Audit: Four Main Trends
#1 Audit Vacancies Decrease, Big 4 Share Grows
Audit vacancy volumes have a downward sloping trend. In July 2016, there were 25% less Audit vacancies published than this time previous year. The Big 4 remain top employers for Auditors, so far this year publishing 40% of England and Wales-based vacancies, comparing to 37% last year, as Vacancysoft data reveals.
#2 Decreased Top Level Hiring
The proportion of
#3 Brexit-Related Uncertainty
The referendum’s short-term outcomes are economic uncertainty and a more volatile market. That strongly influences financial reporting and audit. A KPMG report predicts that audit plans may need to be revised with a few questions to consider:
“Whether the audit function should be deploying more specialist expertise in light of the impact that pensions, financial instruments and other valuations are taking? How have political and economic changes been factored into the audit plan and are contingency plans still valid?”
#4: The UK And The EU Audit Reform
She mentioned in her article “Brexit and EU audit reform”: “In the long-term, it’s possible that the UK regulatory framework could change, but I think it’s more likely that the UK will continue to apply much of the EU regime in order to maintain market access”.
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The data used in this article comes from and is owned by Vacancysoft LLP.