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 Big 4 Recruitment Drive_v3

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Harry929292
post Jul 20 2022, 10:10 AM

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QUOTE(Topace111 @ Jul 19 2022, 08:15 PM)
Comparing western and Asia is not easy and there are many factors.

My perspective it's easier to budget due to:
1) In the west, clients quality are generally better. Clients are bigger and can afford to pay more audit fees. This leads to more resources from audit firm and client with higher profits are also easier to audit due to higher materiality. Audit staffs can focus on analytics than manual work.
2) Currency exchange is better leading to easier targets
3) Audit staffs also higher quality coming from better schools
4) As most western clients have higher standard of governance and culture, the audit work is easier too. Eastern culture tend to be harder for auditors

Asia is developing country as compared to mature western so there are many other aspects. A key development is that in the west, only the bigger companies need to be audited so all the audit work monopolised by big4. In Asia or Malaysia for example, even small sdn bhd needs to be audited. This creates a lot of job for smaller audit firms. There is a law not too long ago that provided some exemptions but tax law may be contradicted. I don't really follow the news anymore but in Asia the focus is still more on quantity than quality.
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Yes totally agree with you. Always wondered if we had a country with stronger currency and not so focus on quantity, perhaps Asia could have been a nicer place to work in as well.. But again who knows, some would say grass is greener on the other side etc.
pub_yu
post Jul 20 2022, 10:19 AM

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QUOTE(Harry929292 @ Jul 20 2022, 10:10 AM)
Yes totally agree with you. Always wondered if we had a country with stronger currency and not so focus on quantity, perhaps Asia could have been a nicer place to work in as well.. But again who knows, some would say grass is greener on the other side etc.
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Another point to note is that people who started the career or trained in Asia environment find that the western audit processes/works are relatively more lenient as compared to Asia counterparts simply because Asian is more kiasi and want to check everything if not most of the thing to be safe biggrin.gif

Then the Asia boss will argue that you can see we dont have major fraud cases here whereas you would have seen a lot of cases elsewhere
Harry929292
post Jul 20 2022, 11:38 AM

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QUOTE(pub_yu @ Jul 20 2022, 10:19 AM)
Another point to note is that people who started the career or trained in Asia environment find that the western audit processes/works are relatively more lenient as compared to Asia counterparts simply because Asian is more kiasi and want to check everything if not most of the thing to be safe  biggrin.gif

Then the Asia boss will argue that you can see we dont have major fraud cases here whereas you would have seen a lot of cases elsewhere
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Yes I agree. The bosses reviewing always say for comfort purposes etc etc.... Staff got 2 only but want do 200 things.... and worse is the team managers etc who take the credit and during your appraisal do not want to remember your good things, just the bad ones... I spoke to a few counterparts in asian Big4 and all seem to say the same thing.

While I heard westerners majority do just say good things about a person and even their point of improvement is worded nicely.

How true I am not sure la, maybe the rest of the population here can share more.
Fantastic1218
post Sep 28 2022, 09:49 PM

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Any fresh grad A1 got offer in EY start in Oct, what's the salary package now after the pay revision?
XiuKeong
post Sep 30 2022, 08:14 PM

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QUOTE(pub_yu @ Jul 20 2022, 12:19 PM)
Another point to note is that people who started the career or trained in Asia environment find that the western audit processes/works are relatively more lenient as compared to Asia counterparts simply because Asian is more kiasi and want to check everything if not most of the thing to be safe  biggrin.gif

Then the Asia boss will argue that you can see we dont have major fraud cases here whereas you would have seen a lot of cases elsewhere
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What you said is true. Western audit practice differs from Asia whereby they understand things before committing to the scope of work.

I can say that I had a culture shock when I started my first engagement with western audit processes. The number of controls is much lesser with a key focus on high-risk areas.
Jacyline P
post Oct 2 2022, 10:18 PM

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Interested to know how much salary for auditor if fresh graduate with degree holder. Understand big 4 has revised its salary.
KPMG - basic ? + allowance ?
EY - basic ? + allowance ?
PWC - basic ? + allowance ?

Apek Wong P
post Oct 3 2022, 09:13 PM

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Yea... I am interested to know too..
illwill3
post Oct 3 2022, 10:09 PM

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QUOTE(Jacyline @ Oct 2 2022, 10:18 PM)
Interested to know how much salary for auditor if fresh graduate with degree holder. Understand big 4 has revised its salary.
KPMG - basic ? + allowance ?
EY - basic ? + allowance ?
PWC - basic ? + allowance ?
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PwC - Around 3400 basic, allowance 130.
IJustWantToAsk
post Oct 4 2022, 07:35 AM

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QUOTE(Fantastic1218 @ Sep 28 2022, 09:49 PM)
Any fresh grad A1 got offer in EY start in Oct, what's the salary package now after the pay revision?
*
QUOTE(Jacyline @ Oct 2 2022, 10:18 PM)
Interested to know how much salary for auditor if fresh graduate with degree holder. Understand big 4 has revised its salary.
KPMG - basic ? + allowance ?
EY - basic ? + allowance ?
PWC - basic ? + allowance ?
*
Frm what I heard, a1 starting is 4k
Apek Wong P
post Oct 5 2022, 01:17 PM

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May I know what the Finance Services Industry Audit is be like, as compared to the manufacturing, construction or other retail industry audit.
Quokkana P
post Oct 17 2022, 11:35 AM

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Hi. Would like to know if big 4 has salary increment/ adjustment after probation?
zz287963
post Oct 18 2022, 09:46 AM

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QUOTE(Quokkana @ Oct 17 2022, 11:35 AM)
Hi. Would like to know if big 4 has salary increment/ adjustment after probation?
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AFAIK nope
pub_yu
post Oct 18 2022, 04:42 PM

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QUOTE(Apek Wong @ Oct 5 2022, 01:17 PM)
May I know what the Finance Services Industry Audit is be like, as compared to the manufacturing, construction or other retail industry audit.
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One is financial service industry another is manufacturing, construction or other retail industry? laugh.gif
zz287963
post Oct 18 2022, 08:13 PM

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QUOTE(Apek Wong @ Oct 5 2022, 01:17 PM)
May I know what the Finance Services Industry Audit is be like, as compared to the manufacturing, construction or other retail industry audit.
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FS is dealing with financial institutions such as banks, insurance companies, PE firms, asset management companies etc which are typically more regulated.

One example for bank audit, it would involve more on assessing the credit risks such as ECL; the audit report needs to be submitted to BNM as well, hence there would usually be two submissions

This post has been edited by zz287963: Oct 18 2022, 08:19 PM
Apek Wong P
post Oct 22 2022, 08:14 AM

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Ohh I see... Is it also meaning that there is a need to submit a slightly different version of audit report to the BNM right? Aside from regular audit report to the SC... Or that type of audit is just submit another copy of the audit report to BNM?
Apek Wong P
post Oct 22 2022, 09:47 AM

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Hi... May I know for the case of probation in any of the big 4, is it usually people will be turning into a permanent staff? And, at worst will it be extending the probation period or being fired, if the work performance is not that good?
zz287963
post Oct 23 2022, 04:06 PM

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QUOTE(Apek Wong @ Oct 22 2022, 09:47 AM)
Hi... May I know for the case of probation in any of the big 4, is it usually people will be turning into a permanent staff? And, at worst will it be extending the probation period or being fired, if the work performance is not that good?
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Don’t think you will get extended or worse, being fired as I can’t imagine how bad you will need to be to put yourself in such situations.

Just work the best you can, as long as you meet the bar it should not be a big problem. Mind sharing which service line you’re from, is it audit? Personally, I have not really heard anyone mention that they failed probation. As I said, just put your effort into the work you do, build and maintain good relationships within the team, it should not be a problem for passing the probation. Good luck.
zz287963
post Oct 23 2022, 04:08 PM

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QUOTE(Apek Wong @ Oct 22 2022, 08:14 AM)
Ohh I see... Is it also meaning that there is a need to submit a slightly different version of audit report to the BNM right? Aside from regular audit report to the SC... Or that type of audit is just submit another copy of the audit report to BNM?
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Think there are differences between the two report, as there are certain requirements to be met for BNM submission if not mistaken. However, the work done carried out from both would be the same, just the timeline for submission would be slightly different as one would usually be earlier. I’m just trying to give the best from my knowledge, welcome more inputs from those more experienced to give you more insights
tzxsean
post Oct 23 2022, 06:58 PM

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QUOTE(Apek Wong @ Oct 22 2022, 09:47 AM)
Hi... May I know for the case of probation in any of the big 4, is it usually people will be turning into a permanent staff? And, at worst will it be extending the probation period or being fired, if the work performance is not that good?
*
will probably extend probation maybe 1 or 2 times

if still cant perform .. will ask you to resign (won't fire you) to leave a neutral history on your resume
Apek Wong P
post Oct 23 2022, 10:01 PM

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Ohh... Actually, I got financial service audit offer in one of the big 4 (Nov start to work). I had my internship in a small audit firm (main engagement industries I worked last time: construction, property, manufacturing) previously for 6 months, and after internship the small audit firm welcomes me to go back there to work when I had done with my accounting degree.

As for the part of that previous I am asking about the worst scenario of the probation, in fact, I wonder how the worst-case scenario is, anyhow I still know all people will work for the level best lah... ahahahahahah... (*P/S: I rarely heard of this situation, so I might as well ask in this forum).

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