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HR & EDUCATION, INFORMATION TECHNOLOGY | Staff Reporter, Singapore
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Digitally-driven internal auditors to be in hot demand in 2019: report

Firms are also creating new roles within tax functions to handle narrow and specific job scopes.

Firms in Singapore are forecasted to amp up their hiring of experienced internal auditors with strong data management and analytical skills in 2019 as companies realise and capitalise on the value of technology in their operations, according Randstad’s latest market outlook.

One considered as a silo function, internal auditors will be required to work closely with commercial teams to provide data-supported insights relevant and valuable to decision-makers, the report highlighted. It added how time-consuming tasks such as financial record inspections would be further aided by technology in order to go through large volumes of transaction and information records at a faster speed whilst minimising the risk of exposure.

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“Companies across the different industry verticals are recruiting financial planning and analysis specialists who have strong commercial acumen and who are able to use financial data to make critical business decisions,” Randstad highlighted. “We have also seen companies create new roles within the tax functions and hire experts to handle narrow and specific job scopes such as corporate tax, transfer pricing and goods and services tax (GST).”

Singapore is ranked as the most innovative country across Southeast Asia, East Asia and Oceania according to the 2018 global innovation index by Cornell University on the back of its state-of-the-art infrastructure, business-friendly tax structure and intellectual-property laws. The report also highlighted how some 80 of the 100 leading tech companies have presences in Singapore, accounting for approximately 6.5% of the country’s gross domestic product (GDP) in 2017.

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The Lion City was also reported to be the ideal launchpad for Chinese companies looking to expand their global footprint. In the last few years, more and more Chinese firms are entering into Singapore’s healthcare, real estate, e-commerce, fintech and cloud computing clusters, Randstad added.

Meanwhile, firms which specialise in artificial intelligence (AI) and cyber-security solutions are also expanding their operations in Asia-Pacific (APAC) and setting up new offices in Singapore to meet the region’s demands. As a result, startups and multinational corporations (MNCs) are growing their headcount to further meet the increasing customer demands for new technology products and digital services. “Moving into 2019, we expect to see demand for specialised accounting and finance professionals who are agile and flexible to today’s ever-changing landscape." 

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