Originally Posted by Unregistered (Post 253909)

This stems from a few key factors:

1. Until a few years ago. Getting into accounting was hard. It was a min AAA/B course. However, because of this lack of interest and what not our dear NBS has tanked to a BBC/C or some **** course that everyone can get in. This degrades the local prestige and has affected the quality of local graduates.

2. Pay in the industry was stagnant at 3 for a good amount of time for a course that takes in AAA/B students. This is why theres a ton of complaints. However, the current starting is suitable for rubbish BBC/C students. Hence I would say it is reasonable because that is the skill level they are paying for.

3. The complaint comes from those who are better performing but also forced to join this stupid system of low pay, long hours with no promise of reward. This is a negative cycle that discourages good students from joining acc and as a result reduce the amount of good people in the profession and naturally, the quality of work.

So yes, 4k for scrubs to do work monkey can do is alright. But we dont want to be a profession that does things even monkeys can do. But in order for us to improve, it becomes a chicken and egg problem. Raise salaries > entice more ppl to join > quality improve. But the first thing that needs to be done is raise salaries for these monkeys before it can attract better people.

Originally Posted by Unregistered (Post 253909)

So yes, 4k for scrubs to do work monkey can do is alright. But we dont want to be a profession that does things even monkeys can do. But in order for us to improve, it becomes a chicken and egg problem. Raise salaries > entice more ppl to join > quality improve. But the first thing that needs to be done is raise salaries for these monkeys before it can attract better people.

Originally Posted by Unregistered (Post 253932)

Not possible. This is structural in nature, due to the mandatory and backward looking nature of audit work. It is not advisory or value creative. It is there to tick a regulatory checkbox.

The only way to increase margins for the top earners is to keep the cost of services low. That means auditors' pay.

Other professional services charge based on percentage of transaction value, or unit of time cost. Clients are willing to pay for these, because the end product is bespoke, unlike audit services, which is commoditized.

If you hire a lawyer to solve a legal trouble, you hope for some favourable outcome but you never know what it will really be. Same with consulting. Hence, there's bargaining power on the service provider's part. But if you hire an auditor, you know and expect exactly what product or outcome he's supposed to deliver. The bargaining power is on service purchaser's part.

Big4 engagement fees are stuck in a weird place because there's external pressure on overall audit fees, and internal pressure to keep cost low.

Originally Posted by Unregistered (Post 253934)

why talk until like big 4 owe you a job? Now the big 4 partners are talking about offshoring like using resources from manila,india,sri lanka

Originally Posted by Unregistered (Post 253935)

Statutory audit is not the only thing that big4 does. you know that right?

Originally Posted by Unregistered (Post 253934)

why talk until like big 4 owe you a job? Now the big 4 partners are talking about offshoring like using resources from manila,india,sri lanka

Originally Posted by Unregistered (Post 253935)

Statutory audit is not the only thing that big4 does. you know that right?

Originally Posted by Unregistered (Post 253776)

The number of malaysians in big 4 really a lot. No wonder prestige of audit plummeted so badly over 20 years.

Last time parents are super proud that their son or daughter work in EY, KPMG etc

Now its like, why you so stupid work in these kid of low pay long hours jobs. Especially when they compare with their nieces and nephews work in big mnc and tech companies with good life so eng still high pay plus all the work life balance, diversity inclusion etc etc. While Big 4 still very old school tekan junior style.

Originally Posted by Unregistered (Post 253915)

wah in big 4? really? im interested