Accounting talent shortages threaten firm growth and capacity

Accounting firms are facing structural talent shortages that are increasingly limiting business growth and service capacity. In Australia, a CA ANZ survey revealed low fill rates for critical roles, with internal auditors at 40 per cent and external auditors at 49 per cent. External auditor positions took an average of 113 days to fill. Projections suggest a shortfall of nearly 6,000 accountants by 2030, alongside a rising demand for approximately 28,000 finance-related roles by 2029.

These shortages create several operational risks, including staff burnout, delayed client acceptance, and difficulties maintaining quality control. Research from MYOB indicated that 72 per cent of accounting professionals reported talent shortages, a figure that later rose to 76 per cent among practice leaders.

To address these challenges, experts suggest that businesses move beyond traditional local recruitment. Strategies include leveraging remote work to hire across different regions or internationally, utilizing specialized recruiters, and adopting technology such as AI and automation to increase the capacity of existing staff. The shortage is characterized as both a headcount issue and a skills gap, as modern roles increasingly require proficiency in ERP systems and data analytics.