Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

One new chiobu associate is working under me. Should I treat her leniently since there are fewer chiobus in audit now

Bro dont bother

No one leaves audit as chiobu

Ive seen auditors with bad breath , crumpled shirts, food stuck in mouth, long nose hair because insufficient time for personal grooming

just nice for me to invite them to go Halloween party end of the month

Originally Posted by Unregistered

One new chiobu associate is working under me. Should I treat her leniently since there are fewer chiobus in audit now

Treat her well and dun stress her out so that she maintain her chio slim figure. Enough dino bus in audit already

the longer u wait in big 4 the harder it is for u to find some legit commercial accounting position without being lowballed. this industry is dominated by middle age auntie and uncles who may not even have a degree, forget abt CPA/CA. chances are most SMEs rather hire a 5k per month 8YOE auntie accountant as compared to ex-auditor. 1st they cant afford u, 2nd as compared to these laoniao, u more likely to jump again as u want more salary 2 years later...
I jumped out as S1, was offered a 30% increment plus a title drop (senior to analyst) . recently got another offer which gives me a 40% jump (this is after my 2 years in commercial with 20% adjustment - promoted once) same batch friends trying to jump out now, she was offered mostly at her current big 4 salary / 5-10% increase, what's worse is most FP&A job will take those from FP&A or accounting advisory functions. Auditors are not competitive in the Finance BP / FP&A fields cos of the lack of knowledge in Tableau/Power BI/ management reportings
if u want jump, jump asap. dont think the jump as mgr get 40% bump works anymore

Originally Posted by EDMWer

Many people rely on outsourced cleaners too lol

Lol

Then we all auditors not important lor.

Then don't rely on our audit report to renew bank facilities lor.

Don't use our audit report to get new investors lor.

Don't use our audit report to do tax reporting lor.

Don't use our audit report to do ACRA filing lor.

Don't use our audit report to do AGM lor.

Don't use our audit report to report to shareholders lor.

Don't use our audit report to tender for projects lor.

We all auditors not important one. hahaha.

Originally Posted by Unregistered

Lol

Then we all auditors not important lor.

Then don't rely on our audit report to renew bank facilities lor.

Don't use our audit report to get new investors lor.

Don't use our audit report to do tax reporting lor.

Don't use our audit report to do ACRA filing lor.

Don't use our audit report to do AGM lor.

Don't use our audit report to report to shareholders lor.

Don't use our audit report to tender for projects lor.

We all auditors not important one. hahaha.

Go ahead if listing all these things make you feel important lor. You happy can already.

Whether others see auditors as important or not, is reflected in how much people pay audit fees vs banker fees.

Originally Posted by Unregistered

Lol

Then we all auditors not important lor.

Then don't rely on our audit report to renew bank facilities lor.

Don't use our audit report to get new investors lor.

Don't use our audit report to do tax reporting lor.

Don't use our audit report to do ACRA filing lor.

Don't use our audit report to do AGM lor.

Don't use our audit report to report to shareholders lor.

Don't use our audit report to tender for projects lor.

We all auditors not important one. hahaha.

But with the audit report we have the most important verified information for the company

But the value add ends at there. There is no advice on what the company should do next

Originally Posted by Unregistered

Lol

Then we all auditors not important lor.

Then don't rely on our audit report to renew bank facilities lor.

Don't use our audit report to get new investors lor.

Don't use our audit report to do tax reporting lor.

Don't use our audit report to do ACRA filing lor.

Don't use our audit report to do AGM lor.

Don't use our audit report to report to shareholders lor.

Don't use our audit report to tender for projects lor.

We all auditors not important one. hahaha.

Bro, if you are the CEO of a company

You have to rank the following expenses

1. CEO salary expenses
2. Marketing and Business Development expenses
3. Sales Commission expenses
4. Research and Development expenses (can be capitalised)
5. Finance Business Partner expenses
6. Auditor expenses
7.Cleaning and maintenance expenses
8. License fees
9. Other salaries

Where would you place auditor expenses at? Give me honest answer bro

Originally Posted by Unregistered

U shld be a shame for managing only 50 client. Mgr portfolio already 40x clients amounting to few hundred to m net worth.

U must be those small cheapo partner always low balling your team. Pui. Dont throw auditor face. Dis u even pass scaq bro?

It's amusing that you feel the need to throw around numbers without understanding the substance behind our audit work. Quality over quantity is a concept that clearly eludes you.

Managing a few hundred clients with minimal depth might be your style, but I prefer delivering value to my clients, not just padding my portfolio for show.

As for your attempt at insults, it reflects more on you than me. Maybe your should focus on improving your own standards before trying to lecture others.

Director/shareholders salary or dividends comes from profit from company
profit from company comes form company spending money
having money to spend comes from bank loan
approval or maintaining bank loan comes from FS and audit partner signature
FS comes from accountant

if anything, the accountant is most important
because the competency of the accountant must match that of the auditors or u dont get your FS

So summary, your accountant pays the directors

Ex big 4, now accountant fighting big 4

Originally Posted by Unregistered

the longer u wait in big 4 the harder it is for u to find some legit commercial accounting position without being lowballed. this industry is dominated by middle age auntie and uncles who may not even have a degree, forget abt CPA/CA. chances are most SMEs rather hire a 5k per month 8YOE auntie accountant as compared to ex-auditor. 1st they cant afford u, 2nd as compared to these laoniao, u more likely to jump again as u want more salary 2 years later...
I jumped out as S1, was offered a 30% increment plus a title drop (senior to analyst) . recently got another offer which gives me a 40% jump (this is after my 2 years in commercial with 20% adjustment - promoted once) same batch friends trying to jump out now, she was offered mostly at her current big 4 salary / 5-10% increase, what's worse is most FP&A job will take those from FP&A or accounting advisory functions. Auditors are not competitive in the Finance BP / FP&A fields cos of the lack of knowledge in Tableau/Power BI/ management reportings
if u want jump, jump asap. dont think the jump as mgr get 40% bump works anymore

By right

Audit should pay more than commercial since there is regulatory involvement

Besides that audit very hard to up salary besides citing to client about

1) Inflation & Increased hiring costs as a result
2) Taking on more clients thus increasing stress level
3) Dropping off low tier clients and moving on to more ridiculous complex client thus increasing stress level
4) Company (hopefully take on either new activity or have higher revenue thus more documentation needed)

There is no way to streamline your work as you are part of the audit factory production process and as such you can only rotate within the audit function by itself

Somehow the market forces is still quite inelastic to adapt for these problems which could only be a seemingly harmless iceberg for ACRA to navigate through in future with lack of auditors