AI won’t reduce the need for new accounting entrants: CA ANZ

Upon its launch, Simon Hann, CA ANZ group executive education and marketing, said: “Aspiring future CAs, employers, and members have told us that the program should be more flexible to support individuals from diverse backgrounds, which is why we’ve created a highly supported study program that, for the first time, people can start anytime and undertake their exams on demand.”

“Last year, more than 10 per cent of candidates entering this new pathway were from non-accounting degrees,” a CA ANZ spokesperson told Accountants Daily.

This is in light of the accounting shortage found in a CA ANZ survey earlier this year. 

Recent MYOB research indicated that seven in 10 (72 per cent) of accounting professionals felt that there was a talent shortage in the sector.

CA ANZ last year found that taxation accountants were at the highest risk of a talent shortage, estimating a 6,000-accountant shortfall by 2030. Demand for accountants, auditors, and finance roles is also forecast to rise by approximately 28,000 roles by 2029. 

The conversation around AI taking over accounting roles is not an isolated one, with new skill sets emerging as crucial to mitigating its impacts. Despite this, the spokesperson said that the body does not see evidence that technology will reduce the need for young accountants.

“That is why we have embedded AI across the CA Program while continuing to emphasise professional judgement, ethics and critical thinking, so graduates can work alongside AI in practice,” the spokesperson said. 

In his keynote at the ACE26 Accounting Conference & Expo, CA ANZ group executive of advocacy, public and government affairs, Damian Ogden, stressed the importance of the profession inspiring young people to see accounting as a career of purpose, impact and possibility.

“[The program creates] an entry into the profession that is both rigorous and inclusive, a pathway that prepares future chartered accounts to meet the needs of business regulators and society,” Ogden said.

“If we get this right, if we modernise pathways, strengthen culture and show the next generation what the professions stand for, we will attract the talent we need to keep accountants in the trusted adviser role for decades to come,” Ogden added.

The CA ANZ spokesperson said: “We know the profession continues to face talent pipeline pressures, which is why CA ANZ has focused on broadening access through new and expanded pathways into the profession, as well as encouraging young people to consider a career in accounting through our Make Epic Things Happen campaign.”

With the support of more than 60 employers in Australia and New Zealand, the body said that its newly launched CA Fundamentals pathway for high school graduates has shown “strong progression” from the pilot cohort, the spokesperson added.

These programs' key objective was to broaden access to the profession to address the skills shortage and create pathways for individuals from non-accounting backgrounds.