Why is teamwork highly required for accounting practitioners, especially those in the auditing field?
No Number Crunchers
Eunice Kwok, Practising Director of Mazars CPA Limited, says, ˇ§Teamwork is indispensable for the auditing profession. Taking into consideration the volume of work and the limited time frame, each audit project involves a team to handle.ˇ¨ She comments that accountants are not number crunchers working individually all day without any interaction with others. ˇ§For example, to prepare an auditorˇ¦s report for a medium-size listed company in Hong Kong, we need scores of staff. If the client has various office locations, more staff will then be needed.ˇ¨
Culture of Teamwork
Kwok says that teamwork creates a lot of synergy and yields better results at work. ˇ§Each individual staff is unique and has their own DNA. We respect individual differences and try to understand one another so as to work better as a team. We believe that each of them has contribution to the firm and they work together towards the same goal.ˇ¨ To provide such an environment for staff to work, Mazars has created a teamwork culture. ˇ§The senior management adopts an open door policy by welcoming colleagues to share any ideas with them at anytime. In fieldwork, senior staff use a coaching approach to guide junior staff instead of giving them orders. In this way, staff learn faster and work quality is enhanced. At the same time, team spirit is built up,ˇ¨ Kwok says.
In each project, the whole team has to discuss and agree on the planning before kicking off fieldwork. This involves much communication, cooperation and division of labour. During fieldwork, auditors have to work closely not only with colleagues, but also staff of the client company.
In terms of internal training, Mazars puts the element of team building in it. The firm provides training for senior staff on management styles and communication. For junior staff, they receive on-the-job training in which they learn soft skills from senior staff.
Team-building Fun
Every year, Mazars organizes a team-building event, the Mazariades, for almost 1,000 staff worldwide from diverse backgrounds and cultures to join. Apart from having fun in different sports activities, staff learn to communicate with colleagues from other countries. ˇ§The event can widen their horizons and enhance their personal development,ˇ¨ Kwok says. The firm also encourages staff to organize corporate functions such as annual dinner and Christmas party in which staff can exercise team spirit.
Teamwork Pays off
Do all these team-building activities pay off? Kwok says, ˇ§In recruitment talks we conducted at universities, our staff shared with students how they enjoy the teamwork at Mazars.ˇ¨ She adds that after Mazars had been reorganized in 2007, only 20% of the staff left the company. ˇ§A 20% turnover is relatively low in auditing firms. This shows that staff have a sense of belonging in the company.ˇ¨ Another example justifying the efforts is that staff who have participated in the Mazariades in the past three years are still working at Mazars.