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With the Philippines being the 39th largest economy in the world, the country continues to be a promising prospect for the BPO Industry. In August 2014, the Philippines hit an all-time high for employment in the BPO industry. From 101,000 workers in 2004, the labor force in the industry grew to over 930,000 in just the first quarter of 2014. [7]
None of the "firms" within the Big Four is actually a single firm; rather, they are professional services networks.Each is a network of firms, owned and managed independently, which have entered into agreements with the other member firms in the network to share a common name, brand, intellectual property, and quality standards.
In order to make job openings known to potential candidates, companies will usually advertise their job in a number of ways. This can include advertising in local newspapers, journals, and online. [29] Research has argued that social media networks offer job seekers and recruiters the opportunity to connect with other professionals cheaply.
In the Philippines, there are employers' confederations to lobby the protection of firm owners; they also represents the business sector and employers in the country. The most widely known is the Employers' Confederation of the Philippines, which is leads as the voice of the employers in labor management and socioeconomic development. [38]
Deloitte claims it did a good job on the project. Deloitte's global CEO defended the firm's work on the Kelon matter. The firm was the auditor for thirty months from 2002 to 2004. It qualified its opinion in 2004 as to company sales, returns, and allowances. The firm resigned from the Kelon account after completing the 2004 audit.
The BPO industry in the Philippines generated $26.7 billion in revenues in 2020, [212] while around 700 thousand medium and high skill jobs would be created by 2022. [ 213 ] In 2015, official statistics put the size of the total outsourcing industry in China, including not only the BPO industry but also IT outsourcing services, at $130.9 billion.
CamEd is an institute which specializes in teaching accounting and finance. Based in Phnom Penh, and is Cambodia's leading institute of higher education in the fields of accounting and finance. More than 50% of the annual recruits of the big four audit firms in Cambodia (PwC, Deloitte, KPMG, and EY) are students or graduates of CamEd.
During his remarks, President Aquino addressed to the Filipino community a progress report on the economic growth of the Philippines, stating a 6.3 percent increase in GDP and 1.04 million jobs filled in 2014. With these statistics, he also added that the Philippines had transformed from "the sick man of Asia" to "the darling of Asia."