Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

The audit associates and audit seniors are talking among themselves that the audit partners are not doing much work in the firm. Is that true?

Let us know when u hit P.

Partner daily schedules are super pack.

Do you think they have ntg to do?

U wont be free/ntg to do when you are drawing high salary.

Be it audit partner/cfo/svp/md

Wake up boys

Originally Posted by Unregistered

Let us know when u hit P.

Partner daily schedules are super pack.

Do you think they have ntg to do?

U wont be free/ntg to do when you are drawing high salary.

Be it audit partner/cfo/svp/md

Wake up boys

I thought they should be in office reviewing the audit files?

Originally Posted by Unregistered

Not OP but similar situation, they just said "no people, we're trying" for the umpteenth time for months. Too bad we aren't allowed to borrow associates and seniors from other departments.

If you're wondering why we aren't actually recruiting, it's because we're projecting low attrition (super LOL considering I already have 5 resignations this week) and much fewer projects (that guy who said mid tier won a number of our contracts got it right). Based on the interns, >90% are not planning to return and our associates are already going for interviews elsewhere.

Now is the time to take a career break if you've been looking for one... I'll be going to because it's impossible to attend interviews with the current schedule of holding 7 engagements at once.

Dont be suprise attrition in midtier (rsm/bdo/mazars) are better than big4 , as the bosses care abt staffs , pay these day already on par.

Maybe only key difference now is the “branding”

Originally Posted by Unregistered

If the audit manager don't feel like take over and purposely drag the case until he resigned, how?

Client pay fine to acra/iras.

Next yr dont seek reappointment and change firm. Thats it

Is never auditor faults if it is late

Originally Posted by Unregistered

Anyone here is audit manager feels that the technical knowledge of audit partner totally cannot make it?

They seem like more primary school kids or newbie like fresh graduates?

They might be outdated on some areas , as there are so many significant changes in key frs like 116/115/109, but they definitely know what they are doing, just that they might have a lot engagements thus, u might feel he dont know the issue in your job ( as they rely on managers as gate keeper a lot , and also technical team)

Trust me ; there are a lot of ppl still clueless abt ecl frs109, especially interco receivable ecl assessments, and there is no template for this. Haha

Originally Posted by Unregistered

Yeah I highlighted to partner and recruitment team

They say is because audit senior and associate cannot take my bad temper.

All quitted after a few months

They afraid I caused them losing employees

What make you have the privilege to pass your bad temper to staffs?

Do you think you are god? Haha

Be humble and learn from each other , dont micro /work tgt to solve issue with staffs/ handson on complicated issues/ dont only wait staffs to feed you solutions/workdone, then only you can motivate ppl to work for you

Originally Posted by Unregistered

I thought they should be in office reviewing the audit files?

Review files awp
Review non standard inclusions reports for other engagements( cross partner)
Review technical memo/ partner for eqcr/ second partner for list co
Review client risk assessment /approve onboarding
Prepare and attend frsc meeting ( to provide input and guidance for the industry)
Management meeting/ budgeting
Discussion/meeting with client
Sign fs
Review fs
Arrange/assign portfolios (200 entity maybe?) average partner are holding 2-3m port

They need to key in timesheet more accurate than anyone else in engagement as they have highest chargeout rate and need to hit min hours of involvement in each of the engagement based on firm methodology.

Come again if u think they are nt busy

Originally Posted by Unregistered

Review files awp
Review non standard inclusions reports for other engagements( cross partner)
Review technical memo/ partner for eqcr/ second partner for list co
Review client risk assessment /approve onboarding
Prepare and attend frsc meeting ( to provide input and guidance for the industry)
Management meeting/ budgeting
Discussion/meeting with client
Sign fs
Review fs
Arrange/assign portfolios (200 entity maybe?) average partner are holding 2-3m port

They need to key in timesheet more accurate than anyone else in engagement as they have highest chargeout rate and need to hit min hours of involvement in each of the engagement based on firm methodology.

Come again if u think they are nt busy

Continue for the list.

With the ssqm effective last year ,it is even more stricter to onboard new client.
And acra inspection visit to review files are more frequent these day.

Originally Posted by Unregistered

Review files awp
Review non standard inclusions reports for other engagements( cross partner)
Review technical memo/ partner for eqcr/ second partner for list co
Review client risk assessment /approve onboarding
Prepare and attend frsc meeting ( to provide input and guidance for the industry)
Management meeting/ budgeting
Discussion/meeting with client
Sign fs
Review fs
Arrange/assign portfolios (200 entity maybe?) average partner are holding 2-3m port

They need to key in timesheet more accurate than anyone else in engagement as they have highest chargeout rate and need to hit min hours of involvement in each of the engagement based on firm methodology.

Come again if u think they are nt busy

You will know all these when your lunch kaki are partners

The obvious answer is Associates and Seniors are too low on the ladder to have any visibility what the partners do, and may hence have the wrong impression “they dun do much” since they don’t even see them around.