Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

You have no relationship with your client.

You are an employee in an employee-employer contract.

Any disbursements is borne by your employer.

Can one

you want argue employee-employer contract.

Ok lor

Deduct $400 extension fee from your salary lor

Originally Posted by Unregistered

Can one

you want argue employee-employer contract.

Ok lor

Deduct $400 extension fee from your salary lor

There is no such policy in any of the B4 for employees to bear client's cost.

Please stop telling lies on the internet, and get a life.

Originally Posted by Unregistered

recently left, dont hate audit, dont hate the hours, hate the fact that management is doing nothing to maintain the quality of the profession. a lot of politcal bs at the very top.

senior partners got very little incentive to change status quo because any change affect their take home and they are about 5 years away from packing bag and retiring in their condo before taking on some AC / director roles. junior partners got to suck it up because their comp and bonus is all decided by senior partners exco.

all these salary raises to address the situation are done under the gun, basically milk spilt already then take cloth and wipe. audit standards are going down faster than double declining depreciation ever since covid.

4.1k starting pay got what use when ur MA outside paying 4.8 with i would say competitive progression for the first 5 years. all you get are the leftovers still, just that your leftover still slightly better quality. this is not withstanding that outside of audit the WLB is about 50% better at minimum.

even if say someone told me i guarantee become partner 8 years from now if i stayed, and i can earn 25k / month as a year 1 partner would i do it? probably not, because the 8 years are going to be like dragging my balls through glass. the intern of 3 years ago is better than the year 2 associate of today.

being a manager now is just the a sandwich position, ask u take a 1m port still u need to manage the partner, uphold the firm standards, make sure everything is prim and proper before send them for review at the same time hand hold the senior and staff. some seniors now cant even construct a proper english sentence, some cant even give basic JEs. but you cant do anything about it because press them too hard they look like they gonna break and fall apart, so you just "make do". few years ago u just need to catch up with the senior, give some guidance, good to go.

the ask of you vs the promised benefit is not worth the money, and im certain i dont need 25k a month to lead a good life. beyond 15k you honestly just want a crazy rich asian lifestyle. good luck to those who are still inside and gunning for partner, hats off for your resilience, probably easier to make it there now. but if you make partner you might be sweating buckets everytime you sign the FS.

I can understand the frustration and disillusionment you are feeling after leaving the audit profession. It’s clear that you have valid points about the issues within the management structure and the overall quality standards. However, I believe it’s crucial to address some aspects constructively and encourage open communication.

First, if you feel so strongly about the problems within the firm, why didn't you provide feedback to management? Constructive criticism from the ground up is vital for any organisation to improve. If management doesn’t know what’s going on at the operational level, how can they address these issues?

Your insights and experiences could have been invaluable in shaping better policies and practices. I get that it might feel like management isn’t listening, but change often starts with persistent voices willing to speak up. If you are introverted, find alternative ways to communicate such as through detailed emails, anonymous feedback, or even small group discussions. It’s about ensuring that your voice is heard.

Everyone has a part to play in maintaining the quality and standards of our profession. If we remain silent about the issues we face, we inadvertently become part of the problem. Instead of just walking away and venting your frustrations afterwards, take action while you are still within the system. Propose solutions, highlight the gaps, and collaborate with your peers to present a unified front. You might be surprised at the positive changes that can occur when management is made aware of the ground realities.

By choosing to leave without trying to address these issues, you are essentially running away from the problem rather than confronting it. It’s easy to point out flaws and then step back, but it takes courage and commitment to stay and work towards a solution. If everyone took the same approach, there would never be any progress or improvement in any organisation.

I hope you consider this perspective and realise the importance of open communication and feedback. It’s through collective effort and dialogue that we can hope to see meaningful changes in our profession.

Originally Posted by Unregistered

I can understand the frustration and disillusionment you are feeling after leaving the audit profession. It’s clear that you have valid points about the issues within the management structure and the overall quality standards. However, I believe it’s crucial to address some aspects constructively and encourage open communication.

First, if you feel so strongly about the problems within the firm, why didn't you provide feedback to management? Constructive criticism from the ground up is vital for any organisation to improve. If management doesn’t know what’s going on at the operational level, how can they address these issues?

Your insights and experiences could have been invaluable in shaping better policies and practices. I get that it might feel like management isn’t listening, but change often starts with persistent voices willing to speak up. If you are introverted, find alternative ways to communicate such as through detailed emails, anonymous feedback, or even small group discussions. It’s about ensuring that your voice is heard.

Everyone has a part to play in maintaining the quality and standards of our profession. If we remain silent about the issues we face, we inadvertently become part of the problem. Instead of just walking away and venting your frustrations afterwards, take action while you are still within the system. Propose solutions, highlight the gaps, and collaborate with your peers to present a unified front. You might be surprised at the positive changes that can occur when management is made aware of the ground realities.

By choosing to leave without trying to address these issues, you are essentially running away from the problem rather than confronting it. It’s easy to point out flaws and then step back, but it takes courage and commitment to stay and work towards a solution. If everyone took the same approach, there would never be any progress or improvement in any organisation.

I hope you consider this perspective and realise the importance of open communication and feedback. It’s through collective effort and dialogue that we can hope to see meaningful changes in our profession.

Why do you type like a ****ing university student writing an essay?

Originally Posted by Unregistered

Why do you type like a ****ing university student writing an essay?

To annoy people like you who can’t stand it.

Originally Posted by Unregistered

There is no such policy in any of the B4 for employees to bear client's cost.

Please stop telling lies on the internet, and get a life.

If audit manager in future suggested this policy leh

How?

Originally Posted by Unregistered

Why do you type like a ****ing university student writing an essay?

Cos he can't actually rebut any of the points the OP made. OP's points are real concrete points borne out of personal experiences and issues that every single auditor can see & experience on the ground everyday.

So all he can do is pad his reply with generic sounding points lor. Everything he wrote can be summarized as - "try to give open and constructive feedback to management to help improve the quality of life in the profession" .

Fat load of good that will do for the thousands of auditors wasting their lives grinding in this industry every day. As if B4 Management cares. You're all ants to them.

Any updates on this story?

-----------
://.ft.com/content/977d5856-c731-4882-8a99-9436e782161b

A former KPMG partner who went bankrupt after investing in French ski chalets is suing law firm Herbert Smith Freehills for allegedly causing him to lose his job by tipping off the accounting group about his debt problems when he asked for legal advice.

Graham Martin, a partner at KPMG Singapore, asked Herbert Smith to represent him in July 2017 after lenders secured a worldwide freezing order against him and sued for debts of £3.26mn linked to his investment in three chalets in Chamonix.

Martin has filed a £22mn legal claim against Herbert Smith in the High Court in London after it shared details of his risk of bankruptcy with KPMG — a client of the firm — which he alleges caused him to lose his job.

In court documents seen by the Financial Times, Martin said Herbert Smith had opted to “please and procure favour” with its long-term client KPMG “rather than comply with its duty of loyalty” to him. Martin accused Herbert Smith of breach of fiduciary duty, negligence and breach of confidence.

Herbert Smith, which turned over more than £1bn in the year ended April 2021, is among the largest international law firms based in London.

The firm said: “Mr Martin’s claim has no merit and the firm will defend it vigorously.” It will file its defence to the claim next month.

According to the claim, Martin hired Herbert Smith in a personal capacity in July 2017 to fight a legal action brought against him by lender Creditforce after he borrowed money to develop the chalets, which later contributed to his bankruptcy.

Martin, a restructuring adviser at KPMG Singapore, asked Herbert Smith partner John Corrie to defend him in a High Court hearing about the freezing order.

The lawsuit alleges Martin told Corrie he did not want KPMG to know about his financial situation until he had reached a settlement with Creditforce, but that on the same day that Martin sent him papers relating to his debts, Corrie told KPMG’s London office about his client’s debt problems and subsequently told them that the freezing order was in place.

KPMG then passed this information to its Singapore office, including the risk Martin would be made bankrupt.

Martin’s legal claim summarises Herbert Smith’s position as being*that Corrie explicitly received Martin’s consent to tell KPMG that the firm was intending to represent him regarding the debt issues — something Martin denies. Corrie is not named as a defendant in the case.

After KPMG Singapore was told about Martin’s financial situation, he was called into a series of meetings with the firm’s management, at which he requested time off, before he was stripped of his leadership positions, according to his claim.

Martin, who reached a settlement with Creditforce in this period, said he attempted suicide after being removed from his leadership roles.

He claims he was left with no option but to resign in February 2018 and that he could have kept his job if he had been able to break the news of his financial situation to KPMG himself after he reached a settlement with his lender.

He was subsequently made bankrupt in June 2018.

Originally Posted by Unregistered

Cos he can't actually rebut any of the points the OP made. OP's points are real concrete points borne out of personal experiences and issues that every single auditor can see & experience on the ground everyday.

So all he can do is pad his reply with generic sounding points lor. Everything he wrote can be summarized as - "try to give open and constructive feedback to management to help improve the quality of life in the profession" .

Fat load of good that will do for the thousands of auditors wasting their lives grinding in this industry every day. As if B4 Management cares. You're all ants to them.

Yea, ppl who say feedback to management lor clearly dont know any partners. Same reason why our ministers and those naive freshies wont accept a paycut - act blur live longer

If not happy with audit then quit. Stop complaining. If the MD or partner see such kind of remarks and attitude. Especially surf web during work hours.

This is horrible.

You are getting paid to do your work. Not complain. Trust in your manager and senior management.