The growing importance of people issues in local audit firms

Abstract

This study sets out to evaluate the importance local audit firms give to people issues. Tomorrow's workplace draws on the thinking of what employers, together with their HR department, need to do to meet future challenges. Businesses should clearly look at their current people management strategies concerning rewards, international mobility, employee engagement, learning and development; and think of how these might change in the future. The objectives of this study are to recognize the differences in people management between small and large local audit firms, and to identify certain improvements for both, so as to achieve strategic advantages. This was achieved by analysing both groups of local audit companies. An HR Cycle was taken so as to identify the employees' stages from the day they are first attracted to the firm, until even after they end their employment contract. Their views were then compared between the two clusters and their strengths and weaknesses were identified. Accountants are a vital business asset and play a key role in commerce, industry and in both large and small organisations (Natasha 2008). Moreover, the world of work is going to become even more complex. Thus, identifying the growing people challenges in the accountancy profession today helps the organisation seize the opportunities the future offers and compete and deliver effectively; keeping in mind that tomorrow is what we mould today.