Could you start with a brief overview of your professional journey and an introduction to Baker Tilly Cambodia?

I’ve been in Cambodia for over 24 years now, approaching my 25th year. I began my career at a young age, having been sent by one of the big four accountancy firms from Malaysia to establish a presence in Cambodia. Back then, the accounting profession was still in its infancy; there were only a handful of accountants in the country. I consider myself part of the first wave of certified accountants here, and I’ve witnessed the profession’s growth from virtually non-existent to now having several hundred registered accountants.

In Baker Tilly, we celebrated our 15th anniversary in 2022, having started in 2007. The firm was established during a time when Cambodia was opening up to the world, creating significant opportunities in compliance and governance. Our aim was to introduce international accounting practices to support the country’s growth. Being Malaysian, I felt a strong connection to the region, especially given Malaysia’s historical role as one of the first foreign investors in Cambodia. This background has allowed us to build strong relationships and serve many Malaysian and international companies operating here.

Can you tell us about Baker Tilly’s role in Cambodia’s economic landscape and the unique challenges businesses face here?

Baker Tilly is positioned as a key player in Cambodia’s economic development, providing essential services that help businesses navigate the complexities of the regulatory environment. Our firm offers audit, tax, and advisory services tailored to meet the diverse needs of both local and international companies operating in Cambodia. 

One of the most significant challenges businesses encounter is the regulatory landscape, which can be quite dynamic. Many companies struggle with compliance due to frequent changes in laws and regulations, and this can deter foreign investment. Our role is to guide our clients through these complexities, ensuring they understand and adhere to local requirements while also optimizing their operations. We are also seeing challenges related to infrastructure and a need for greater transparency in governance, which we are actively addressing through our advisory services.

How is Baker Tilly adapting to the evolving needs of its clients, and can you share a success story that highlights your impact?

Adapting to our clients’ evolving needs has become a priority at Baker Tilly. We are integrating technology into our services to enhance efficiency and effectiveness. For instance, we are utilizing advanced data analytics and automation tools to improve our audit processes, allowing our professionals to focus more on strategic insights rather than just compliance. This transformation not only benefits our clients but also positions us as a forward-thinking firm in the industry. 

A standout success story involved a local manufacturing company struggling with financial reporting. We stepped in to streamline their processes, which not only improved their operational efficiency but also enhanced their attractiveness to foreign investors. This transformation was pivotal, helping the company secure significant investment that enabled them to expand their operations and create jobs, thus contributing to the local economy.

What trends do you see shaping the future of accounting and auditing in Cambodia, and how does Baker Tilly contribute to the local community?

The future of accounting and auditing in Cambodia is set to be significantly influenced by digital transformation and sustainability. We anticipate a shift toward automation and artificial intelligence, which will change the way traditional accounting tasks are performed. 

Professionals in the field will need to adapt by developing their analytical skills and focusing on value-added advisory services. Additionally, we are seeing a growing emphasis on ESG reporting, as businesses recognize the importance of sustainability in their operations. Baker Tilly is committed to not just staying ahead of these trends but also actively contributing to our community. 

We engage in various initiatives, such as supporting local educational programs and providing pro bono services to nonprofits. We believe that fostering a culture of corporate social responsibility is crucial, and we encourage our employees to participate in community service projects, which strengthens our connection to the community and enhances our firm’s reputation.

What advice do you have for professionals entering the accounting field in Cambodia?

For young professionals entering the accounting field, my advice is to embrace continuous learning and adaptability. The landscape is evolving rapidly and staying updated with industry trends and regulations is essential for career growth. 

Moreover, cultivating soft skills such as communication and critical thinking will set you apart in a field that increasingly values not just technical expertise but also the ability to engage effectively with clients and stakeholders.