Australian Enterprise Awards 2023

Feb22538 Accountancy is a highly competitive world, defined by those that set the highest of standards, practice the most diligence, and establish best practices. Following the company’s recognition as the ‘Best Tax & Business Advisory Company’ in the state of Australia, we spoke with Melican Partners’ Ayden Melican to find out how the firm sustains its impressive reputation in the space. From the outset, Ayden is quick to establish that the firm’s values sit at the heart of its enduring success, driving its processes and operations. Being ethical is all important, alongside honesty, to ensure that all clients are best served by Melican Partners’ experts. “The core values of our accounting firm include integrity, objectivity, confidentiality, professionalism, and excellence. Integrity involves honesty and ethics in all business dealings. Objectivity refers to the ability to remain unbiased and neutral in financial reporting. Confidentiality requires accountants to keep all client information private and secure. Professionalism entails following professional standards and maintaining a high level of competence. “Finally, excellence demands a commitment to quality and accuracy in all accounting services provided. These values serve as a foundation for building trust with clients and maintaining a strong reputation in the accounting industry. They are crucial in ensuring the accuracy and reliability of financial reporting and ultimately contributing to the success of both clients and the firm itself. Those values are essential for an accounting firm.” It perhaps goes without saying, but these values extend beyond simple external communications, but rather inform the nature of the firm’s internal culture too. This approach, in turn, ensures a uniformity and consistency with its services and ethos. “Employees are encouraged to collaborate and share their knowledge and expertise to provide exceptional service to clients. Communication is open, honest, and transparent, and management fosters a supportive environment where everyone is valued and respected. The firm has a commitment to ongoing learning and development, investing in the professional growth of its employees. A culture of high ethical standards and attention to detail is emphasized, ensuring the accuracy and reliability of financial reporting. Overall, a our firm’s internal culture fosters excellence, teamwork, and a strong commitment to providing quality service to clients.” This strong commitment to the founding values of the firm has allowed Melican Partners to weather storms that have proven to be immensely challenging for its peers and competitors. Indeed, the accountancy sphere as a whole has endured significant upheaval on the back of a greater and greater need towards online and digital infrastructure to cater to the changing needs of its clients. “The accounting industry is constantly evolving and adapting to new technologies, regulations, and business practices. One current trend is the increasing use of automation in accounting processes, such as bookkeeping and tax preparation. Another trend is the emphasis on data analytics and business intelligence, as firms seek to provide more strategic advice to clients. “Sustainability reporting and environmental, social, and governance (ESG) reporting are also gaining importance, as companies and investors prioritize sustainability and ethical practices. Finally, remote work and virtual communication have become standard practices in the industry due to the COVID-19 pandemic, with many other firms adopting flexible work arrangements for their employees,” Ayden agrees and explains in more detail. And so, we come to the future of Melican Partners, which Ayden clarifies hinges on digitization and in development of the financial planning arm of the firm. “The future for us as a company is likely to go down the path of becoming a more online based firm whilst also being easily accessible to our clients in person at our office, on the phones and via emails. We are putting time in to developing our financial planning arm more. We are one of the longest standing firms in the diamond valley region and have been a leader in this area for 20 years now with no plans of stopping. We are hoping to become a 1 stop shop for our clients in all aspects of their financial affairs.” Company: Melican Partners Name: Ayden Melican Email: [email protected] Web Address: https:// Address: 103 Grimshaw Street, Greensborough, VIC 3088 Telephone: (03) 9432 9611 Best Tax & Business Advisory Company – Victoria