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Q: Big4 - Yearly salary increment

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  #17161 (permalink)  
Old 25-05-2024, 09:02 PM
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Yes

Basically the Gen Z destroy the industry themselves

I guess ISCA and ACRA are begging the Big4 not to do that

Also in future there may be no internship opportunities
This is actually good. Audit or accountancy should go by 2030. Too many bs job adding no value. They shld just blockchain the process. Dont even need accountant.

Plus AI can get more data for decision making.. why still need CA to do non value added thing
Accountancy shld be scrap. Dun need accountant to make decision.. any well educated executive can do so. At best accountancy shld be a cca.

Alsp gg forward.. the sustainability reporting and assurance not even value adding. Another bs role or function that needs to go.

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  #17162 (permalink)  
Old 25-05-2024, 09:19 PM
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This is actually good. Audit or accountancy should go by 2030. Too many bs job adding no value. They shld just blockchain the process. Dont even need accountant.

Plus AI can get more data for decision making.. why still need CA to do non value added thing
Accountancy shld be scrap. Dun need accountant to make decision.. any well educated executive can do so. At best accountancy shld be a cca.

Alsp gg forward.. the sustainability reporting and assurance not even value adding. Another bs role or function that needs to go.
They should just deploy machine learning and generative artificial intelligence to replace.

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  #17163 (permalink)  
Old 25-05-2024, 09:39 PM
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They should just deploy machine learning and generative artificial intelligence to replace.
Too much bs from accting bodies.. they cant even sustain the workforce for accountancy.. now b4 wan teach ppl sustainability. What a joke.. dunno the investors are dumb?

Singapore market so small.. such reporting is useless..
why the investor need such info when it is common sense what the business is doing are causing harm to the environment. If really love to save the earth just ban company activities lo. Dumb profession?

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  #17164 (permalink)  
Old 25-05-2024, 10:34 PM
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This is actually good. Audit or accountancy should go by 2030. Too many bs job adding no value. They shld just blockchain the process. Dont even need accountant.

Plus AI can get more data for decision making.. why still need CA to do non value added thing
Accountancy shld be scrap. Dun need accountant to make decision.. any well educated executive can do so. At best accountancy shld be a cca.

Alsp gg forward.. the sustainability reporting and assurance not even value adding. Another bs role or function that needs to go.
blockchain the process... not possible

in this hypothetical blockchain process, who is going to host the nodes? is it 2 parties (auditor to 1 client) chain or multi party chain (auditor to many clients).

if its previous, how audit maintain all those chains?
if its latter, how audit ensure the single chain can be used by all parties?

and the whole purpose of having someone doing the accounts/audit is so that they can get sued when something goes wrong? until an AI software company is going to take the liability, this is never going to happen.
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  #17165 (permalink)  
Old 25-05-2024, 10:58 PM
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blockchain the process... not possible

in this hypothetical blockchain process, who is going to host the nodes? is it 2 parties (auditor to 1 client) chain or multi party chain (auditor to many clients).

if its previous, how audit maintain all those chains?
if its latter, how audit ensure the single chain can be used by all parties?

and the whole purpose of having someone doing the accounts/audit is so that they can get sued when something goes wrong? until an AI software company is going to take the liability, this is never going to happen.
Just parties involved in the transation. B2b b2c.
Auditors and accountant is not required here. This profession is just extra cost and irrelevant.

Something go wrong will be the parties involved in the transaction, the one approving the transaction.
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  #17166 (permalink)  
Old 25-05-2024, 10:59 PM
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I noticed the audit associates some haven't learn to walk and want to fly already
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  #17167 (permalink)  
Old 25-05-2024, 11:01 PM
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blockchain the process... not possible

in this hypothetical blockchain process, who is going to host the nodes? is it 2 parties (auditor to 1 client) chain or multi party chain (auditor to many clients).

if its previous, how audit maintain all those chains?
if its latter, how audit ensure the single chain can be used by all parties?

and the whole purpose of having someone doing the accounts/audit is so that they can get sued when something goes wrong? until an AI software company is going to take the liability, this is never going to happen.
It will happen. Technology is all about step by step progression. Even if they know the end game they will just make known the step 1 to profit more before going to step 2.
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  #17168 (permalink)  
Old 25-05-2024, 11:07 PM
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What's wrong with audit associate nowadays?

Haven't learnt to walk

Want to know how fly
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  #17169 (permalink)  
Old 25-05-2024, 11:27 PM
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What's wrong with audit associate nowadays?

Haven't learnt to walk

Want to know how fly
Cos the snr and mgr are useless and not helpful?
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  #17170 (permalink)  
Old 25-05-2024, 11:34 PM
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It will happen. Technology is all about step by step progression. Even if they know the end game they will just make known the step 1 to profit more before going to step 2.
I agree that technology will continue to evolve.

s://.isca.org.sg/resource-library/future-of-profession

Ernst & Young (EY) was commissioned by the Singapore Accountancy Commission (SAC), in collaboration with Workforce Singapore (WSG) and SkillsFuture Singapore (SSG), to conduct a study to evaluate the impact of key trends on manpower in Singapore-based accounting practices.

A significant proportion of job tasks will be automated by technology. Tasks will also be highly impacted by megatrends. Job role will likely be enlarged, reconfigured or enriched, and upskilling or reskilling is required
For example, AI & Analytics will assist Tax Associates to analyse large datasets and perform data sampling, estimation and extrapolation on tax computations. AI & Analytics will also assist Audit Associates in flagging anomalous transactions for practitioners to focus on investigations instead of manual checks, in a bid to increase productivity.

Upskilling in data analytics and AI application skills is required.

AUDIT SENIOR IS A 'HIGH' IMPACT ROLE.
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