Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

At the junior level, the workload is heavy but work is not complex.

Client got cash? Send a bank confirmation.
Got receivables? Send AR confirmation and Check subsequent receipts after year end.
Inventory? Go stock take and count quantities. Costing done by senior no need care. Best case scenario is external warehouse, just get confirmation.
Deposits and prepayments? Sight to deposit and agreement. Prepayment is simple secondary school math to prorate period lapsed vs period remaining.
Fixed assets? Depreciation is basic math. Addition and Disposal just vouching work. Asset sighting also easy, walk around with client tick tick confirm asset number and existence only.

Audit very hard meh? Honestly polytechnic student also can do A1 work.

When does one begin helping out with equity changes, forex and consolidation? Basically all the group accounting stuff?

For tax, just pass to the big 4 tax agent is it

Originally Posted by Unregistered

At the junior level, the workload is heavy but work is not complex.

Client got cash? Send a bank confirmation.
Got receivables? Send AR confirmation and Check subsequent receipts after year end.
Inventory? Go stock take and count quantities. Costing done by senior no need care. Best case scenario is external warehouse, just get confirmation.
Deposits and prepayments? Sight to deposit and agreement. Prepayment is simple secondary school math to prorate period lapsed vs period remaining.
Fixed assets? Depreciation is basic math. Addition and Disposal just vouching work. Asset sighting also easy, walk around with client tick tick confirm asset number and existence only.

Audit very hard meh? Honestly polytechnic student also can do A1 work.

What about test of internal control?

What you mentioned are just substantive testing.

NTU/NUS/SMU graduates usually work in Big4 1 to 3 years jump to commercial or bank liao. The future there so much brighter.

Only those private uni, ACCA, malaysian folks still working in audit industry and waiting for yearly increment.

Hard is not hard. But in audit industry, even audit partner find it difficult to justify their time cost and billable hours.

Anyone knows if life at IT Audit is better than regular Audit? Does manager there earn the same pay as regular audit ?

Originally Posted by Unregistered

When does one begin helping out with equity changes, forex and consolidation? Basically all the group accounting stuff?

For tax, just pass to the big 4 tax agent is it

Usually at s1. Do conso, multiloc, ac slides etc etc

Originally Posted by Unregistered

When does one begin helping out with equity changes, forex and consolidation? Basically all the group accounting stuff?

For tax, just pass to the big 4 tax agent is it

Equity - if it is just opening + PL - Dividend = Ending, then A1.

Forex - not sure what you mean. If translation of balance sheet, should be A2 doing the AR and AP.

Consol I never touched, usually 4th year but most people leave after 3rd year.

Originally Posted by Unregistered

What about test of internal control?

What you mentioned are just substantive testing.

NTU/NUS/SMU graduates usually work in Big4 1 to 3 years jump to commercial or bank liao. The future there so much brighter.

Only those private uni, ACCA, malaysian folks still working in audit industry and waiting for yearly increment.

Hard is not hard. But in audit industry, even audit partner find it difficult to justify their time cost and billable hours.

Controls not done by juniors. Usually done by seniors.

At most I help to retrieve the documents from the files for my seniors only.

Originally Posted by Unregistered

Anyone knows if life at IT Audit is better than regular Audit? Does manager there earn the same pay as regular audit ?

I suspect they earn more but it’s not worthwhile.

You need to know IT and Audit to do the job.

But you can earn so much more venturing into IT instead.

Originally Posted by Unregistered

Controls not done by juniors. Usually done by seniors.

At most I help to retrieve the documents from the files for my seniors only.

Which firm Ure from? toc are mostly done by juniors leh

Originally Posted by Unregistered

Controls not done by juniors. Usually done by seniors.

At most I help to retrieve the documents from the files for my seniors only.

1 year honeymoon period over soon

you will be senior soon

by then either u resign or continue to do audit

Originally Posted by Unregistered

Which firm Ure from? toc are mostly done by juniors leh

The one known for welfare.

I’m leaving office now.