SUCCESS STORIES – CA HASMUKH SHAH

THE JOURNEY MATTERS: LESSONS FROM FOUR DECADES IN THE PROFESSION

When I look back at more than four decades in the profession, I realise my journey has been shaped less by a fixed plan and more by a willingness to learn, adapt, take responsibility and move forward. I had a humble beginning and qualified as a Chartered Accountant at 21 in 1985. My practice grew into Hasmukh Shah & Co. (HSCo), which today has 100+ team members, 8 partners and over 2,000 clients, including multinational organisations from 15+ countries, with a presence across five Indian cities and network partners in New York, London and Singapore. Yet, the journey itself has been my greatest teacher.

Stay Open to Possibilities

Early in my career, I developed a simple philosophy: do not close a door before understanding what is behind it. I approached new responsibilities with an open mind, remained willing to learn and tried to help whenever someone needed support. Many unplanned experiences became important parts of my journey. Being open does not mean saying yes to everything; it means exploring before forming an opinion, understanding before rejecting and taking considered decisions. For young CAs, exposure to different assignments, industries, people and challenges builds perspective that no textbook can provide.

Keep Reinventing Yourself

The CA profession has changed enormously since I began. Today, technology, automation, cloud platforms, data and AI are integral to our environment. I have always believed that a professional cannot remain relevant by standing still. My own learning continued beyond CA: I pursued LL.B. and Company Secretary, completed my CPA from the USA in 2004, and ACA from the UK in 2024. As technology evolved, HSCo also changed how we maintained accounts, conducted audits, communicated with clients and delivered services. The objective was always to serve clients better and prepare for the future. My advice: don’t just keep up with change; develop the habit of anticipating it.

In a Digital World, Remain Human

This is perhaps the lesson closest to my heart. Over four decades, I have built relationships with clients, colleagues, partners, students, professionals, friends and well-wishers, many lasting for decades. Today we are more connected than ever through WhatsApp, email, LinkedIn and other platforms, but digital connection does not necessarily mean human connection. A contact is not necessarily a relationship. Relationships are built through trust, respect, listening, empathy and being there for people. I believe this becomes even more important in the age of AI. AI can process information and improve efficiency, but human judgement, empathy, encouragement and genuine relationships cannot be reduced to an algorithm. Technology can increase our reach; humanity determines our impact.

Play the Long Game

We live in an age of immediacy, but a career is not built instantly. Expertise, reputation and trust take time, and so does building an organisation. HSCo has been built over decades, one client, relationship, team member and decision at a time. There have been successes and difficult periods, and I have learnt that short-term setbacks should not change a long-term direction. Young CAs should have ambition, but not let impatience dictate their decisions. Ask not only, “What will I get immediately?” but also, “What am I building over the next 10 or 20 years?” Invest in knowledge, credibility, relationships and people. The rewards of a long career compound over time.

Use AI. But Keep Your Curiosity Alive.

Artificial Intelligence will transform our profession. My advice is simple: use it, experiment with it, learn it and challenge it — but do not surrender your thinking to it. If AI gives you an answer, ask: Is it correct? Why is it saying this? What could it be missing? Can I look at the problem differently? The professionals who create the greatest value will combine AI with professional judgement, curiosity, creativity and experience. Use technology to become more efficient, but use your own thinking to become more valuable. Never stop asking “Why?”

Success Is Also About What You Give Back

Professional success is not only about what we build for ourselves, but also what we help others build. Training and mentoring young professionals has been an important part of my journey. More than 100 students have undergone training with us with the objective of pursuing the CA profession. I believe knowledge becomes more meaningful when shared. If someone becomes a better professional because of what they learnt during their association with me, that gives me satisfaction beyond any business achievement. Helping someone see an opportunity or gain confidence to take the next step is also a meaningful contribution.

A Few Words to the Young CA

Stay focused, but remain open-minded. Be ambitious, but be patient. Keep learning. Embrace technology, but question it. Use AI, but don’t let it replace your curiosity or judgement. Build your network, but more importantly, build relationships. Above all, remain grounded and maintain your integrity.

Your qualifications may get you your first opportunity and your knowledge may help you succeed, but over the long term, your character, relationships, adaptability and reputation will define your journey. After more than 40 years, I still consider myself a student of the profession. There is still more to learn, new technology to understand, new people to meet and new ways to contribute. Perhaps that is the most important lesson: you don’t really reach the end of the journey. You keep learning, keep adapting, keep contributing and keep moving forward.

[ The author can be reached at hasmukh.shah@hscollp.in]