Q: Big4 - Yearly salary increment

Originally Posted by Unregistered

Analysis, forecasting and budgeting are an entirely different skill set and field, no?

It’s a bit of a stretch to even lump them under accounting as they have nothing to do with IFRS or FS.

Why even compare them to audit?

Accounting is not plainly just financial accounting (I.e IFRS, FS), there is management accounting also. If you look at certain FP&A positions quite a number of them require accounting knowledge

Originally Posted by Unregistered

Accounting is not plainly just financial accounting (I.e IFRS, FS), there is management accounting also. If you look at certain FP&A positions quite a number of them require accounting knowledge

Hmm no doubt there is management accounting.

But most are us are CA-qualified and our areas of expertise or over financial reporting, assurance and tax.

You don’t need a CA to do budgeting or forecasting.

Originally Posted by Unregistered

Hmm no doubt there is management accounting.

But most are us are CA-qualified and our areas of expertise or over financial reporting, assurance and tax.

You don’t need a CA to do budgeting or forecasting.

agreed.....

://afr.com/companies/professional-services/the-seven-slides-ey-used-to-pitch-its-split-to-staff-20220811-p5b93q

Another slide states that if there is a split, the auditing arm, AssureCo, will have estimated revenue of $US18 billion and be 100 per cent owned by partners staying in that business, while the consulting arm, NewCo, will have estimated revenue of $US24 billion and be a new corporate entity majority-owned by EY partners moving to the new standalone advisory business.

Not mentioned is how the firm’s existing legal woes will be dealt with. EY’s overseas operations have been at the centre of a string of high-profile audit failures.

EY was the auditor of Wirecard, a German payment processor that filed for insolvency in 2020 after admitting that €1.9 billion of cash on its books probably never existed. EY also audited Luckin Coffee, a Chinese coffee chain that filed for bankruptcy amid allegations its executives inflated income, costs and expenses.
****

Thoughts? Consulting trying to ditch audit arm to fend for itself. If EY splits up it's consulting arm, the auditors are screwed!

Originally Posted by Unregistered

Does anyone know when will we know of compensation updates for yellow?

so far, no updates. nothing from the mgt

Originally Posted by Unregistered

so far, no updates. nothing from the mgt

Disappointing. Always last at everything.

FP&A doesn't need CA or even need to be an accountancy graduate. Many directors/VP of fp&a in large mncs come from other degrees like economics and finance

Doesn't matter what fp&a needs. The fact is fp&a do hire ex-auditors. So if that's something you want, why not.

Originally Posted by Unregistered

Doesn't matter what fp&a needs. The fact is fp&a do hire ex-auditors. So if that's something you want, why not.

Doesn't matter what fp&a needs. The fact is fp&a do hire non ex-auditors. So if that's something you want, why not.

Originally Posted by Unregistered

FP&A doesn't need CA or even need to be an accountancy graduate. Many directors/VP of fp&a in large mncs come from other degrees like economics and finance

Does it mean CA is overhyped? Since you could even get into FP&A without CA. I even see the big bosses do not have CA (but they have masters in finance or have worked in MBB firms before)