City faces audit staff shortage

city of london

Firms and businesses have entered into a bidding war to recruit staff due to
a dearth of financially qualified staff, particularly in audit and compliance.

Recruitment company Robert Walters said that employers were forced to award
huge pay rises to keep hold of staff or recruit new employees. The strong market
saw Robert Walters grow profit before tax by 41% to £11.4m for the six months to
30 June 2007, compared to a year earlier.

Chief executive and founder Robert Walters said that despite the credit
squeeze, banks were still recruiting, however, back office roles in compliance,
risk management and audit were short-staffed.

‘The shortage of qualified people is ridiculous,’ Walters said in

Further reading:

Robert Walters’ latest figures

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