Thankachan’s Personal Life & Company Life
The Worlds Times: Explain your background and Hussain Al Shemsi Chartered Accountants (HALSCA) in detail.
Thankachan Mandapathil: Hussain Al Shemsi Chartered Accountants (HALSCA), is a respected and approved Accounting and Auditing firm based in the UAE having offices in Dubai, Sharjah, Ajman and various UAE Free Zones. Established in 2007, firm specializes in delivering services like Auditing, Accounting, Consulting, Tax, Advisory, and Industry reviews to a diverse range of businesses, both private and public sector. Our team of dedicated professionals, including experienced Chartered Accountants, is equipped with the skills and expertise needed to understand and address the unique financial needs of each client.
The Worlds Times: Give us one word that describes you the best.
Thankachan Mandapathil: ‘Assurance’
The Worlds Times: Why did you start “HALSCA”?
Thankachan Mandapathil: I thought of sharing the vast knowledge I gained to the business people and their employees, like giving something back to the society as my passion.
Strengths & Goals
The Worlds Times: What are your goals?
Thankachan Mandapathil: At Hussain Al Shemsi Chartered Accountants, we emphasize commitment and integrity, aiming for client success. We collaborate closely to overcome even the toughest business challenges. Our services cater to various industries such as Shipping, Automotive, Engineering, Education, Trading, Manufacturing, Hotels, Hospitals, Medical, and Real Estate, among others. As an IR Global Member Firm, we integrate top international insights to keep our clients at the forefront of innovation.
We are committed to educating clients about changes in accounting standards, regulations, and best practices to ensure clients’ understanding and compliance.
We are committed to providing high-quality audit services that enhance financial reporting reliability and instill confidence in financial markets. They invest in training, technology, and methodologies to ensure the accuracy and reliability of their work.
The Worlds Times: What do you feel is the biggest strength of “HALSCA” right now?
Thankachan Mandapathil: Professional Expertise: Our team includes experienced professionals with diverse qualifications, such as CA, CPA, ACCA, CMA, M Phil, MBA, and M Com.
Wide Range of Services: We offer a comprehensive suite of services, including Audit and Assurance, Bookkeeping and Accounting, Consultancy and Advisory, and more.
Innovative Solutions: HALSCA assists in various areas like Business Health Checks, Corporate Advisory, Business Valuation, Tax Accounting Assistance, and Technology Advisory.
Global Network: Being a part of IR Global, Hussain Al Shemsi Chartered Accountants benefits from a vast network of top-tier firms across 163 jurisdictions and 63 practice areas, ensuring we provide tailored advice to meet complex client needs.
Path Took by Thankachan Mandapathil
The Worlds Times: What was the path you took to get to where you are today?
Thankachan Mandapathil: When I passed 10th Std, my mother’s friend Sr. Elsina told me to become an auditor. I was not aware of what is auditing at that time. My intention was to become a chemistry teacher. Then my father guided me to take commerce for plus two. After B.Com my uncle Fr. Chemplany helped me to get a right place to start my CA training with Luke & Company in Kozhikode. I can say my father inspired me to become a CA.
I started Audit firm at the age of 24 immediately after my CA without having proper feasibility studies. After one year I came to UAE as an internal auditor and later joined United Arab Shipping Company (UASC) and where I worked for 26+ years. Gained vast knowledge and experience from UASC by working under various departments like Operations, Pricing, Legal, Accounts, Finance, Budget, Audit, Tax, Corporate purchase, various committees, ERP implementation etc. Also visited 50+ countries part of my business and regularly interacted with 100+ nationalities, negotiating with various ports and terminals worldwide. I enjoyed learning from 100s of visionaries I met during this journey.
Challenges faced by Thankachan Mandapathil
The Worlds Times: What have been the biggest challenges you’ve had to overcome during the journey of your leadership?
Thankachan Mandapathil: Change Management: Leading through times of change, whether it’s organizational restructuring, adopting new technologies, or responding to external disruptions, requires skill in managing resistance, motivating teams, and guiding the transition.
Managing Conflict: Conflict is inevitable in any group. Leaders need to address conflicts in a constructive manner, fostering resolution and maintaining a positive working environment.
Adaptability: The business landscape is constantly evolving. Leaders need to be adaptable and open to new ideas, technologies, and market trends to stay relevant and successful.
Building and Managing Teams: Hiring the right people, creating a diverse and inclusive team, and fostering collaboration while managing conflicts and maintaining productivity can be challenging aspects of leadership.
The Worlds Times: What are the key values which helped you to overcome the challenges in your path? Tell us something about your memorable incident in your leadership?
Thankachan Mandapathil: The ability to bounce back from setbacks, failures, and adversity is crucial. Resilience enables individuals to maintain a positive attitude and keep moving forward, even in the face of difficulties.
Being flexible and open to change allows individuals to adjust their strategies and approaches when faced with unexpected situations or shifting circumstances.
Maintaining a positive outlook can influence how challenges are perceived and tackled. A positive attitude can foster creative problem-solving and resilience.
Being resourceful means finding innovative solutions and making the most of available resources, even in situations where resources are limited.
Understanding the perspectives and emotions of others can lead to better collaboration and problem-solving. Empathy helps build strong relationships and support networks.
Embracing a mindset of continuous learning and growth enables individuals to acquire new skills and knowledge that can be applied to overcome challenges.
Strategies & Vision of “HALSCA”
The Worlds Times: What do you value the most about “HALSCA” vision?
Thankachan Mandapathil: Let business grows systematically and no legitimate business should die due to want of right direction on time.
We are committed to upholding high ethical standards and maintaining the integrity of financial reporting. This involves adhering to professional codes of conduct, ensuring independence in audits, and promoting honest and transparent business practices.
The Worlds Times: What are the strategies of “HALSCA” and how do you stand unique from your competitors?
Thankachan Mandapathil: Deliver a thrilling experience to customers through disciplined processes that generate greater profit maximization opportunities. Free up the entrepreneurs’ mind to have new ideas without losing the control.
We specialize in serving specific industries or niches, such as shipping, logistics, transport etc. We embrace cutting-edge technologies, such as cloud-based accounting software, data analytics, and artificial intelligence and such technology adoption also enhances client communication and collaboration.
Focusing on exceptional client service set us apart from others. This involves understanding clients’ business goals, offering personalized solutions, and maintaining strong communication to build long-lasting relationships.
Beyond traditional accounting and tax services, we offer value-added services like business advisory, financial planning, and risk management. Providing holistic solutions that address clients’ broader financial needs can be a key differentiator.
Emphasizing transparent pricing, clear communication, and proactive updates enhances client trust and satisfaction. Clients appreciate being informed about the status of their finances and any changes in regulations that might affect them.
We establish ourselves as thought leaders in the industry by publishing articles, hosting webinars, speaking at conferences, and participating in public discussions and gain credibility and attract a loyal following.
Offering a variety of service packages and pricing models to cater to businesses of different sizes and stages can attract a wider range of clients.
Providing educational resources, workshops, and training sessions to clients to help them better understand financial concepts and best practices, strengthening the client-firm relationship.
Focusing on continuous training and professional development for employees which lead to a skilled and knowledgeable workforce, which can translate into better client service.
Future of “HALSCA” by Thankachan Mandapathil
The Worlds Times: How do you see “HALSCA” changing in two years, and how do you see yourself creating that change?
Thankachan Mandapathil: Reaching the hearts of business owners and employees through:
- Making businessmen free to do more business by taking their headache from accounts, finance, compliance etc.
- Slowly making clients disciplined, systematic and leading them to automate areas possible and embrace technology.
- Avoiding difficult jargons, we talk to the clients in their language.
- Empowering the employees with right insight and direction.
- Increased Use of Technology and expanded scope of services with Quality and Value Proposition.
- Prioritizing diversity in teams and leadership to bring varied perspectives to the table.
The Worlds Times: What benefits are clients getting from “HALSCA” in this competitive world?
Thankachan Mandapathil: A Businesses person knows how to do the business and we help them to do it better. We love to free up the mind of business man to have more business ideas rather than them focusing on accounts, finance, compliance, performance etc. We do company’s health check and give proper advice to overcome the issues if any found. We help clients’ accountants’ from ‘number crunchers’ to ‘professional communicators’.
We add credibility to a company’s financial statements. This credibility is crucial for building trust among investors, creditors, stakeholders, and regulatory bodies.
We help clients navigate complex regulatory environments by ensuring compliance with applicable accounting standards, industry regulations, and legal requirements. This minimizes the risk of penalties and legal disputes.
Transparent financial reporting and reliable audits can attract investors who value accurate and trustworthy information when making investment decisions.
we assess a company’s internal controls and risk management processes. This identification of potential risks allows clients to take proactive steps to mitigate those risks and improve overall business operations.
Through the audit process, we provide insights into the efficiency and effectiveness of a client’s internal processes. This can lead to recommendations for improvements, streamlining operations and reducing costs.
Accurate financial information provided through audits helps management make informed strategic decisions based on a clear understanding of the company’s financial health.
We provide insights into how a company’s financial performance compares to industry benchmarks, helping clients gauge their competitive positioning.
Audit findings and recommendations can inform a company’s strategic planning by highlighting areas that need attention or improvement.
Advice from Thankachan Mandapathil
The Worlds Times: Would you like to say anything else to our viewers?
Thankachan Mandapathil: I love the quote of Mother Theresa. She said “Let no one ever come to you without leaving better and happier”. I.e., whoever comes to you should leave with more joy and happiness.
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