Deloitte Singapore’s pioneer batch of FasTrack Audit & Assurance Analysts gets a head-start in their careers

SINGAPORE, 18 August 2022 - The first batch of fresh graduates from FasTrack, Deloitte Singapore’s accelerated career program under its Audit & Assurance practice, will join the firm in September 2022 to get a head-start in their careers as Audit & Assurance Analysts. Under this exciting new program, the graduates will be able to reach significant career milestones quicker with the opportunity to be promoted to a managerial position within three and a half to four years instead of the typical five to six years.

The FasTrack program is the first-of-its kind in Singapore in the accounting sector and is designed to develop future accountants and is open to Accountancy undergraduates in the local universities. Through a 30-week period of structured internship, the program will equip undergraduates with the necessary skills and experience to perform at a higher level when they join the workforce after graduation.

Successful completion of the program will enable the undergraduates to secure full-time, permanent employment with the Audit & Assurance practice in Deloitte Singapore after graduation at a higher-entry level position and an opportunity for an accelerated career progression.

The inaugural FasTrack batch will join Deloitte Singapore’s Audit & Assurance practice this September, having completed their 30-week internship from July 2020 when they were undergraduates, and will comprise of at least 80% of Deloitte Singapore’s Audit & Assurance graduate hires.

Ms ONG Siok Peng, Talent Leader, Deloitte Singapore said, “The accounting profession must adapt to meet both the evolving needs of businesses today and the changing expectations of the next generation of accountants entering the profession. We developed FasTrack as a means to improve career pathways in the accounting industry and be a frontrunner to attract and retain young talent who are committed and passionate into the profession. This will help us ensure that we have a strong and steady pipeline of talented individuals eager to develop their career with us, each with the skills necessary to excel.”

“This program is part of our talent transformational efforts and represents a change in how Deloitte Singapore views the audit of the future. For the young analysts, this program allows those who are committed to accelerating their career to have a clear purpose as they serve our clients and stakeholders with excellence; to strive to do work that matters to them and aligns with their personal career milestones,” added Siok Peng.

The application criteria for undergraduates include possessing a strong interest in a career in Audit & Assurance and being able to commit to 30 accumulative weeks of internship that can be done in phases during their time in university.

During their internship, the students will receive specially curated training and hands-on experience in real client engagements, with a focus on data analytics and executing higher value work. Deloitte will also provide on-the-job coaching and mentoring by experienced managers as well as support for professionally recognised qualifications.

Associate Professor Damien JOSEPH, Associate Dean (Undergraduate Academics) said, “Deloitte’s FasTrack program offers an experiential education in which accounting students from the Nanyang Business School (NBS) are able to connect the dots between classroom learning and real-world audit practice. The FasTrack program is an excellent approach to prepare students to handle the evolving needs of the industry. The program is attractive to our students because it can be completed under the SkillsFuture Work-Study Degree Programme (WSDeg) as a semester-long credit bearing internship where structured audit and assurance learning is combined with work experience. The aim is to have students perform at a higher level upon graduation compared to fresh graduates.”

Ms CHUA Wan Rong, Senior Lecturer of Accounting and Faculty Advisor for the SMU Audit and Assurance Work-Study Elective (industry experience with Deloitte Singapore), Singapore Management University said, “This extended period of internship allows students to fully immerse themselves in the real working life of an auditor, actively participating in the various stages of an audit engagement. Unlike the usual 10 weeks internships, students gain deeper understanding on different sections of the audit working papers and pick up effective communication and time management skills. Many of them appreciate the varied and comprehensive learning experiences as it provides them with exposure to various industries and a realistic preview of the expectations of this profession.”

Mr Shariq BARMAKY, Audit & Assurance Regional Managing Partner, Deloitte Southeast Asia said, “As the accounting sector evolves, the standard technical skills are no longer enough for future accountants. To be able to thrive in their careers, accountants must acquire varied skills – possessing soft skills in the areas of communication and decision-making, and being comfortable with emerging technologies that are changing how accountants work. I am confident that our incoming FasTrack graduates and the graduates to come will not only be able to meaningfully contribute to our continued success as an organisation, but also add to the vibrancy of the profession.”
 

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