Australia’s Accountant Shortage: A Quiet Crisis Disrupting Business as Usual

Australia is facing an acute shortage of accountants in 2025, significantly impacting financial operations across sectors. Chartered Accountants ANZ reports that over 90% of firms are struggling to fill key accounting roles, with vacancies often remaining open for extended periods.

The shortage is placing mounting pressure on existing staff, leading to burnout, delayed reporting, and increased compliance risks especially in regional areas where the talent pool is even more limited.

A major contributor to this crisis is the sharp decline in accounting program enrolments. Participation in the Accounting Professional Year program dropped from 7,122 in 2018 to just 340 in 2024, signalling a shrinking pipeline of future professionals.

As seasoned CPAs retire and fewer graduates enter the field, the talent gap continues to widen. In response, many organisations are partnering with experienced accounting firms to access scalable, reliable support and maintain business continuity in this challenging landscape.

The Talent Pipeline Is Drying Up

Australia’s accountant shortage isn’t just a result of poor hiring luck. It’s systemic.

• Fewer students are choosing accounting: Enrolments in the Accounting Professional Year Program dropped from over 7,000 in 2018 to just 340 in 2024. That’s a 95% plunge in six years.

• Retirements are accelerating: Nearly 40% of Australia’s accounting workforce is over the age of 45. With retirements outpacing new entrants, the experience gap is growing.

• Graduates are looking elsewhere: Fields like fintech, data science, and software engineering offer faster career progression, flexible work, and better pay making them more appealing than traditional accounting.

• Barriers to certification remain high: CPA pathways, while prestigious, are expensive and time-intensive, discouraging many potential candidates.

• The educator pipeline is also shrinking: With fewer accounting lecturers and mentors available, the industry is facing a compounding issue fewer students and fewer teachers.

Ripple Effects Across Industries

This shortage is more than a staffing challenge it’s a business continuity risk.

• Financial delays and compliance risks are becoming common. With fewer accountants, companies face lags in tax reporting, auditing, and payroll processing.

• Existing staff are burning out. As workloads increase, professionals report stress, reduced productivity, and growing dissatisfaction.

• Error rates are rising. A diminished talent pool means higher potential for mistakes in tax filings, audits, and financial statements especially for SMEs.

• Economic impact is real. Without accurate reporting and reliable financial data, investor confidence erodes and lending decisions suffer. The talent gap doesn’t just hurt firms it threatens financial transparency at a national level.

Is There a Way Forward? Yes But It Requires Collective Action

The good news? Solutions are emerging. But they require a multi-pronged, collaborative effort.

1. Redesigning Accounting Education

Universities are modernising their courses to make accounting more tech-enabled and data-savvy. Programs at UNSW and the University of Melbourne now integrate analytics and digital tools to align with modern demands.

2. Improving Certification Accessibility

CPA Australia has introduced remote exams and payment plans to ease the financial and logistical burden of certification, particularly for regional and working professionals.

3. Promoting the Profession’s Impact

National campaigns by CA ANZ and CPA Australia are shifting public perception of accounting from "number crunching" to strategic business advisory and societal impact.

4. Leveraging Outsourcing and Automation

Firms are increasingly turning to external accounting partners to manage capacity. Meanwhile, over 52% of practices are now using automation for routine tasks, freeing up internal teams to focus on high-value work.

5. Reinvesting in People

Firms are responding to burnout with wellness programs, flexible work models, and even four-day workweek pilots. According to the latest CA ANZ survey, 68% of accountants say flexibility is their most valued benefit.

The Future Is Resilient If We Act Now

While challenges persist, the future of accounting in Australia is steadily improving. Universities are updating curricula and addressing educator shortages through stronger industry partnerships.

Professional bodies like CPA Australia and CA ANZ are enhancing access to certification with flexible learning options and financial support.

At the firm level, accounting outsourcing and automation are easing workloads, while investments in wellbeing and flexible work are helping retain talent.

With coordinated efforts from educators, policymakers, and industry leaders, the profession is evolving into a more modern, resilient, and sustainable field well-positioned for growth in 2025 and beyond.