An Interview with
Joyce S.Y. Fok CPA (Practising)
Founded by Ms. Joyce Fok in 2017, it is a boutique size CPA firm dedicated to providing audit services for SMEs and start-up companies in Hong Kong
10 October 2020
Tell us about your background, and what are you most passionate about?
I like to describe myself as an accountant born in Hong Kong and raised under the influence of western culture. Always passionate about simplification, trying to bring everything into a more orderly focus, and learning to resolve problems in the simplest way possible.
Describe a time you had to make a tough decision (e.g. budget cuts, organizational restructuring, market withdrawal, etc.). What did you do and what was the result?
Whenever there are outside factors that we cannot control (i.e. COVID-19), during this time, as a team, we will naturally try to stay together. A lot of planned expansion plans might need to be temporally put aside. Tough decisions like cutting costs and some staff benefits are inevitable. But in any case, we don’t suggest layoff, as we believe that our staffs are valuable assets.
How would others define your communication style? Do you prefer to be close to your employees or maintain a healthy distance, and why?
Assertive communication style. I prefer to be close to my employees because sometimes I spend time with them more than I spend with my family. I consider them more as my teammates rather than merely employees.
How has the industry been changing in recent years? What do you think are the biggest challenges your industry will face in the next 5 years?
The biggest challenge in recent years is the lack of newcomers to the audit industry. Many millennials consider this industry as a stable but not challenging industry. They might join the professional firms after graduating for working experiences before eventually moving to MNC or local companies for career advancements. In the next 5 years, we foresee local audit firms will face the difficulty of finding suitable manpower, and some of the general audit works will be replaceable by technology (i.e. Artificial intelligence and block chain)
What personality traits make a good leader?
Confidence, focus and drive, integrity, accountability, ability to think out of the box
What does the future hold for your company?
We are at an age of digital transformation and we will see frequent disruptions in the future. For our company to be able to sustain, we will need to have an open mind to embrace changes. We will need to keep ourselves up to date while staying flexible, and at the same time maintaining our ethical and professional standards.