidan is a highly experienced partner focused on providing audit, advisory and accounting services, specialising in the not for profit sector.
Aidan Smith – A Scottish auditor (with a fling for jokes)
13 June 2024
•
4 minute read
How did you start down this career path?
I trained as a Chartered Accountant with HLB in Glasgow, working in the audit division.
One day, an opportunity arrived in my email which, when I got the chance to read an email (about five hours after the email was sent as I had to share a desktop computer with a group of four in my office. That is more a comment that it was a long time ago, not that Glasgow is stuck in the dark ages!) from one of the partners offering the chance of a three month secondment in Sydney.
Twenty years later, I am still here. In 2007 I became a partner at HLB Mann Judd, and in 2019 the Head of Not for Profits for HLB Australasia.
What inspires you in your role/industry? Why?
Working with not for profits allows me to work with individuals passionate about making a positive societal impact. I assist in ensuring they are complying with increasing complexity of regulation, and their financial statements are clear and transparent, in accordance with accounting standards. The opportunity to work closely with dedicated teams, witness the tangible benefits of their efforts in the community, and contribute to meaningful change can be incredibly rewarding.
I also have a passion for problem-solving and recognise the pivotal role that financial integrity plays in the success of all organisations. The prospect of contributing to the financial health and efficiency of businesses, including not-for-profits, excites me. The blend of technical expertise and ethical responsibility that accounting demands aligns with my personal values and career aspirations, driving my commitment to excel in this field. I also use my problem-solving skills with my two children, although I find that I am often more successful with my clients than my children!
What's your approach to customer service that separates you from the rest?
As an accountant, my approach to customer service is distinguished by a combination of personalised attention, proactive communication, and a deep commitment to understanding my clients' unique needs.
I prioritise proactive communication and build strong relationships by actively listening and tailoring my services to my clients goals and challenges. This personalised approach ensures that each feels valued and understood, fostering trust and long-term partnerships.
I have a strong commitment to continuous learning and staying abreast of trends and best practices, ensuring my clients benefit from the latest innovations and techniques. Combining these elements, my approach to customer service is to deliver exceptional value, trust, and peace of mind to my clients. That’s the aim anyway, and I try my best every day!
How do you innovate and stay ahead of industry trends?
- Continuous learning – I regularly attend training sessions and conferences.
- Reading & research – I am involved in the production of the HLB NFP publication For Impact.
- Leveraging technology - It is tough to stay ahead - by the time I finish this article, some of the points made may already be out of date! However, if you do not invest in technology, you get left behind. We use cutting-edge auditing software and tools that automate routine tasks, enhance accuracy, and provide real-time financial insights. We also incorporate data analytics to identify trends, forecast financial performance to provide more strategic advice to clients.
- Regulatory awareness – I keep up to date with changes to accounting standards, regulatory changes and participate in the ACNC Adviser Forum to stay ahead of potential changes and influence future policies.
- Engaging with the professional community - At HLB Mann Judd, we formed the Exclusive Not for Profit Community. The community was formed by bringing together numerous senior executives in the NFP sector, asking them what they needed and what would help them drive their mission. Overwhelmingly, the response was for greater access to peers, technical expertise and thought leaders.
- Thought leadership – We survey the NFP community twice a year to produce our Not for Profit Leadership Reports on strategic planning and financial management.
- Client feedback – We regularly solicit feedback from clients to understand their evolving needs and challenges and innovate solutions that address these effectively.
What is the toughest challenge you've faced in your role? How did you overcome it?
A major client was considering selling their business, the complexity of their financial operations had increased significantly, leading to discrepancies and incomplete documentation in their records. This situation was compounded by tight deadlines, as the audit results were critical for calculating the final selling price.
This required me to undertake a thorough assessment of the situation to identify the root causes of the discrepancies and gaps in documentation. This involved detailed discussions with the client’s finance team to understand their processes and challenges. Recognising the need for a collaborative approach, I assembled a dedicated team, and we established clear roles and responsibilities to ensure efficient workflow and accountability.
We streamlined our approach and used technology to automate many of the repetitive and time-consuming tasks. This not only increased our efficiency but also minimized the risk of human error. We maintained open lines of communication with the client throughout the process, providing regular updates and seeking clarification whenever needed. This proactive communication helped in addressing issues promptly and kept the client informed of our progress.
As a result of our work, we identified an error made by the purchaser and increased the sales price for our client, which resulted in a very happy client. And a happy HLB team too!
What are some of your goals for the next 5 years?
I want to continue the challenge of stay ahead of industry trends by leveraging financial technologies, including data analytics tools and AI-based solutions. This involves working with our HLB team who specialise in these areas. Working as part of an innovative team is critical – I realised at an early age that I can’t do everything and to work collaboratively as part of a team is the best way to achieve your goals.
Work life balance is a big focus for me – often working in audit the hours can be unsustainable. I set personal goals to maintain a healthy work-life balance, allocating sufficient time for my family, hobbies, and self-care.
Learn more about HLB Mann Judd here and our Exclusive Not for Profit Community here.
