Investing in talent is a key part of the firm’s strategy to enhance the quality of audit.
KPMG in Singapore today announced a salary level increase of 20 per cent for its auditors who obtain the Singapore Chartered Accountant (SCA) qualification by 1 July 2020.
This move, which is the first among the Big 4 professional services firms in Singapore, sees KPMG paying its auditors significantly above the industry benchmark, with the goal to enhance audit quality to the benefit of the capital markets and the profession. It also signals the firm’s commitment to invest in staff development to elevate the quality of audit.
In addition to the salary adjustment, the firm grants 10 days of study leave per sitting for auditors who pursue the SCA qualification.
Ong Pang Thye, Managing Partner of KPMG in Singapore said: “Over the years, we have invested heavily in people, technology and programs to enhance audit quality. Our focus on audit quality is intrinsically linked to our commitment to promote public trust. This move to peg pay to enhanced qualification represents one of our largest investments in audit quality to date, and the importance we place in recognising accreditation in line with the global profession and the need to deliver greater value in our audit.
“Furthermore, the pay scale adjustment reflects our commitment to develop and train our people while ensuring that salaries are leading the market in order to attract and retain the best talent.”