Eatures of payroll calculation in the company of the big four

Abstract

Audit and consulting companies perform a number of national functions, the main of which are checking the accuracy of financial statements of legal entities and individuals, the correctness of calculating tax amounts, checking the effectiveness of business processes, internal security (including such important facilities as nuclear power plants – which is very important for Ukraine) and compliance with legally established standards. However, every year, the role of these services and the list of their functional responsibilities gradually increases. This is facilitated by both integration processes and technological innovations that require revision of functioning control systems. This is also indicated by changes in the legislative framework. The innovations introduced in recent years in the law of Ukraine «on audit of financial statements and auditing activities» have brought the state control system closer to the European model and increased the role of audit firms in shaping the country's economy. Since the information contained in audit reports is given considerable attention, both to the government and potential investors, its reliability is very important, and the quality of the analysis carried out directly depends on the availability of the audit company's labor resources and their quality characteristics, and their availability depends on the specifics of remuneration in the company. Given the significant role of personnel in the audit company activities, the issue of remuneration in them has been considered by many domestic scientists, however, given the variability of the external environment, there is the need to review the principle of calculating and paying wages in the «Big Four» companies, taking into account changes in the market of audit services. The specifics of payroll settlements with the staff of one of the subsidiaries of the «Big Four», which is engaged in audit and consulting is investigated in this paper. In the course of the research, it was developed and suggested that HR managers consider the ways proposed in the article to improve the current payroll system in order to increase the level of reliability of the company's employees ' performance assessment and reduce the staff turnover rate.