Every time I have dinner with my SGV friends and colleagues, our number dwindles. The reason being that the opportunities out of the Country are numerous especially for those with at least 3 years experience in Audit. With the Global standard starting to be the same, the demand for experienced Auditors/CPAs increases. Since the work ethic of the Filipino CPA defies regular time which is beyond the global standard, the world is importing the work ethic and the uncompromising sense of ownership on the Global scale.
The remaining CPAs can now relate to how Luke Skywalker felt being the last Jedi in Starwars. In their case, the last CPA/Auditors. It probably is a tougher case for those who remained in audit as the layer of experienced auditors is becoming thinner by the minute and in its place, a lots of young bloods and quite a few high bloods. It will balance out eventually as the CPA passing rate has gone up but the trend is still ongoing.
It’s a global market and the door is wide open. Even the last of the Auditors get some perks as the supply of experienced CPAs/Auditor decreases, the demand for them increases as there are more requirement for local positions. It’s quite a rosy picture for a dynamic profession and the complicated part about it is that the rules of the standards are changing and everybody needs to catch up real fast. Change is good but we need to adopt in order to make the most out of it.