Singapore’s accountancy sector adds jobs, raises pay as firms prepare workers for AI
Done well, automation could make entry-level roles more interesting.
Singapore's accounting sector added 579 jobs and increased median salaries in 2025, despite AI transforming the work accountants do. The sector's workforce grew to 22,362 from 21,783 in 2024, with revenue up 5.1% to $3.7 billion. Nearly 80% of 1,200 new positions were in audit, assurance, and business advisory services. Acting Minister for Manpower Jasmin Lau highlighted the need for firms to train young accountants to develop judgment when reviewing AI-generated analyses.
Reconciliations and first drafts, which AI is starting to handle, still require human oversight. The ACRA survey of 238 entities, representing 92% of sector revenue, found business advisory services leading revenue growth, while audit and assurance contributed nearly half of total revenue. Median salaries for entry-level positions rose, with first-year managers' median income reaching $8,250.
Firms are prioritizing AI application, ethics, and governance, as well as advanced data analytics and visualisation. ISCA has partnered with polytechnics and the Institute of Technical Education to provide AI learning opportunities, with over 3,000 students enrolled in the AI Fluency Programme. ISCA is also piloting FlexConnect to help experienced professionals find flexible arrangements with businesses needing temporary or specialist finance talent. EY and Nexia Singapore PAC received awards for their efforts in workforce transformation.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
