Why Singapore auditors are in super-hot demand right now

Piling regulations and corporate risks have triggered a hiring spree for the profession.

According to the latest Hays Quarterly Report, which looked at employee skills in demand for October to December 2012, auditors will be a top hiring demand in Singapore’s accountancy and finance sector in response to the focus on corporate governance and continued investment in technology.

“There is a focus on corporate governance following the introduction of new regulations, which is fuelling demand for Auditors,” says Chris Mead, Singapore and Malaysia Regional Director of Hays, a leading recruiting group. “Businesses are also investing heavily in technology, particularly within banking, which means IT Auditors are needed to guard against new risks.”

According to the Report, Product Control specialists are also sought as some banks are still offshoring their functions.

“Regulatory Reporting candidates are also needed as regulations continue to tighten and companies act to comply with FATCA and Dodd Frank, which have brought renewed pressure,” says Chris.  “The continued focus on cost reduction also makes Cost Accountants a valued asset, so we are seeing this skill set currently in demand.”

Also in demand are Project Accountants, who can re-engineer processes and systems to ultimately bring about cost savings and streamline departments, the Report found. Meanwhile, employers are willing to offer strong candidates a healthy pay increment to counteract any potential loss of annual bonus by changing jobs at this time.

“We are also finding that many employers are less open to hiring candidates from abroad than in the past
as there is a price associated with relocation costs,” says Chris. “However, with this in mind candidates who are looking to come to Singapore would certainly help their case if they are willing to cover their own relocation expenses.”