Q&A: One lesson I’ve learnt – Abinash Dhungel FIPA

Q: Before immigrating to Australia in 2001, you grew up in Nepal and then spent many years in the United States and New Zealand. How has your upbringing and experience moving countries shaped your perspective?

A: I was born in Nepal in very fortunate circumstances. My parents were well-educated and immigrated to the United States for their postgraduate studies, which is where I finished high school.

My upbringing was that of a typical immigrant child who had to leave all that was known to them, move to another country and learn a completely different culture and language.

It was a defining moment in my life because it helped me to learn how to be resilient, cope with uncertainty, and be comfortable with taking risks.

After finishing high school, my parents and I immigrated to New Zealand. I studied commerce there and worked in the telecommunications sector before immigrating to Australia in 2001, and then started working in financial services.

Q: What motivated you to become an accountant?

A: Accounting was a second career choice for me. I moved into the profession after I arrived in Australia and completed my Master of Commerce, Accountancy, through the University of New England.

Establishing yourself financially is top of mind for most immigrants. That was key in leading me to seek out a career that would give me stability and financial security.

I also liked the idea of working with people and helping them reach their goals. I believe my work has a substantial, lasting and life-altering impact on everyday Australians. The ability to make a meaningful contribution through my skills motivates me to be a financial adviser and accountant.

Accounting is a great profession because you have the opportunity to work in private practice, or you can work for a large corporation and travel around the world. The opportunities for travel excited me when I was younger, as well as the possibility of adding value within a corporate setting or with individual clients. The more I worked with individuals, the more I found my niche was working with SMEs and individual clients

Q: What is one key lesson you’ve learnt as an accountant? Has this learning changed how you approach your work now compared to when you first became an accountant?

A: Early on in my career I had a very narrow approach to my work. I primarily focused on the financial aspects when giving advice. As I’ve become more experienced as an accountant and financial adviser, I’ve realised the importance of expanding my knowledge and skill set beyond pure finance, and incorporating non-financial aspects into the advice.

Australia is an incredibly diverse, multicultural society, and interacting with a diverse range of people while communicating complex information effectively is a challenge that requires developing active listening skills.

The study of behavioural finance has helped me immensely in being aware of cognitive biases, and that awareness helps me to delve deeper into getting to know my clients, prompting them to think more deeply and reflecting to uncover underlying issues. This nuanced approach to dealing with individual clients helps me to tailor my advice to the clients’ unique personal circumstances.

A holistic, nuanced approach is essential.

Q: What are some of your proudest professional achievements?

A: There isn’t a single defining achievement that I am most proud of, but there are many proud moments that stand out in my mind.

Each time a client achieves a goal, each time a younger accountant I have mentored reaches a milestone and each time the profession contributes to the wellbeing of the community we serve are all very rewarding. There are many small milestones throughout my career which I am very proud of. I’m grateful that I’ve been able to contribute.

I spend my days helping individual Australians buy a home, save for their retirement or pay for their children’s school fees. It’s a very satisfying job where you see the benefits to society and to individuals every day.

Q: How does your connection to your Nepalese heritage continue to shape your career?

A: According to ABS data, between 2011 and 30 June 2021, the countries with the largest increases in immigration to Australia are India, China, Philippines and Nepal.

I have strong ties to Nepal so it is only natural that I assist the next generation of Nepalis to assimilate into their new life and their new home.

Moving to a new country and learning a new culture is challenging. It is an absolute honour, privilege and my duty to make the journey easier through mentoring many migrants to Australia and assisting them to be contributing members of Australian society. I have been given many opportunities to fulfil both my personal and professional aspirations in Australia, and I hope to help others achieve their goals as well.