Umidjon Khashimov FCCA
My biggest inspiration to pursue a career in financial services was the 2008 financial crisis and the brilliant professors at my university who broke down its underlying causes. This meant I wasn’t just studying theory - I was witnessing real-world events that shaped global markets and learning how and why they happened.
After graduating, I wanted a profession that would allow me to understand how a wide variety of businesses operate without having to specialize too early in my career. I chose audit because it offered exactly that environment. It gave me exposure not only to financial services but also to industries such as manufacturing, construction, and oil & gas, enabling me to broaden my perspective and develop a well-rounded understanding of different business models.
Fast forward to today, I focus on insurance audits at PKF Littlejohn, working with both underwriters and brokers. Auditing in the insurance industry is unique because of its complexity - covering areas such as actuarial estimates, reserves, and reinsurance - which makes the work both intellectually challenging and highly rewarding.
The industry is also heavily regulated and plays a critical role in financial stability. As an auditor, I find it professionally fulfilling to play a direct role in ensuring compliance with regulatory frameworks, thereby helping maintain trust and integrity in the market.
"I believe one of the greatest challenges facing finance professionals in audit today is adapting to the rapid integration of artificial intelligence and automation. While AI offers tremendous potential to enhance efficiency and accuracy, the real challenge lies in striking the right balance - leveraging these technologies while maintaining professional judgment and skepticism."
Auditors must develop new capabilities to operate AI tools, interpret AI-driven insights, ensure algorithmic transparency, and address ethical concerns such as data privacy and bias. The profession is shifting from traditional sampling to full-population testing powered by AI, which is exciting but demands a significant mindset shift, continuous learning, and strong governance to ensure technology enhances audit quality rather than replacing critical human oversight.
Across my insurance clients, the most discussed challenges include compliance with evolving regulatory and reporting frameworks, digital transformation, and increased exposure to growing cyber threats.
As auditors, we support our clients by helping interpret complex regulatory requirements and providing assurance over accurate reporting. We also evaluate controls around new technologies, advise on governance for AI and automation, and provide assurance over IT infrastructure and cybersecurity frameworks to help mitigate risk and strengthen resilience.
Outside of work, I love spending quality time with my family. We often go for nature walks or hikes in nearby parks, which helps us disconnect and enjoy the outdoors. At home, I enjoy DIY projects in my garden and playing LEGO with my daughters.
If I could offer one piece of advice to professionals in the financial services industry, it would be this: don’t fear automation or AI. Leverage technology to improve efficiency and accuracy, and use the time saved to focus on what truly adds value: professional judgment, critical thinking, and insightful analysis.
