A Brief Overview of the Accounting Industry in Singapore

A study done by SkillsFuture Singapore in 2017 estimated that there were 100,000 accountancy professionals in Singapore alone and in the past few years, the accountancy sector has been experiencing robust growth ranging from 5% to 9%. This is an indication of how well-performing the accountancy sector is!

Types of Jobs in the Accounting Sector

Despite the large base of accountants in Singapore, a common misconception people have about the accounting sector is that the only job available is that of bookkeeping, which they believe will be automated away in a matter of years. However, they are absolutely wrong on this as the accounting sector has a variety of jobs that require a large range of skills, such as analytical, forecasting and investigative skills. 

Here is the breakdown of the more popular jobs within the accounting sector.

Job RoleAuditorBudget AnalystBusiness Valuer Financial AnalystTax Accountant
Job DescriptionProvide objective, professional advice to  management to help ensure the organisation meets its goals and objectivesFoster and maintain quality and continuous improvement in the valuation processApply the relevant valuation related standards and guidelines consistent with the subject matter and the purpose of the valuationReview the completeness of the financial accounts and cost accountingProvide country and cross-border tax advisory and strategies, review tax implications and highlight tax risks in draft business agreements
Required EducationBachelor’s Degree or other equivalent qualifications and at least 5 years of relevant internal audit experienceBachelor’s Degree in any discipline with Chartered Valuer and Appraiser certification (and equivalent) or other relevant qualificationsBachelor’s Degree in any discipline or equivalent

Advanced Diploma in Management Accounting or Bachelor’s DegreeBachelor’s Degree
Companies they can work inPrivate companies, public companies, government agenciesPrivate companies, nonprofits, government agenciesLocal, state companiesPrivate companies, public companies, government agenciesLocal, state, and federal individuals and companies

Career Pathways

Careers in the accounting sector will also be given opportunities to take on managerial and directorial roles later on in their career. Attached is a career roadmap prepared by SkillsFuture SG for those working in the accounting industry. Do note that the salary shown is a general figure and should not be assumed to be the same across all companies. 

Upskilling Oneself

Other than needing to keep up with any changes to the accounting and legal standards, accounting professionals often take on extra certifications and courses to upgrade themselves, especially in light of technological developments. They also take up professional qualifications such as the Chartered Accountant, ACCA or Accredited Tax Professional examinations to increase their professional credentials.

These professional qualifications will aid the accounting professionals in climbing up the corporate ladder, as they will be more recognised and trusted to take on supervisory and managerial roles to guide the newer associates. 

Take a look at our previous article here to learn more about the different types of accreditations within the Accounting Industry in Singapore. 

The article only covered the few main roles Singaporean accounting professionals take up, but the entire industry encompasses a larger variety of careers. There are endless opportunities out there as an accounting professional, so do not be afraid to take the leap forward and join the accounting sector! 

Celesdia SOH Jia Hui
Business Development Associate

Chrislyn WONG Shu En
Business Development Associate

Nur FADHILAH Bte Abd Fazil
Business Development Associate

Michelle CHEN
Business Development Associate


Ryan Adnin GOH

MBa, Certified Employment Intermediary  (KAH)

Director of Advisory