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Q: Big4 - Yearly salary increment

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  #14581 (permalink)  
Old 20-02-2024, 09:26 PM
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Auditor-in-charge fall in

How many audit engagement you have now at this point in time?

How many audit samples you have now?
no cap only need 3 samples.

But waited 4 hours today to get 1 of them.

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  #14582 (permalink)  
Old 21-02-2024, 11:17 AM
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Hahaha. Walkthrough + TOc + alternative procedure + datanalytics will lower the samples to be vouch.

Maybe he/she still student trolling
This is real depending on engagement. For some audit of funds it requires 100% vouching. Number of samples can really reach hundreds. Every kp person should know

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  #14583 (permalink)  
Old 21-02-2024, 12:28 PM
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This is real depending on engagement. For some audit of funds it requires 100% vouching. Number of samples can really reach hundreds. Every kp person should know
I am the original poster of the above post, i am sharing my experience from General audit perspective.

Financial services audit might have different requirement, however i believe every firm methodology have capped on the samples. Eg 150-200samples ( and also depending on the types/nature of the transaction (recurring similar transactions, etc)

The chance for your to found issues are low if the transactions are consistent and recurring similar, that why some rely on the data analytics of the trends of the transaction

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  #14584 (permalink)  
Old 21-02-2024, 12:33 PM
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I feel like the longer ppl stays in audit the more delulu they get. They can come out with 1000 reasons on why staying in audit is better than commercial and how commercial is bad when their only first job straight out of school a decade ago is audit. Own self never experience the world outside but can talk dragon talk tiger. lol.
They are at their comfort zone, and they are pro/ok with the audit workloads
Why would they rock their own boat?

Different folk’s different view
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  #14585 (permalink)  
Old 21-02-2024, 12:39 PM
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Yeah but audit background is more or less an unwritten pre-requisite if you want to become CFO in commercial later on. So if you want to become a CFO of a public listed company or most MNC then you will need to grind in audit of a big 4 for 3-5 years before moving to commercial.
Really?

Please read more about the background of the CFOs for the listed co in the annual report

Majority are not from audit i believe.

Dont think the latest SMRT CFO are from audit.
Same goes to ST CFO, and the many more,

Only a handful of those audit SM/M who helped the co to go IPO, usually then will jump over as FC/CFO.

If you are capable and have luck, you will progress equally/faster than for those in audit.
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  #14586 (permalink)  
Old 21-02-2024, 01:01 PM
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Really?

Please read more about the background of the CFOs for the listed co in the annual report

Majority are not from audit i believe.

Dont think the latest SMRT CFO are from audit.
Same goes to ST CFO, and the many more,

Only a handful of those audit SM/M who helped the co to go IPO, usually then will jump over as FC/CFO.

If you are capable and have luck, you will progress equally/faster than for those in audit.
Honestly a lot of FP&A and CFOs are from IB background too these days. Everyone wants a slice of that cozy WLB roles since IB is going slightly downhill so exit competition for auditors is worse now.
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  #14587 (permalink)  
Old 21-02-2024, 03:03 PM
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Hi guys, I am in Tuas now

Left 234 samples and cannot finish vouching

What should I do now?
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  #14588 (permalink)  
Old 21-02-2024, 03:17 PM
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Honestly a lot of FP&A and CFOs are from IB background too these days. Everyone wants a slice of that cozy WLB roles since IB is going slightly downhill so exit competition for auditors is worse now.
data analysts these days are joining FP&A too... entry level tech job market is so competitive until they're looking out to other lines... really so many people snatching up accounting grads' rice bowl
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  #14589 (permalink)  
Old 21-02-2024, 04:09 PM
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received an offer of 4k from Deloitte FAS as a fresh grad. negotiable?
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  #14590 (permalink)  
Old 21-02-2024, 05:00 PM
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received an offer of 4k from Deloitte FAS as a fresh grad. negotiable?
big 4 paygrade is fixed unless you're a partner. who is spreading the myth that it is? i'm genuinely curious because i've gotten this question in person so many times already for the past few months too.

what do you want to negotiate anyway? benefits is per firm policy and pay is per paygrade for each rank.
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