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Deloitte adds 3000 new hires to boost Singapore accountancy sector

Deloitte adds 3000 new hires to boost Singapore accountancy sector
Deloitte adds 3000 new hires to boost Singapore accountancy sector

Deloitte has announced plans to add around 3000 new recruits in its Singapore offices to meet the demand for its professional services, which is expected to go up in the next five years. The employment will be focused mainly in the accountancy sector, with about one-third of the new jobs covering regulatory services like audit and tax. The objective of the company is to double its headcount of 13,000 and revenue of USD 1 billion in Southeast Asia over the next five years.

While 70% of the new hires will serve in the areas like consulting, financial advisory, and risk advisory, the company continues to place importance on traditional accountancy services. The incoming chief executive of Deloitte in the South-east Asia region, Eugene Ho, has also arranged a brief meeting to announce his takeover from the current chief of two terms, Philip Yuen.

Ho has commented that the recruitment is open to individuals from all educational backgrounds including engineering and business, accountancy, and even psychology. The new recruits will be trained first, he explained. He has also spoken about the value of freshers in this sphere of accountancy, adding that accountants are analytical, highly quantitative, and therefore have a deeper understanding of the financial language. As a result, they are ideal candidates for auditor and tax professional roles and are considered an asset to the organizations.

Executive director of Ethos BeathChapman, Shalynn Ler, has expressed that companies are struggling to fill the positions at the assistant manager and manager levels, as a result of which they are moving their focus towards neighboring countries.

Recent tax reports show that the number of accountants and auditors in the U.S. has fallen by 17 percent in 2021, after rising in 2019. The Singapore government and accountancy bodies in the nation have commenced efforts to bridge this gap, by addressing issues like low base pay and heavy workloads in the accountancy field.

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