KPMG

2022 - 5 - 19

Post cover — Image courtesy of "The Straits Times"

KPMG commits $25m to pay raises and invests $30m in learning ... (The Straits Times)

KPMG Singapore will raise salaries for the majority of its local workforce of 3200 people. . Read more at straitstimes.com.

To date, the firm has already committed at least $7 million in such sponsorship for FY2022. Noting heightened industry baseline standards due to the increasing complexity of businesses, the firm highlighted that deeper sectoral expertise is now needed to meet the evolved tax and audit requirements and widening stakeholder expectations. SINGAPORE - Audit, tax and advisory services firm KPMG Singapore will raise salaries for the majority of its local workforce of 3,200 people and invest $30 million in a learning programme to improve their skills and knowledge.

KPMG commits S$25 million salary increment for Singapore staff (Yahoo Singapore News)

On top of the S$25 million KPMG is investing this financial year into salary increments, the firm will also pay out "market-competitive bonuses".

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KPMG warns British corporate giants of big hike in audit fees (Sky News)

Companies such as Barclays and Reckitt Benckiser face steep increases in their audit fees next year, partly because of inflated staff costs, KPMG has said ...

"As you may know, we are facing a number of additional upward cost drivers, notably the requirements of the revised ISA (UK) 315, which we estimate will add between 5 and 20% to base audit costs, as well as significant inflationary pressures in relation to staffing costs and recruitment." Sky News has learnt that KPMG has notified listed audit clients that the cost of scrutinising their accounts would rise by up to 20% next year. Companies such as Barclays and Reckitt Benckiser face steep increases in their audit fees next year, partly because of inflated staff costs, KPMG has said in a note to clients seen by Sky News.

KPMG plans to hikes fees by up to 20 per cent due to higher cost of ... (City A.M.)

Big Four accountancy firm KPMG has warned clients it is planning to substantially increase its audit fees, in order to pay for higher salaries.

The auditor told its clients it plans to increase fees by between 5 per cent and 20 per cent due to facing higher costs linked to new industry rules and the higher costs of staffing, according to Sky News. The firm also blamed the fee hikes on the new ISA (UK) 315 rules, as KPMG said it will need to bulk up its audit teams to ensure it complies with the requirements. KPMG plans to hikes fees by up to 20 per cent due to higher cost of staffing

KPMG announces pay adjustments for Singapore employees, firm ... (NewsPatrolling)

KPMG in Singapore's latest pay adjustments and investments in a lifelong learning programme is in recognition of and a bid to contribute to the profession's ...

To date, the firm has already committed at least $7 million in such sponsorship for FY22. KPMG in Singapore has been leading the market in raising salaries for audit and tax employees who attained the Singapore Chartered Accountant (SCA) qualification or Accredited Tax Advisor (ATA) qualification. The pay hike is timely as industry baseline standards are lifted for professional services, given the increase in complexity of businesses. This move by the Singapore office of the global firm comes as demand by companies for quality advisors rises significantly – highlighting the pivotal role that professional services firms will continue to play in the future landscape for businesses. The firm will also continue to pay out bonuses competitively at the market rate despite global geopolitical and economic uncertainties. In particular, the starting pays for entry level professional staff will increase by up to 20 per cent.

KPMG Singapore announces salary increments for a majority of ... (Human Resources Online)

As part of the exercise, the starting salaries of entry-level professional staff will be increased by 20%.

In detail, this would involve ESG training for its 236,000-strong global workforce, in partnership with the University of Cambridge Judge Business School and NYU Stern Executive Education. Employees also have unlimited access to over 16,000 courses across business, innovation and technology, and have opportunities to put learning into action. - Doube its technology investments in 2022. As part of the exercise, the starting salaries of entry-level professional staff will be increased by 20%.

KPMG S'pore increases starting pay by up to 20%, commits S$25 ... (Mothership.sg)

Employees of KPMG in Singapore will be looking forward to their next pay cheque after the accounting firm committed about S$25 million to salary increments. As ...

The results of a survey published at the start of 2022 found that employers in Singapore were planning to offer employees pay increases in the face of inflation and a talent crunch, reported The Straits Times. In addition, the firm called the pay hike "timely" given the increasing complexity of businesses, citing evolved tax and audit requirements, widening stakeholder expectations, and the need for deeper expertise. As part of the move, starting pay for entry-level professional employees will increase by up to 20 per cent.