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Last updated on 2024年5月28日

Here's how you can effectively respond to peer feedback in the accounting field.

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In the accounting field, peer feedback is an invaluable tool for professional growth. It can help you refine your skills, understand alternative perspectives, and enhance the quality of your work. When you receive feedback from colleagues, it's crucial to approach it with an open mind and a willingness to learn. Whether it's a suggestion on how to improve a financial report or advice on handling client relationships, responding effectively to peer feedback can lead to significant improvements in your performance and career development.

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CA Kunal Kedia FRM, IIMB

Risk & Underwriting I Policy & Portfolio Management I Product Management I Data Analytics & Digital Integration I…
Dr. Regina King'ori

Award Winning Financial Consultant | Founder and CEO | Tax & Audit Expert | Entrepreneur | Cheerleader of Dreams | Lead…
Meng Hock Tan ????

External Audit | Financial Reporting | Know Your Client Compliance | Big Four | Associate Member of the Institute of…

1 Listen Carefully

When receiving feedback, your first step is to listen actively and attentively. This means fully concentrating on what is being said, rather than formulating a response while your peer is still talking. By giving your full attention, you demonstrate respect for their perspective and ensure you understand the points being made. It's important to consider that feedback is often aimed at your work and not you personally. Keeping an objective view will help you focus on how you can improve specific aspects of your job performance.

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CA Kunal Kedia FRM, IIMB

Risk & Underwriting I Policy & Portfolio Management I Product Management I Data Analytics & Digital Integration I Business Rule Engine I Growth Strategy
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When it comes to feedback, general tendency is to counter even before the other person completes. What is key here is to be an active listener and be attentive to finer details. Feedbacks should be taken in right spirit to improve the quality of work and professional approach. An objective view will help focus and enable improvement in delivery and performance.

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Dr. Regina King'ori

Award Winning Financial Consultant | Founder and CEO | Tax & Audit Expert | Entrepreneur | Cheerleader of Dreams | Lead Mentor Skill-Up Mentorship Program
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Approach Feedback with an Open Mind An open mind allows you to receive feedback without bias, making it easier to see the value in others' perspectives. When receiving feedback, focus on listening rather than immediately defending your actions. Consider feedback as an opportunity for growth. For example, if a peer points out a recurring error in your reports, view it as a chance to improve your accuracy.

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2 Clarify Doubts

After listening, if anything is unclear, don't hesitate to ask for clarification. It's better to have a thorough understanding of the feedback than to make assumptions about what your colleague meant. This step is crucial because it shows that you are genuinely interested in improving and are engaged in the conversation. Clarifying doubts can also prevent misunderstandings that might lead to incorrect implementations of the feedback. Remember, seeking clarity is a sign of professionalism and shows your commitment to accuracy and excellence in accounting practices.

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CA Kunal Kedia FRM, IIMB

Risk & Underwriting I Policy & Portfolio Management I Product Management I Data Analytics & Digital Integration I Business Rule Engine I Growth Strategy
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It might be possible that what is being said may not be correct or the context it is being said is different that what is being understood. Hence it is important to take clarification for any doubt that may arise and act / respond accordingly. Seeking clarity will also help in clear understanding to achieve excellence and accuracy.

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3 Reflect Objectively

Take the time to reflect on the feedback you've received. This involves assessing the comments objectively and determining how they align with your own perceptions of your work. Consider how the feedback can be used to enhance your accounting processes or client interactions. It's essential to separate emotional reactions from practical considerations; while criticism can sometimes feel personal, it's often intended to help you grow professionally. Use this reflection as an opportunity to identify areas for improvement and develop a plan to address them.

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Meng Hock Tan ????

External Audit | Financial Reporting | Know Your Client Compliance | Big Four | Associate Member of the Institute of Singapore Chartered Accountants (ISCA)
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Feedback is always welcomed from managers, fellow teammates and clients, despite it is a criticism. Effective feedback, both positive and negative, is very helpful. Feedback is valuable information that will be used to make important decisions. If you realized, those top performing organizations, they always search for ways or welcome any feedback for consistently improving themselves to make them to be the top or most outstanding in the industry, beat out their competitors.

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4 Develop a Plan

Once you've reflected on the feedback, develop a plan to implement the suggestions. This might involve setting specific goals, adjusting your work methods, or seeking additional training in certain areas of accounting. Your plan should be actionable and measurable, allowing you to track your progress over time. By creating a structured approach to improving your skills based on the feedback, you show that you take your professional development seriously and are proactive about enhancing your capabilities as an accountant.

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Meng Hock Tan ????

External Audit | Financial Reporting | Know Your Client Compliance | Big Four | Associate Member of the Institute of Singapore Chartered Accountants (ISCA)
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After receiving any feedback from whoever, below are the five (5) tips on helping you to develop a plan to improve your work performance: 1. Just focus one task at a time - If you cannot do multitasking, then it is pointless as you cannot focus two or more tasks at one go. 2. Always stay organized - This means setting up your desk and file storage neatly, as well as computer's desktop and smartphone to help you work in the most productive manner. 3. Improve communication skills - Cross-functional collaboration is truly important to achieve the overall organizational goals. 4. Setting specific goals - It is something you must work towards achieving them. 5. Use a Gantt chart to track your own progress.

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5 Communicate Progress

It's important to communicate with your peers about the steps you're taking in response to their feedback. This demonstrates that you value their input and are committed to making changes based on their suggestions. Share updates on your progress and any improvements you've noticed since implementing the feedback. Open communication also encourages a culture of constructive feedback within your team, which can lead to ongoing improvements for everyone involved.

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6 Maintain Professionalism

Throughout the process of receiving and responding to peer feedback, always maintain professionalism. This means expressing gratitude for the insights provided, even if some of the feedback may be challenging to hear. Professionalism also involves showing courtesy and respect during conversations and in your follow-up actions. By maintaining a professional demeanor, you foster a positive working environment and set a good example for others in the accounting field.

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CA Kunal Kedia FRM, IIMB

Risk & Underwriting I Policy & Portfolio Management I Product Management I Data Analytics & Digital Integration I Business Rule Engine I Growth Strategy
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Professionalism is key aspect in any field be it hearing or talking. While receiving or responding to peer feedback there may be situations where something gets directed towards oneself, which may or may not be intentional. Such situations to be dealt with in a professional way with courtesy, respect and politely. This will set an example and foster a positive environment.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Here's how you can effectively respond to peer feedback in the accounting field.

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1 Listen Carefully

2 Clarify Doubts

3 Reflect Objectively

4 Develop a Plan

5 Communicate Progress

6 Maintain Professionalism

7 Here’s what else to consider

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