FTSE 100 companies

SAP Launched new Cloud version of their software with integrated analytics
Companies can now avail of new SAP technology as the software giant moves into the modern world of cloud computing. The new version will now allow their business customer perform the same accounting, financial, and manufacturing management tasks as before, but in a more modern and efficient manner. This is great news for SAP experts and financial auditors who use the software.
Customers will now avail of public-cloud deployment opposed to building and maintaining their own data centres. With extra features added they now deem the software to be “smart”. It is claimed that it will do everything from managing manufacturing processes, to tracking inventory, to paying bills, to logging payments.
This will be invaluable to large multinationals delivering complex on-prem ERP solutions for the largest organizations on the planet. Essentially it will allow these companies to handle all the “technical heavy lifting” by using public cloud products instead of their own private data centers. In addition it also offers integrated analytics package to take advantage of the increased intelligence.
The overall idea is to provide more automated insight into the company data being collected by the ERP system. The system acts as a more active contributor to assist and augment the human decision makers.
Going forward more and more companies during the hiring process are making SAP knowledge a prerequisite for their audit and accounting openings so this may very well be the next step in our technology driven world.

One of the new hottest tech trends for the IT Audit Market and in particular the Data Analytics Market is artificial intelligence (AI). As the consumption of data persists and the growth continues with no apparent limits, we see companies across the globe are investing not only in big data analytics hardware and software but more so in the people with the skills and knowledge to utilises them. They are also heavily investing in these hard to find individuals’ continuing education.
According to a recent article released by Forbes, the world’s biggest companies such as Google, Facebook, IBM and Amazon are heavily investing in hiring and acquiring new IT talent in the arena of data analytics.

This in turn will hopefully lead to the development of new tools for migrating data, and also analysing. The predications for the market are estimated to grow in excess of €200 billion so individuals with expertise and knowledge in these specialised fields and areas are certain to build a successful career with unlimited career options and growth.

This growth will also apply not only to individuals but also to the information-based products which are also set to increase with Fortune500 companies investing heavily in new technology and infrastructures for information gathering. The data acquired can then be either bought or sold which again will lead to further revenue generation.

Audit International, the leading specialists in Internal and External Audit Recruitment across Europe, the US and Asia have known that The Institute of Internal Auditors and the Association of Chartered Certified Accountants have signed a memorandum of understanding aimed at advancing internal auditing and accounting practices globally.

The main part of the collaboration is a one-time challenge exam open to ACCA members toward receiving the IIA’s Certified Internal Auditor, or CIA, certification.

The CIA certificate, launched in 1973, identifies the individual as a committed and competent professional and provides recognition and status among peers and principal stakeholders.

Recently, IIA president and CEO Richard F. Chambers said “We are eager to make the challenge exam available to qualified ACCA members because earning the CIA represents an important level of achievement for internal audit practitioners,” He also added: “The rigorous requirements for ACCA membership reflect the high standards of professional attainment that we expect of all of our CIA certificate holders.”

The ACCA certification identify members as qualified accountants and show their commitment to high ethical standards, professional values, and lifelong learning. To get the ACCA is mandatory to pass ACCA qualification exams and a professional ethics module, a three-year practical experience requirement and more.

We have also learnt that ACCA-member recipients of the CIA will have to meet continuing professional education requirements beginning in January 2017 to retain the certification.

Finally, has been known that the organizations will help build awareness of respective initiatives and programs, including the ACCA’s recognition of the IIA’s International Standards for the Professional Practice of Internal Auditing.

 

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 KPMG retains audit crown in latest Adviser Rankings in terms of overall stock market client numbers with 404 accounts, according to the latest research from Adviser Rankings.

According to the Corporate Advisers Rankings Guide, in the latest quarterly BDO retained the lead on London’s junior market by client numbers – ahead of KPMG, by just one client, while BDO managed to ease on to the podium through the collective worth of its clients.

Both Smith & Williamson and Crowe Clark Whitehill made solid additions to their rosters, in eighth and tenth place, respectively.

Regarding to the largest audit companies, PwC remained the largest auditor of FTSE 100 businesses with 39 clients, nearly double that of Deloitte, which moved into third position.

Finally, in the industrials sector, Welbeck Associates entered the rankings in joint 11th position with three clients while in oil & gas Nexia Smith & Williamson retain 8th position with five clients, after a gain of one.

 

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 Institute of Internal Auditors (IIA) recently released nine new and updated practice advisories that provide guidance to internal auditors and chief audit executives on managing an effective quality assurance and improvement program.

Mentioned advisories focus on parts of the IIA’s International Standards for the Professional Practice of Internal Auditing that deal with maintaining, establishing, and reporting on a quality assurance and improvement program. According to the IIA, these mandatory programs are intended to build confidence in internal audit’s work performed in accordance with the standards.

See below the nine practice advisories:

1- Quality Assurance and Improvement Program

2- Internal Assessments

3- External Assessments

4- External Assessments: Self-Assessment with Independent Validation

5- Independence of External Assessment Team in the Private Sector

6- Independence of the External Assessment Team in the Public Sector

7- Reporting Results of the Quality Assurance and Improvement Program

8- Use of “Conforms with the International Standards for the Professional Practice of Internal Auditing”

9- Disclosure of Non-conformance with the International Standards for the Professional Practice of Internal Auditing

IIA members can access all of the institute’s practice advisories

These modifications and all the changes to the updated advisories are designed to provide enhanced recommended guidance to chief audit executives, whether relating to the results of internal and external assurance reviews, or disclosing non-conformance with the standards.

 

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 the audit, tax and advisory firm, KPMG and SailPoint, the leader in identity and access management have recently signed an alliance that will provide leading information protection solutions to help clients manage and protect their critical information.

This alliance arises just after being published a survey that showed 40 percent of board members of global institutional investors have a “barely acceptable understanding” of their company’s key information, data assets and the potential impact of losing them.

Prasad Jayaraman, KPMG Advisory principal and executive sponsor of the SailPoint alliance declared: “The stakes are high for organizations facing rogue threats, rising customer expectations, profitability pressures and demanding regulatory requirements,” He also added: “Increasingly, they are calling on firms like KPMG and SailPoint to help securely and effectively manage access across large populations of users and applications to improve identity controls and mitigate risk.”

Mentioned alliance combines SailPoint’s next-generation IAM solutions with KPMG’s leading identity management services to help clients safeguard valuable data and applications residing in datacentres on mobile devices and in the cloud.

This alliance include benefits as the ability to reduce risk, address compliance requirements, enhance user experiences, streamline business process controls and increase operational efficiencies and reduce costs, while enhancing the customer experience to expand revenue opportunities.

 

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 that Auditors in the UK are responding positively, and in some cases quite innovatively, to the UK’s new auditor reporting requirements. This is the main conclusion of a recent UK Financial Reporting Council report “Extended auditor’s reports: A review of experience in the first year”.

Mentioned report studied 153 audit reports between July and September 2014 that were issued under the new regulations. These regulations sought to make auditor reports more meaningful and less boilerplate, requiring auditors to describe assessed risks of material misstatement, explain their application of materiality and describe the scope of the audit.

Among all reports studied, 63 were for FTSE100 companies and 147 were by the 4 largest audit firms. The range of innovations have included the use of diagrams and graphs, the relocation of the audit opinion and more detailed analysis of risks. The innovations, as well as a few areas where improvement is still needed, especially the provision of entity specific disclosures, are set out in the media release.

The IAASB released similar audit report reforms by earlier this year, reflecting significant calls from stakeholders worldwide for audit reports to be more useful and communicative and these have an implementation date of December 2016. A range of resources, known collectively as the Auditor Reporting toolkit have been published by the IAASB to help practitioners become familiar with the new requirements. They include an “At a glance” summary and an accompanying presentation supporting the new and revised standards.

Analogous reforms are also being considered by the US PCAOB and have been implemented in the EU, with the European Federation of Accountants (FEE) recently issuing a report demonstrating how the EU and new IAASB requirements align.

 

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