Singapore accountancy sector salaries rise across the board as revenue grows 5.1% to S$3.7 billion
AI application is among the top workforce development priorities in the next three years, Acra says
[SINGAPORE] Accountancy professionals across all seniority levels are seeing higher median salaries here as the sector grew 5.1 per cent in 2025, adding S$177.4 million in revenue.
First-year audit assistants recorded the largest increase, with median monthly pay rising 13 per cent to S$3,400. This was followed by first-year associates, whose median monthly pay increased by 10 per cent to S$4,600.
The sector’s total revenue rose from about S$3.5 billion in 2024 to S$3.7 billion in 2025, going by the Accounting and Corporate Regulatory Authority’s (Acra) Accounting Entities Survey 2026, released on Wednesday (Nov 11).
Conducted annually since 2015, the survey tracks the sector’s economic performance and workforce trends. This year’s report, based on 2025 data, draws on responses from 238 accounting entities, representing 92 per cent of the sector’s estimated revenue.
The sector’s expansion was accompanied by an increase in employment, with its workforce growing by 579 positions, or 2.7 per cent, from 21,783 in 2024 to 22,362 in 2025.
Speaking at the Institute of Singapore Chartered Accountants (Isca) Conference 2026 on Wednesday, Acting Minister for Manpower Jasmin Lau said accountancy graduates continued to enjoy strong employment prospects, demonstrating employers’ recognition of the value of their training and skills.
“Accountancy graduates have high employment rates of more than 93 per cent, and strong median starting salaries,” she said, adding that more than 1,200 job positions remained unfilled in the sector.
Of these openings, about 80 per cent are in audit and assurance, and business advisory services.
A growing accountancy workforce
The growing demand for talent has also been accompanied by an increase in the number of resident professionals working in the sector. The resident workforce grew by 522 positions, from 16,505 in 2024 to 17,027 in 2025, accounting for 90 per cent of the overall workforce increase.
Business advisory services and audit and assurance were the main drivers of employment growth, adding 327 and 301 positions, respectively.
Administrative and support functions added 65 positions, while tax advisory and compliance services grew by 51 positions. These increases were partially offset by a decline of 165 positions in corporate support services.
To help companies address staffing gaps while providing greater flexibility for professionals, Isca is building a pool of accountancy professionals interested in taking on contract roles through its FlexConnect initiative.
“A firm with an employee on extended parental or caregiving leave can bring in qualified help, and professionals who need more flexibility can keep their skills in use,” Lau said.
She noted that while larger companies may be able to manage extended staff absences internally, smaller practices with only a handful of employees could face greater difficulties.
FlexConnect remains at the pilot stage, but Lau said she hoped the initiative would grow.
Beyond addressing immediate manpower needs, the sector is also looking to equip its workforce with skills for a changing business and technological environment.
Acra’s survey found that artificial intelligence application, ethics and governance were the top workforce development priorities over the next three years, cited by 67 per cent of accounting entities.
This was followed by advanced data analytics and visualisation (45 per cent); IT audit (26 per cent); valuation and financial modelling (18 per cent); and sustainability reporting (18 per cent).
Lau announced that Isca would sign a memorandum of understanding with the five polytechnics and the Institute of Technical Education to provide students with AI training, mentorship and internship opportunities before they enter the workforce.
Acra will also release practice guidance on auditing digital assets, as the use of emerging technologies creates new considerations for auditors and accounting professionals.
Earlier this year, Isca and the Infocomm Media Development Authority launched AIxAccountancy, an AI fluency programme for accountancy and finance professionals.
Lau noted that the profession had adapted to technological changes many times, from paper ledgers to spreadsheets and other digital tools.
“Each time, the tools have changed, but the profession’s core responsibility stayed the same: to give people confidence in the numbers,” she said.
Business advisory leads revenue growth
Revenue growth in the accountancy sector was recorded across most firm sizes, although the pace of expansion varied.
The Big Four accounting entities, namely Deloitte, PwC, EY and KPMG contributed the largest increase in absolute terms, adding S$104.9 million, or 4.3 per cent, in revenue.
Large accounting entities recorded growth of S$47.9 million, or 9.3 per cent, while medium-sized companies had revenue increase by S$19.9 million, or 12.9 per cent. Small companies added S$13.1 million, representing growth of 5.6 per cent.
Micro accounting entities were the only category to record a decline, with revenue falling by S$8.4 million, or 6.2 per cent.
Business advisory services were the biggest driver of revenue growth, recording an increase of S$115.1 million, or 12.9 per cent, from S$891.7 million in 2024.
Audit and assurance services followed, adding S$58.1 million, or 3.3 per cent, to revenue from S$1.7 billion in 2024. The segment remained the sector’s largest service category, contributing nearly half of total revenue.
Tax advisory and compliance services also recorded growth, increasing by S$19.4 million, or 3 per cent, from S$636.7 million in 2024.
In contrast, corporate support revenue declined by S$15.3 million, or 7.4 per cent, from S$207.6 million in 2024 to S$192.4 million in 2025.
