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Interest in auditing jobs falls

INTEREST in auditing jobs is waning in Slovakia, the Slovak Chamber of Auditors (SKAU) reported in late July, due to growing pressure on auditors. The profession has been subject to greater supervision since the Audit Oversight Office (ÚDVA) was launched in 2008. Responsibilities have increased and pay has fallen because of the economic crisis, the SITA newswire wrote.

INTEREST in auditing jobs is waning in Slovakia, the Slovak Chamber of Auditors (SKAU) reported in late July, due to growing pressure on auditors. The profession has been subject to greater supervision since the Audit Oversight Office (ÚDVA) was launched in 2008. Responsibilities have increased and pay has fallen because of the economic crisis, the SITA newswire wrote.

“The pressure on auditors is bigger than in the past, responsibility [when performing an audit] is higher and remuneration has not been in line with the increasing pressure on auditors,” said SKAU president Ondrej Baláž, as cited by SITA, perceiving the launch of the ÚDVA as a consequence of world developments. “This tendency is [seen] not only in Slovakia, but also in other countries of Europe.”

Baláž added that large audit firms are less affected by the drop in applicants as many young people still want to get a job with these often well-known firms. They do not do this only because they want to be auditors, but also because working with a large audit firm is a good reference on their CVs. Despite this, he nonetheless notes lower interest in auditing among young people.

“Auditor’s assistants numbered 1,600 four years ago; today we have about 800 of them,” Baláž said.
According to Baláž, the position of auditors in Slovakia is worse than in countries with longer auditing traditions.

The ÚDVA registered 807 active auditors in 2012. Compared with the previous year this meant a drop of 13 auditors, SITA reported. The office further registered 236 active audit firms. In 2012 it erased 251 auditors from the list of auditors and 139 from the list of audit firms.

The ÚDVA however pointed to a positive age-related development. While the average age of auditors erased from the list of auditors was over 65, the absolute majority of new auditors are aged 35 and younger.

Topic: Finances and Advisory


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