Accounting sector revenue and workforce grow as salaries rise 6% to 13% across ranks

Singapore’s accounting sector recorded growth in both revenue and workforce size last year, with salaries generally rising by 6% to 13%, according to a new survey. Median monthly salaries started at S$3,400, reaching S$14,500 for directors.

The Accounting Entities Survey 2026, released by the Accounting and Corporate Regulatory Authority (ACRA) on Wednesday (11 November), showed that total industry revenue rose 5.1%, from about S$3.5 billion in 2024 to about S$3.7 billion in 2025.

Business advisory services were the main driver of growth, with revenue increasing by S$115.1 million, or 12.9%.

Revenue from audit and assurance services grew 3.3%. This remained the largest service category, accounting for nearly half of total industry revenue. Revenue from tax advisory and compliance services rose 3%, while that from corporate support services fell 7.4%.

The accounting sector’s workforce grew by 579 people, or 2.7%, to 22,362 last year. The number of local resident employees rose by 522 to 17,027, accounting for 90% of the overall increase. The accounting firms surveyed currently have 1,200 job vacancies.

The survey also showed that median monthly salaries rose across all ranks in the accounting sector. For audit assistants in their first year in the role, the median monthly salary increased by 13%, from S$3,000 to S$3,400. For first-year audit associates, it rose 10%, from S$4,200 to S$4,600.

Median monthly salaries for senior audit associates, managers and directors in their first year in those roles rose to S$5,800, S$8,250 and S$14,500 respectively, with increases ranging from 6% to 7%.

The report said the salary increases reflected employers’ efforts to improve remuneration packages and overall employment conditions to attract and retain accounting talent.

The survey also found that artificial intelligence (AI) applications, ethics and governance were accounting firms’ top priorities for workforce skills development over the next three years, cited by 67% of respondents. This was followed by advanced data analytics and visualisation (45%), information technology auditing (26%), valuation and financial modelling (18%), and sustainability reporting (18%).

The survey, based on 2025 data, gathered responses from 238 accounting firms, which accounted for 92% of the industry’s estimated total revenue.