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Shortage of fresh graduates could force consolidation in Singapore’s accounting market

Published Wed, Mar 29, 2023 · 05:50 AM

In the autonomous universities, total enrolment across all years in accountancy degree programmes fell to 5,182 in 2021, down from 5,650 in 2017. PHOTO: BT FILE

SINGAPORE’S smaller accounting firms are offering higher pay to combat competition among employers for fresh accountancy graduates.

But they are still struggling to hire, and experts say the outlook for such firms remains poor, given a shrinking talent pool.

The Big Four firms are outbidding small and medium-sized practices (SMPs) for accountancy graduates, said industry players.

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