The Big Four professional services firms — among the largest employers of graduates globally — are drastically rethinking their hiring practices as technology transforms the way companies are audited.
As parts of the audit process are automated, and firms embrace artificial intelligence, much of the mundane administrative work often given to entry-level employees is being eliminated. This has led to predictions of a significant fall in graduate recruitment at some of the biggest auditors.
“Over time our graduate needs are coming down,” said Steve Varley, chairman and managing partner for the UK and Ireland at EY. “We hired 650 graduates in 2010 and 1,200 graduates in 2015. Given the rate at which technology is speeding up audit, that number could drop by 50 per cent in 2020.”