How embracing tech makes working in audit easier

Technology cannot be avoided, even in roles that have traditionally not been tech focused. But Grant Thornton’s Joel Jaison Chiriyankandath explains how it can be a huge benefit.

Starting your career can be daunting, no matter what industry you’re in. But with the continuous growth of technology, there are even more skills to grapple with, even for those who aren’t in direct technology roles or even technology-focused companies.

Joel Jaison Chiriyankandath is one such young professional, currently working as a trainee in audit and assurance in Grant Thornton, having joined through the company’s graduate programme.

He told SiliconRepublic.com that one of his main motivations for pursuing a career in audit was because it offers a strong foundation for understanding the financial health and business processes of organisations.

“Audit provides a unique in-depth perspective on how businesses function, offering insights into various industries and sectors. This exposure is invaluable for someone like me, who is eager to learn and develop a holistic understanding of how global businesses operate,” he said.

Initially, Chiriyankandath started with foundational tasks such as assisting senior auditors in the team with basic year-on-year trend analysis and understanding the audit process. As he became more proficient in auditing technologies, he moved onto more complex sections.

In the later stages of the graduate programme, his workload will increase and he will be expected to take on responsibilities of an audit in-charge.

Technology and audit

While not a traditionally tech-focused role, Chiriyankandath said technology plays a huge role in his day-to-day tasks. “I mainly use Excel to analyse large datasets and identify trends or discrepancies. We also use a third-party platform to interact with clients and facilitate document-sharing between the audit team and client team,” he said.

“Grant Thornton has started heavily investing in developing a new in-house technologies to further streamline the audit process and reduce inefficiencies. For example, the implementation of a cloud-based software that allows for multiple audit team members to conduct testing of different audit sections simultaneously and creation of a new audit sampling tool called GTap.”

To keep up with the ever-increasing demands of technology, Chiriyankandath has had to constantly improve his skills in this area. “I’ve honed my proficiency in data manipulation and visualisation tools within Excel, and I’m working on learning more about advanced analytics and automation as this reduces the time spent on manual tasks and allows me to focus on higher-level analysis and judgement calls,” he said.

“I’ve also sharpened my understanding of cybersecurity risks, which is becoming increasingly important within audits. Embracing technology not only makes the audit process smoother but also adds value to the clients by offering deeper insights into their financials.”

The audit industry has not escaped the AI buzz either. Chiriyankandath said he finds emerging technologies such as this incredibly exciting for his future in the audit and tax industry, especially for being able to identify patterns and flag anomalies that might go unnoticed by human auditors.

“AI has the potential to transform how we work by automating routine tasks like data entry, sampling and even some analytical procedures, which could free up time for auditors to focus more on strategic analysis that requires judgement and advisory roles,” he said.

“For the tax industry, AI could simplify complex tax compliance processes and provide faster insights into changing regulations, helping clients stay up to date.”

However, he warned that there will still be a need for human judgment and expertise. “While AI can handle the data, auditors will be key in interpreting the results and providing context, ensuring that audits remain both efficient and insightful.”

Advice for future graduates

While there are plenty of graduate programmes to choose from, Chiriyankandath said mentorship plays a significant role within Grant Thornton.

“To ensure graduates are progressing toward their professional goals, there are regular performance reviews and open feedback culture that intertwine with the Grant Thornton’s Trainee Progression System,” he said. “Even if you have graduated with a STEM degree, you will find the needed support to make the switch to this profession simply due to transferrable skills between STEM and audit.”

However, while graduate programmes are designed to train up early-career professionals with plenty of support, they’re not without their challenges.

For Chiriyankandath, one of the most challenging aspects has been balancing work, studying for the Associate Chartered Accountant (ACA) exam and maintaining a social life.

“The workload during busy season can be quite intense, with long hours and tight deadlines, leaving little time for anything outside of work. Add to that the rigorous demands of ACA exams, and it feels like there’s always something hanging over you, whether it’s client work or studying for the next module,” he said.

“Looking back, I wish I had known just how important it is to set boundaries and carve out time for relaxation. I also underestimated the level of discipline needed to manage both work and studies effectively. I’ve learned that it’s OK to ask for support, whether from colleagues, mentors or friends, and that finding a balance early on is crucial to avoid feeling overwhelmed later in the programme.”

To other graduates, he also advised embracing every opportunity to learn, even if it’s outside their comfort zone. “Graduate programmes are designed to give you a broad experience, so take advantage of that by being open to projects that might not be in your direct line of interest.”

He also said networking is key as these connections can provide support, advice and open doors in the future. “Don’t be afraid to ask questions or seek feedback. This is a crucial part of your growth,” he said.

“Lastly, be patient with yourself. It’s normal to feel overwhelmed at times, but trust that you’re gaining valuable experience that will pay off. Stay curious, keep learning and remember that every challenge is an opportunity to grow.”

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