2012 is looking to be a good year for finance professionals. Statistics show that the increase in the hiring activity for auditors that has been observed for the past few years is still applicable now. It was also found that the most highly demanded accounting job for the year is in internal audit.
Which Sectors Are the Best for Audit Candidates?
So where should budding auditors set their sights on this year? Financial service firms as well as multi-national companies in many countries are poised as dominant employers for accountants and auditors this year. While multinational companies continue to offer great employment opportunities to auditors, the same cannot be said of the small and medium sized businesses. Thus, those who want to start an auditing career this year should look into working in auditing firms and multinational companies.
The government sector is also hiring in both internal and external auditing jobs as well as risk management and account management jobs. Government jobs don’t come with all the attractive perks that private sector jobs do, but they provide more stability and growth as the government continues to provide training schemes for its employees.
Where Are the Best Locations for Candidates to Work?
A few years back, the UK was one of the leading hot spots in audit recruitment. Unfortunately, due to the recent recession, this has cooled somewhat. Thus, auditors are now looking all over the world for other audit recruitment hot spots that will offer them a thriving career in audit.
Singapore is now widely regarded as the new financial hub, and for this reason it is now a great time to look for finance and audit jobs in Singapore. In fact, almost 12% of the country’s gross domestic product is sourced from its financial services sector. Thus, the finance industry holds the highest value among the service industries in the country and employs many of the world’s top finance professionals. This means that the budding country is now one of the hot spots for audit recruitment, with promises of high salaries and an active lifestyle.
Singapore ex-pats who are awarded permanent resident status also find it easy to receive support from the government, thanks to the CPF, a social security savings fund created especially for them. The fund can be withdrawn at age 55 and can be used for retirement and home ownership. During the first two years of residing in Singapore, ex-pats can pay a reduced rate.
Aside from the thriving financial service industry in Singapore, the country is also deemed favorable in terms of its culture, cuisine, health system, and its climate. These all contribute to the many reasons why the Asian country is now one of the best locations for audit candidates to seek job prospects in.
Australia is also a promising location for auditors for the year 2012. Australia may not be known for its high-paying salaries, but it is well loved for its low cost of living and its wealth of government benefits. Australia also offers good career prospects with tax incentives and a stable and strong economy lesser affected by the recession.
If you’re wondering which city in Australia would be best for you, the answer depends on your current situation. If you are a single worker and want a fast-paced work-focused lifestyle, the busier Sydney and Melbourne are most ideal, whereas if you have a family, the quieter landscape of Brisbane and Adelaide would suit you well.
- Middle East
The Middle East is now one of the best employers and most promising hot spots for audit professionals. Nice weather, breathtaking sceneries, and great employee incentives are some of the great benefits that foreign auditors in the Middle East can enjoy. The biggest perk of all are the tax-free salaries offered by the country.
Despite the large numbers of people coming into the Middle East for work opportunities, the area's top employing countries including the UAE, Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain continue to offer lots of great opportunities for finance professionals.
The UAE is the most cosmopolitan country in the region, where Dubai and Abu Dhabi are the wealthiest cities. These are the best places to work in, although in terms of career opportunities, especially in the business sector, Dubai is most ideal. There is a growing number of businesses in Dubai that will benefit from the presence of more auditors. Bahrain is also a good place specifically for audit professionals since the country is considered as the centre of finance in the region.
To look for a new audit job, visit CareersinAudit.com, the leading job site for auditing vacancies.