Audit Salary

Audit International, the leading specialists in Internal and External Audit Recruitment across Europe, the US and Asia have known that in 2014 PwC’s total fee income was £2.539bn, some £224m ahead of Deloitte (£2.315bn) according to the Financial Reporting Council’s 2014 Key Facts and Trends in the Accountancy Profession.

PwC also earned the highest fee income from audit (£571m) and from non-audit work for audit clients (£332m). This compares with Deloitte’s audit fee income of £486m.

Third-placed KPMG had total fee income of £1.874bn of which audit contributed £438m. Therefore, the research shows that mentioned two firms were well ahead of their Big Four firm rivals.

Meanwhile, EY earned £1.868bn, including £341m from audit services. Compared to the mid-tier firms and even if the next three largest firms (Grant Thornton, BDO and Baker Tilly) were to merge, the combined total of their fee income would still be £727m less than EY’s.

However, during 2014 the mid-tier saw a major boost to their overall fee income which on average grew by 15.1% compared to the Big Four’s 4.3%. Their audit fee income rose by 9.5% (Big Four 0.1). Their non-audit work for non-audit clients also grew on average by 18.7% compared to the Big Four’s 6.3%.

The Financial Reporting Council’s statistics show that all the firms’ audit fee income is shrinking as a percentage of overall fee income. This is more gradual among the Big Four where the percentage has gone down from 24% in 2010 to 21% in 2014. In the same period the mid-tier firms have seen their audit percentage drop from 34% to 28%.

 

For jobs with some of the leading international consulting firms across the world as well as tier one multinationals, please contact Audit International on 0041 4350 830 95 or else email your current cv to info@www.audit-international.com

Audit International, the leading specialists in Internal and External Audit Recruitment across Europe, the US and Asia have known that UK consultants saw a hike in fees during 2014, with the Big Four outperforming their competitors.

According to the industry body’s latest report, Management Consultancies Association members, which include the Big Four’s consultancy firms, announced £5.2bn in fees during the last year, up 8.4% on the previous period. The Big Four’s consultancies grew by 10.75%.

The MCA’s members made up over half (60%) of the UK management consulting sector. Therefore this growth was faster than the majority of every other economy sector. According to Accountancy Age’s Top 50+50 2014 survey, they earned £2.7bn.

After last week’s consulting acquisitions made by KPMG and EY, it is clear that consulting has become a huge focus for the Big four in recent times.

Speaking about sectors and industries, the annual report showed that digital consulting remains the largest area of consulting activity. Most of that activity surrounds financial services, retail and energy, and figures show it rose to over 27% to £1.4bn, which is up 2% from last year and a total of 8% from two years ago, according to MCA.

Specifically strategy consulting, which last year accounted for 7% of consulting activity, saw growth of 44% in 2014, and now makes up a tenth of all activity. Also, Financial Services saw growth last year, and remains the biggest private sector buyer of consulting services. The MCA research also shows that consulting work in general has increased by 43%, with members involved in major UK projects.

Finally, the income from the public sector remains similarly to 2013. It is around £1.1bn, lower than the previous £1.8bn at the start of last parliament. Yet firms who supplied returns across 2013 and 2014 show 9.8% growth between both years.

 

 

For jobs with some of the leading international consulting firms across the world as well as tier one multinationals, please contact Audit International on 0041 4350 830 95 or else email your current cv to info@www.audit-international.com

Audit International, the leading specialists in Internal and External Audit Recruitment across Europe, the US and Asia have known the list of the top 50 places in the world to live in 2015. Index factors include liveability, cost of living and safety.

The Economist Intelligence Unit’s (EIU) Global Liveability Ranking and Report reveals that Melbourne is the most liveable city on Earth. This ranking is based on 30 qualitative and quantitative factors spread across five areas: stability, infrastructure, education, healthcare and environment.

Recently published list provides scores for lifestyle challenges in 140 cities worldwide and shows that liveability across the world has fallen by 0.7%, led by a 1.3% fall in the score for stability and safety following a decade of destabilising events.

Locations on the top of the ranking tend to be mid-sized cities in wealthier countries with a relatively low population density, which boast increased recreational activities, but without high crime levels and overburdened infrastructure.

As we have mentioned before, Melbourne leads the list for the fourth year in a row. Also this year’s list puts eight of the ten most comfortable places to live in Australia, Canada and New Zealand.

Logically, cities with major conflicts are ranked lowest, including Damascus (140) Lagos (137) and Karachi (136) although the EIU excludes hotspots, such as Kabul and Baghdad, because the rankings are “designed to address a range of cities or business centres that people might want to live in or visit.” Related to this, cities experiencing the biggest decline in standards of living over the past five years (serious problems with unemployment, violence, civil unrest, and instability) are: St Petersburg (70), Moscow (73), Sofia (87), Athens (69), Tunis (103), Muscat (88), Cairo (120), Caracas (126), Kiev (124), Tripoli (132) and Damascus (140).

We can find Vienna in the 2nd position, Helsinki (8), Zurich (11), Geneva (12), Hamburg (12), Paris (17), Frankfurt (18), Luxembourg (25), Dusseldorf (32) and Miami (38).

 

For jobs with some of the leading international consulting firms across the world as well as tier one multinationals, please contact Audit International on 0041 4350 830 95 or else email your current cv to info@www.audit-international.com

Audit International, the leading specialists in Internal and External Audit Recruitment across Europe, the US and Asia have learned that perspectives are positive for the accountancy profession in the UK as bonuses and salaries have raised.

According to research from accountancy recruiter Marks Sattin, The average basic salary for accountants slightly improved over the last 12 months by 0.4%, taking it to £67,083. In addition, more than three quarters expect to see their salaries increase further over the next 12 months.

Speaking in terms of bonuses, the average bonus for an accountant in the UK now stands at £10,733, 16% of annual salary. The total bonus pot is £1.2bn this year – £100m more than in 2013/14. This year the number of accountants who received a bonus jumped from 53% to 61%.

Dave Way, managing director of Marks Sattin recently declared regarding this figures “Accountants are sharing a bumper bonus pot this year, riding high on the back of the economic recovery”.

Mentioned research also shows that only 27% of accountants said that they were expecting their organisations to make budget cuts over the year ahead, with only 21% predicting a salary freeze. More than a quarter (27%) feel very secure in their current role, while 61% feel generally secure.

Good perspectives has led to an openness to job moves among accountants; only 28% actively rule out moving jobs in 2015, and 32% said that they will be looking to find a new role. According to recent researches, to move jobs a typical accountant would look for a salary premium equivalent to 15% of their basic package.

 

For jobs with some of the leading international consulting firms across the world as well as tier one multinationals, please contact Audit International on 0041 4350 830 95 or else email your current cv to info@www.audit-international.com

Audit International, the leading specialists in Internal and External Audit Recruitment across Europe, the US and Asia have learned according to the April 2015 Adviser Rankings for the UK, that BDO has retained its premier ranking as the firm with the biggest chunk of AIM clients at 152, just two above KPMG with 150.

In the fourth position we can find PwC with 120 clients, after securing an additional audit win, while Baker Tilly retained its seventh position with 58 clients, after a gain of two, with Crowe Clark Whitehill in eighth with 43 clients.

FTSE AIM 100 ranking as been published as well. In this index, PwC retains its crown with 31 clients, after a gain of three, while BDO move up to fifth with nine clients. Baker Tilly meanwhile kept its seventh spot with four clients, after a gain of one.

Speaking about the sector ranking BDO dominates the basic materials turf with 31 clients. It also bosses the consumer goods market with nine clients, while KPMG takes first place in the consumer service stakes with 16 clients. Grant Thornton leads the technology sector with 27 clients while rising to the top of both the healthcare and industrials sectors. In oil and gas, BDO rule supreme with 25 clients while Baker Tilly and Jeffreys Henry both move up into the top ten.

Finally, KPMG is the dominant auditor of the stock market clients overall with 399, followed by PwC with 360 and Deloitte with 276.

 

For jobs with some of the leading international consulting firms across the world as well as tier one multinationals, please contact Audit International on 0041 4350 830 95 or else email your current cv to info@www.audit-international.com

Audit International, the leading specialists in Internal and External Audit Recruitment across Europe, the US and Asia have learned that the prospects for the German economy remain “very good” with the weaker euro helping to offset sluggish growth in some emerging markets, according to recent statements made recently by Ifo (Institute for Economic Research) economist Klaus Wohlrabe.

Europe’s largest economy has started the second quarter on a strong footing and therefore, Germans’ morale rose to its highest level in almost a year in April.

Mr. Wohlrabe explained April’s figures supported its spring forecast for economic growth of 2.1 percent this year in Germany and 1.8 percent in 2016.

Regarding this fact he declared: “The prospects for the German economy continue to be very good, adding he was not concerned about the slight fall in expectations this month. He also opined “The euro’s weakness is compensating for the sluggish development in several parts of the world” clearly pointing to large emerging markets like China, Russia and Brazil.

The German government has raised its growth forecast to 1.8 percent for this year as Germany rides high on a tide of strong private consumption thank to rising employment and ultra-low interest rates.

 

For jobs with some of the leading international consulting firms across the world as well as tier one multinationals, please contact Audit International on 0041 4350 830 95 or else email your current cv to info@www.audit-international.com

Audit International, the leading specialists in Internal and External Audit Recruitment across Europe, the US and Asia have learned the revenues of the 20 richest football clubs in the world reached £5.2 billion in the 2013-14 season, up £669 million on the previous year according to a report recently published by Deloitte.

For the 10th year in a row, Champions League winners Real Madrid top the list. However, the Premier League continues to consolidate its position as the dominant financial force in world football, with eight clubs in the top 20 as broadcast money boosted English teams’ revenues. Among the British teams,  Manchester United have jumped back up football’s rich list and are now the second highest earning club in the world behind Real Madrid. Therefore, Manchester United jumped two places up the list as they become the second highest earning football club in the world with revenues of £433.2 million. Regarding this fact, Austin Houlihan, Senior Manager at Deloitte declared “Despite a poor on-pitch season in 2013-14, United’s commercial strategy of securing global and regional partners is delivering substantial growth,” said. He also added: “Their absence this season from European competition will be felt in next year’s Money League position, but if they can return to the Champions League in 2015-16 there is a strong possibility they could be top in two years’ time.” Some other teams of the Premier League as Manchester City, Chelsea, Arsenal and Liverpool feature in the top 10 of the Money League while Tottenham are joined in the top 20 by newcomers Newcastle and Everton.

The report also shows existing match between Real Madrid’s unprecedented 10th Champions League victory last term and their financial performance, with revenue growth of six per cent to £459.5m. Continuing in the Spanish football, their great rivals Barcelona have dropped from second to fourth this year as their revenues fell to £405.2m in 2013-14, with German giants Bayern Munich staying second with turnover of £407.7m. Following them, Paris Saint-Germain in fourth (£396.5m) come Premier League powerhouses Manchester City (£346.5m), Chelsea (£324.4m), Arsenal (£300.5m) and Liverpool (£255.8m). Is surprising that not only are there 10 Premier League clubs in the top 20, but strikingly all 20 English top flight clubs feature in the top 40 this year. According to this, Hoolihan said: “The Premier League’s new broadcast deals have translated into big revenue increases across the English top flight,” He also added: “Every Premier League club reported record revenues in 2013/14. Between them, the eight English clubs in our top 20 achieved total broadcast revenues of £0.9bn. The fact that all the clubs in the Premier League are in the top 40 is testament to the huge appeal of the league globally and also the equality of the distributions the clubs enjoy relative to their European counterparts. Finally he concluded: “Additionally, the Premier League is currently negotiating for the next cycle of media rights and further uplifts are anticipated.”

For jobs with some of the leading international consulting firms across the world as well as tier one multinationals, please contact Audit International on 0041 4350 830 95 or else email your current cv to info@www.audit-international.com

Audit International, the leading specialists in Internal and External Audit Recruitment across Europe, the US and Asia have recently learned that German economy was at its strongest in three years in 2014.

The evolution of German economy during last year can be summarized explaining that Teutonic economy had a robust start but only narrowly avoided a contraction in the third quarter after shrinking in the second

Among the aspects that pushed a 1.5 per cent expansion of the German economy in 2014, must be highlighted private consumption and trade. Regarding the first one, private consumption added 0.6 percentage points to growth last year.

Record high employment, rising wages and moderate inflation are further key points that explain the expansion of the German economy during last year.

Despite persistent sluggishness in Europe, Germany’s main export market, and crises in Ukraine and the Middle East, foreign trade, a traditional driver of the economy which has lost momentum in recent years, contributed 0.4 percentage points. However, economists pointed out that the economy had not fared as well in 2014 as the full-year data for gross domestic product (GDP) growth suggested.

As previously has been mentioned, the German economy started the year with robust quarter-on-quarter growth of 0.8 per cent, only to contract in the second quarter and narrowly avoid a technical recession with meagre growth of 0.1 per cent in the third.

As the finance ministry of Germany informed recently, for the first time since 1969, Germany had balanced its budget. Furthermore, Berlin had been aiming to achieve zero deficit in 2015 but strong tax revenues and lower debt service costs helped it achieve the goal a year early in 2014.

 

For jobs with some of the leading international consulting firms across the world as well as tier one multinationals, please contact Audit International on 0041 4350 830 95 or else email your current cv to info@www.audit-international.com

 

According to a recent survey, there has been an increase in the average working week of risk professionals. The number of auditors who say they regualry work more than 50 hour week has significantly grown. However it is not all bad new as they are very well paid for their overtime.

More than 40 per cent of risk professionals reported working 50 or more hours a week in 2014, a year-on-year rise of 11 per cent since 2013.

Typically the ordinary working week for risk professionals also increased, from 45.5 hours to 45.9 hours. However, only one in ten respondents said they worked regular overtime – considerably fewer than in HR (46 per cent), change management (41 per cent) or compliance (33 per cent). Similarly, only 16 per cent of risk specialists work over the weekend at least once a fortnight, compared with an average of 22 per cent across the wider financial services market.

Risk professionals are seemingly more incentivised by increased pay and benefits than other factors.

Nearly 70 per cent said remuneration is “very important” to job satisfaction, above both work-life balance (57 per cent) and status and responsibility (21 per cent). Only a quarter said that an interesting workload was “very important”, far fewer than professionals in marketing (71 per cent), HR (54 per cent) or procurement and supply chain (52 per cent).

Around a third of risk professionals said they would leave their jobs because of a disappointing salary review, a larger number than in compliance (24 per cent), financial services (21 per cent) or change management (9 per cent).

 

For jobs with some of the leading international consulting firms across the world as well as tier one multinationals, please contact Audit International on 0041 4350 830 95 or else email your current cv to info@www.audit-international.com