Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

If only the CA title gives u prestige and additional pay… lol

I look at xiaomi/tiktok cfo & thought he did well

I really wonder if ISCA will approach Tiktok CEO Chew Shou Zi to ask him take SCAQ if they genuinely believe in the designation

I think end of the day

Govt really need to know whether SCAQ meets the needs of businesses in SG.

Most if not all companies will still hire the cheapest accounting staff to do the role or better yet, 2 or 3 accounts executive to do 1 CA SG role

If they need a scholar tier accountant, they will be better off asking for assistance from professional services firm instead as they are in a better position

Even if you are the purported superman accountant as advertised, companies will also seize the opportunity to increase your jobscope and workload to a saikang warrior

There was this MP who called for ‘cheaper, better & faster’

This translates the whole industry into what it is today and your career objectives

Originally Posted by DecorumEDMW

I think end of the day

Govt really need to know whether SCAQ meets the needs of businesses in SG.

Most if not all companies will still hire the cheapest accounting staff to do the role or better yet, 2 or 3 accounts executive to do 1 CA SG role

If they need a scholar tier accountant, they will be better off asking for assistance from professional services firm instead as they are in a better position

Even if you are the purported superman accountant as advertised, companies will also seize the opportunity to increase your jobscope and workload to a saikang warrior

Actually what's so difficult about SCAQ?

ACRA and ISCA are afraid that the shortage of auditors and accountants will lead to increased audit fees, translating to higher costs for businesses.

An audit firm might tell a client, "If you are not happy with our quotation, you can check with other audit firms." When the client approaches another firm, they will likely find that the price is roughly the same.

In essence, to get things done, you will need more money. We have reached a point where money is required to solve problems.

To address this, the first thing ACRA and ISCA need to do is stabilise audit fees and prevent them from continuing to rise due to the shortage of manpower.

Times have changed.

Clients need to understand the realities of the current audit industry landscape, where the shortage of auditors is a widespread issue affecting all firms.

Clients must adapt to auditors; it's not just auditors adapting to clients anymore.

Once a client has appointed an auditor, they must follow the auditor's instructions.

It doesn’t matter how much the client pays the auditor or if they decide to change auditors next year.

The auditor will complete the audit, but they need the client's cooperation to navigate these industry challenges.

So, it’s not just an auditor's problem; it’s also client's and regulator's problem.

Do you know what everyone fears?

Associates are afraid of handling more audit engagements.

Managers are afraid associates will resign.

Partners are afraid managers and associates will resign, leaving no manpower to serve clients.

Clients are afraid there will be no auditors to conduct their audits and that audit fees will increase.

Regulators are afraid no one will want to join the audit industry.

Originally Posted by Unregistered

Actually what's so difficult about SCAQ?

On behalf of Gen Z as well

1. Need work and study in own free time

1.1 Salary relating to the Profession should be very similar or more compared to law and medicine since its a qualification program.

1.2 Being a competitive industry, CA SG should tie up with MBA to offer an fast track MBA pathway so people can get both CA SG and fast track MBA.

2. The designation is CA SG which is same as those who have grandfathered. The old ones should have kept the CPA SG title in order to do the differentiation so the title for those who have done SCAQ is stronger

3. ATO concept very troublesome. Tough to resign in case of toxic firms (there are quite a number of toxic workplaces). Candidates should be allowed to transfer as many times as they need instead of being encouraged to stay

4. Alot of modules for local uni grads are repeated but its good that they finally realised, thus the exemptions

5. Candidates who take SCAQ should be explicitly banned from over time in order to facilitate WLB

Originally Posted by DecorumEDMW

On behalf of Gen Z as well

1. Need work and study in own free time

1.1 Salary relating to the Profession should be very similar or more compared to law and medicine since its a qualification program.

1.2 Being a competitive industry, CA SG should tie up with MBA to offer an fast track MBA pathway so people can get both CA SG and fast track MBA.

2. The designation is CA SG which is same as those who have grandfathered. The old ones should have kept the CPA SG title in order to do the differentiation so the title for those who have done SCAQ is stronger

3. ATO concept very troublesome. Tough to resign in case of toxic firms (there are quite a number of toxic workplaces). Candidates should be allowed to transfer as many times as they need instead of being encouraged to stay

4. Alot of modules for local uni grads are repeated but its good that they finally realised, thus the exemptions

5. Candidates who take SCAQ should be explicitly banned from over time in order to facilitate WLB

You speak for Gen Z?

Hi everyone, I am an audit manager and I realise that my salary is actually paid by audit associates who work hard for me.

Am I right to say the audit associates are paying me salaries?