Fresh Insights from Madhu Nair | EY Australia

Navigating the Evolving Landscape of Auditing with EY's Madhu Nair

In this episode of the Books of the Boardroom podcast, host Sumith talks with Madhu Nair, Partner at EY Australia, who brings nearly three decades of experience in the accounting profession.

Madhu takes us on his professional journey from handwritten ledgers in India to becoming a Partner at one of the Big Four firms. He shares how his accountant father inspired his career choice and reflects on the satisfaction he's found staying with EY for 25 years while many peers migrated to commercial roles.

The conversation explores the seismic shifts in the audit and assurance landscape:

• How organisations have grown exponentially in size and complexity
• The post-Enron regulatory framework transformations
• Technology's integration into every facet of financial reporting
• The challenge of converting vast data points into meaningful information
• The evolution from offshoring to near-shoring and friend-shoring

Particularly insightful is Madhu's perspective on the expanding definition of stakeholders beyond shareholders, employees, and customers to include communities and governments—especially as sustainability reporting becomes mandatory.

As AI and automation reshape the industry, Madhu offers a balanced view on what can be automated versus where human judgment remains irreplaceable.

Madhu provides refreshing perspective on the importance of community and peer influence in career decisions, revealing how his cohort of colleagues has been instrumental in his professional satisfaction. He also addresses expected future trends in financial auditing, including the continued evolution of sustainability reporting requirements.

This episode delivers valuable wisdom from "the other side of the table" for finance leaders navigating today's dynamic business environment.

00:00 Connecting with My Dad Through Accounting
00:31 Introduction to the Podcast and Guest
02:07 Madhu Nair's Professional Journey
06:15 Challenges and Changes in the Auditing Industry
10:57 Technological Advancements and Their Impact
17:48 Sustainability and Regulatory Changes
22:22 The Role of AI in Accounting
24:44 Conclusion and Final Thoughts

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Chapters

• 0:00 Connecting with My Dad Through Accounting
• 0:31 Introduction to the Podcast and Guest
• 2:07 Madhu Nair's Professional Journey
• 6:15 Challenges and Changes in the Auditing Industry
• 10:57 Technological Advancements and Their Impact
• 17:48 Sustainability and Regulatory Changes
• 22:22 The Role of AI in Accounting