As the world of technology, work, and study evolves, how does the accountancy profession fit? Vipul Sheth asks.
If you had the chance now, would you go into accountancy? Would (or have) your children?
It’s a straightforward question, but the factors that might influence your decision are very different to ten, 20 or 30 years ago – and they strike right at the heart of the future of the profession.
While the issue is constantly there (albeit in the background) for an accountancy outsourcer, there have been articles and Advancetrack’s own reports that have brought it to front of mind.
Re-appraising the world of work
Concerns have been raised among recruiters and businesses that the minimum wage is butting up to graduate recruitment pay in professional services, reported the FT. ‘Non-skilled labour is being rewarded over university-educated (and indebted) labour’ was one of the messages. The Times has warned that other countries are more attractive for young UK workers, and that an exodus will effectively put pressure on tax take and ultimately the affordability of the state pension.
The articles raise valid points about the cost of recruitment at starter level and that making the UK an attractive place to work is predominantly about the basic wage. The FT story though, misses one very important factor that has impacted the accountancy profession: wages at starter level have fallen behind that of other comparable sectors. This can be seen in the Accounting Talent Index 2024 and 2025 reports, which outline the long-running entry-level salary problems impacting accountancy around the globe.
The profession’s perception
And then, there’s accountancy’s image problem. It was an issue that had seemed to have eased back, but the proliferation of ‘cool’ and well-paid jobs in tech, finance and consulting have reignited it. The Accounting Talent Index 2025 highlights Xero’s Shifting Perceptions report, with accountants believing that others think the profession is boring, students see opportunities elsewhere, and the profession doesn’t do good enough a job at promoting itself.
Quite frankly, we need to make the profession an interesting and rewarding one for the next generation of potential accountants. Something that they see themselves progressing through in their career.
I speak from personal experience. As a chartered accountant and tax adviser I always sought to improve and learn new things – certainly not doing the same job forever.
Now, you could say to me: ‘You run an outsourcing and offshoring business, surely that’s not helping the profession’s attractiveness?’
To that I would argue that outsourcing is a solution to a problem, or a series of them. And, used strategically, helps build a foundation for growth and sustainability. We offer flexibility, scalability, and a professional workforce. We employ and train many accountants ourselves.
New ways of working
We are part of the changing face of the profession. Certainly, AI and automation will accelerate the need for the profession to get to grips with new ways of working.
But one fundamental thing that hasn’t changed is that practices hold a precious position as the trusted adviser to their clients. And, while the changes impacting the profession may be disruptive, this role as adviser has not changed. If anything, deeper client support is more important than ever in current economic circumstances.
However, an accountant can’t know everything. And that’s why the trusted adviser position has been one described as ‘holding the hand’ of the client, and guiding them to the help and support they require.
For accountancy practices, that means they will likely evolve to a more multi-skilled structure. We’re already seeing firms bring in fewer grads but bulking up their ‘middle’ with client-facing experts, less like a traditional ‘pyramid’. But these advisers aren’t all accountants. Technologists and subject matter experts will, I believe, directly work with accountants to drive their clients forward.
Even if the world of accountancy becomes less ‘accountancy-focused’, that doesn’t mean we won’t need accountants. But, ultimately, the work they do must be value-creating, and work that clients are willing to pay for.
Vipul Sheth is founder and MD of Advancetrack
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