Quote:
Originally Posted by Unregistered
audit used to pay people with dignity but recently the bar to enter keep getting lower and ppl keep undercut each other to get clients/job so ppl are willing to do audit for lower audit fee and <2.5k per month salary.
Hence, this profession become like a commodity alr
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But companies fail to know that lower audit fees = cheaper manpower + budget.
This will lead to poor audit quality. Then result in audit failure.
The another reason why big4 scandal is so common is because of the employees are not going a good job. I personally saw my assistant not vouching the invoices (when i was an intern). She did have double engagement. Too busy. But i cant voice anything because my internship grade is dependent on them. If i get a B on internship. i can say bye bye to local uni.
Instead of double book, big4 should mandate single bookings so that auditors can solely focus on one company at a time. In addition, they shud raise the audit fees to have better budget too.
Raising the bar to enter shud be done. I do agree last time big4 is so well known and looked up upon. But, not now. All the smart people are avoiding big4. why? because they can get better opportunities elsewhr.
Malaysians love big4 in sg coz their 3.5k is tripled. They are willing to do it. But the thing is their knowledge is damn poor. Noob auditors audit companies are bound to have audit failures.