The accounting profession in Asia is facing a growing challenge—attracting and retaining skilled professionals.  A recent survey conducted by AICPA & CIMA, in collaboration with the Global Accounting Alliance (GAA), the Confederation of Asian and Pacific Accountants (CAPA), and the ASEAN Federation of Accountants (AFA), reveals significant concerns across 19 jurisdictions in the region.  The findings highlight a broad consensus that there is a shortage of professional accountants, with factors such as compensation, a negative ‘image’, and the length, cost and nature of qualification programs contributing to this issue.  However, many professional accountancy organisations (PAOs) are actively implementing strategies to reverse this trend and strengthen the profession’s future.

(This article sets the stage for an upcoming CAPA webinar series where experts and leaders will share insights on these strategies in action)

The Root Causes of the Talent Shortage

While not all PAOs report shortages, most acknowledge significant talent gaps at various levels of employment.  The most cited reasons include:

• Uncompetitive Compensation – For the majority of respondents in North Asia, accounting salaries are often less competitive compared to other career options.

• Work-Life Balance and Job Complexity – More pronounced in Southeast Asia, excessive working hours and job pressures discourage new entrants.

• Inflexibility of Professional Programs – Many aspiring accountants find the full qualification process costly and/or inappropriate.

• Limited Career Advancement Opportunities – A few PAOs in South and Southeast Asia note that slow career progression contributes to attrition.

• Talent Migration – While migration does not affect the global supply of accountants, one-way movement from jurisdictions with already limited talent pools can worsen local shortages.

Strategies to Address the Shortage

To combat these challenges, PAOs across Asia are implementing targeted strategies aimed at making the profession more attractive and accessible.  These strategies include:

1. Public Relations and Image Campaigns

Public perception plays a crucial role in attracting talent.  PAOs are engaging in extensive public relations campaigns to enhance the image of the profession.  Many organisations are:

• Conducting outreach programs in high schools and universities to promote accounting careers.
• Leveraging social media, video content, and live events to engage younger audiences.
• Collaborating with regulators and industry bodies to create educational expos and career fairs.
• Organising industry events that highlight the success stories of professional accountants.

These initiatives also offer an opportunity to showcase the profession’s benefits — including international mobility, career progression, gender inclusion, technology skills, and work in climate and sustainability.

2. Modifying Professional Qualification Pathways

Recognising that the length and inflexibility of professional certification programs deter many potential candidates, several PAOs are:

• Introducing micro-credentials and new certifications to provide alternative pathways.
• Offering modular courses that allow candidates to earn partial qualifications before committing to full certification.
• Clearly outlining the competencies achieved at each stage of a qualification program, thus allowing for flexible exit points.
• Adjusting entry requirements to accommodate individuals with diverse educational backgrounds.
• Partnering with universities to integrate professional accounting programs into academic curricula, streamlining the transition from education to certification.

3. Collaborating with Academia to Improve Education

To make accounting education more appealing and relevant, many PAOs are:

• Working closely with universities to modernise curricula and incorporate industry trends such as digital finance and data analytics.
• Introducing interactive learning models, including case studies and simulations, to better engage students.
• Providing scholarships and financial assistance to encourage students to pursue accounting degrees.

 4. Advocating for Higher Compensation and Better Work Conditions

Although fewer PAOs are actively lobbying for higher salaries, there is growing recognition that compensation must be competitive.  Some PAOs are:

• Engaging with employers
  –  to highlight the benefits of improving remuneration and offering incentives.
  –  to link compensation with, and fully reward, competencies attained by trainees at key stages of their journey to full accreditation (and not wait until they have fully qualified).
• Encouraging firms to implement flexible work arrangements and reduce excessive workloads to improve work-life balance.
• Promoting career advancement programs that provide structured pathways for professional growth.

5. Supporting Changed Working Environment in Accounting Firms

Some PAOs are involved in discussions around modernising business models to improve employee retention.  These efforts include:

• Encouraging firms to adopt technology-driven solutions that automate routine tasks and enhance efficiency.
• Promoting leadership and management training programs for senior accountants to develop stronger workplace cultures.
• Facilitating knowledge-sharing initiatives that allow professionals to stay updated with global industry trends.

Measuring What Works

PAOs are continuously evaluating the impact of their initiatives.  Survey respondents ranked the following as the most effective approaches:

• Public relations campaigns – Most impactful, these campaigns help shape public perception and attract young talent.

• Revising qualification pathways – Creating new entry routes and certification options provides greater flexibility for aspiring accountants.

• Collaborating with academia – Strengthening university partnerships ensures that accounting education remains relevant and engaging.

• Supporting changed working environment – Encouraging firms to modernise practices supports long-term talent retention.

• Compensation advocacy – While effective, influencing salary structures remains a challenging area for PAOs.

A Collective Effort for a Sustainable Future

The talent shortage in Asia’s accounting profession is a complex issue that requires a multi-faceted approach.  PAOs, educational institutions, employers, and policymakers must work together to implement sustainable solutions.  By enhancing the profession’s image, modernising qualification programs, improving education, advocating for better compensation, and supporting changed working environment, the accounting industry can build a strong and resilient workforce for the future.

With continued collaboration and innovation, the accounting profession in Asia can remain a vital and attractive career choice, ensuring a steady supply of skilled professionals to meet the evolving demands of the global economy.

What’s Next?

🔔 CAPA Webinar Series Coming Soon

Join experts and PAO leaders as they discuss how to turn these strategies into action.
🌏 Gain real-world insights, practical case studies, and take part in a live Q&A.

👉 Register Interest Now — Don’t miss your chance to be part of the solution.

Acknowledgments

We thank AICPA & CIMA, the Global Accounting Alliance (GAA), and the ASEAN Federation of Accountants (AFA) for their collaboration on the regional survey. We also appreciate the contributions of all participants across the 19 jurisdictions involved.

Contact Information

For questions, feedback, or collaboration inquiries, please feel free to contact Rachel Chee.