INTHEBLACK October 2026 - Magazine - Page 39
The accounting sector is facing
a sustained talent shortage
with fewer graduates entering
the profession.
Increasing the APAC pipeline
requires a system-wide response
from professional bodies,
educators and employers.
Flexible pathways and fewer
barriers to entry may help
to open the profession to
a broader range of talent.
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AS DEMAND FOR ACCOUNTANTS
continues to outpace supply across the
Asia-Pacific region, the industry is rethinking
how its talent pipeline can be built and
sustained. With fewer accounting graduates
and persistent retention problems, it is
a multifaceted issue that requires a
system-wide response.
While the challenge varies across markets,
the underlying trend is consistent. In Malaysia,
for example, an estimated 60,000 accountants
will be required by 2030, yet only about
40 per cent of accounting graduates enter
the profession. In neighbouring Singapore,
a decline in enrolment and fewer graduates
entering the field have raised concerns about
long-term sustainability.
Increasing demand for accountants
is adding to the pressure. Bruce Vivian,
head of education, member monitoring
and development at the International
Federation of Accountants (IFAC), says
an uptick in corporate reporting requirements
is a contributing factor. “However, that is
only one example,” he says. “We are also
seeing accountants play new roles in areas
such as artificial intelligence (AI) governance
and assurance. Cybersecurity is another
area where accountants are becoming
more involved, and we expect that trend
to continue.”
the impact of AI. Talk of technology taking
over the work of accountants is proving
difficult to tune out.
“We have not seen that come through
in the numbers in a meaningful way yet,
but we are anticipating that it may start
to have an impact,” says Vivian. “From our
perspective, AI should make the profession
more compelling than ever because it can
take care of some of the routine tasks that
people find less engaging.
“The challenge is that this is not the
dominant narrative at the moment,” he adds.
“That is not what people are reading in the
media and it is something that the profession
continues to grapple with.”
Vivian believes another challenge is
outdated accounting curricula.
“You might think that only matters once
students have already chosen accounting,
but often their first exposure comes through
a university business degree or even a high
school accounting class,” he says. “If that first
experience is focused solely on bookkeeping,
debits and credits and the mechanics of
accounting, many students will conclude
that it is not for them.
“That is not a full picture of why
accounting matters to organisations and
economies, or the incredible opportunities
the profession offers.”
PERCEPTION PROBLEMS
IFAC’s research includes exploring how
global trends are shaping perceptions of
the accounting profession among educators,
career counsellors, academics, professional
accounting organisations and employers.
“The typical perception is that accounting
is boring — it is just about numbers and you
sit behind a computer all day,” says Vivian.
“That does not reflect reality.”
Negative perceptions of the profession
are also being shaped by concerns about
THE PATHWAY CHALLENGE
Accounting is often associated with long
working hours, inflexible workplaces and
burnout — especially in the early years of
a career. However, research from Deloitte
shows maintaining work–life balance is a key
primary career goal for younger generations.
Rebecca Keppel-Jones FCPA, chief member
operations officer at CPA Australia, notes
compensation is also part of the challenge.
“Graduate salaries do not always compare
favourably with alternative careers, and
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