Accountants in the UK are still in high demand despite the impact on jobs from AI, according to new research from ICAEW.
However, the survey of mid-tier firms revealed more than two- thirds of firms felt AI would reduce demand for some early-career accountants.
ICAEW said that mid-tier firms would hire more school leavers and fewer graduates, while the role of the accountant would pivot from routine compliance and reporting to judgement, interpretation and ethical oversight by 2030.
The fall in graduate hiring could be dramatic – with a 40% fall in grads likely to be offset by a 49% rise in the employment of school leavers. ICAEW said this move was influenced by the recent increases in employer national insurance contributions, changes to Level 7 apprenticeship funding, and the impact of employment rights legislation.
The firms aren’t necessarily looking to train more accountants.
They want to hire people with expertise in data analytics, technology, and sustainability.
ICAEW CEO Alan Vallance said: “Demand for accountants remains high but the nature of early-career accounting roles is expected to change as technology absorbs routine work, creating both opportunity and tension.”
