What can be done about the accounting talent shortage?

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.

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