At a glance
- Artificial intelligence (AI) is creating clear winners, with tech-savvy firms growing 50% faster than peers.
- Sought-after finance professionals combine technical expertise with strategic advisory capabilities.
- Productised advisory services, team leadership and ESG reporting provide the greatest returns.
Australian accountants are at a crossroads. While AI adoption is creating clear winners, with firms that use AI growing 50% faster than their peers, technology is just one piece of the puzzle.
Finance professionals are juggling new demands: clients hungry for strategic insights, mandatory climate-related reporting deadlines and pressure to offshore routine tasks while maintaining quality client relationships.
Meanwhile, the talent crisis deepens. Research from Xero shows almost two-thirds of accounting practices struggle to find and retain the right staff precisely when they need them most.
As an accounting professional, your ability to adapt, upskill and reposition yourself professionally could be the difference between thriving and being left behind as the profession evolves without you.
The shift towards advisory
Official projections from Jobs and Skills Australia and Victoria University forecast accounting jobs growing from 238,000 in 2023 to a projected 280,000 by 2033, but the nature of the role is changing.
Executive coach Dan Auerbach says today’s most in-demand accountants combine technical expertise with strategic thinking and advisory capabilities. However, data shows only 60% of Australian accountants offer advisory services.
“The most successful finance leaders I coach are those who’ve expanded beyond technical expertise to develop strategic business partnership skills,” he says.
“They recognise that their value increasingly comes from translating financial insights into business outcomes that drive organisational success.”
Simone Boer, neuroscientist and performance coach, agrees.
“With automation permeating the accounting space, today’s accountants must go beyond traditional number crunching,” she says.
“The field naturally evolves for accountants to become specialists and strategic advisors—bridging complex financial data with sound decision-making. Growth enables accountants to keep pace with changing regulations and technology while providing stronger, more relevant insights for their clients.”
Auerbach identifies three areas where professional development produces the greatest returns for finance professionals.
“The accounting professionals thriving in my coaching practice possess three differentiating capabilities: the confidence to deliver strategic insights rather than just data, the ability to develop high-performing teams, and the skill to communicate decisively with non-financial stakeholders,” he says.
Skills to develop in 2025
Forward-thinking accountants are cultivating a specific set of high-value capabilities that AI cannot replicate, including strategic advisory, leadership and sustainability expertise.
1. Strategic insight delivery
Delivering strategic insights rather than just data requires developing consultative skills that help clients make better business decisions. Mark Waller, Managing Director of One Click Life, reinforces the importance of creating defined service offerings.
“Step one is to productise your service. Build something repeatable and efficient, and only take on clients that match what you offer. Package it, price it, and make it simple,” he says.
Popular advisory services include business restructuring, cash flow forecasting, succession planning and technology implementation guidance. Expertise in specific industries can also create natural pathways to more strategic client conversations.
2. Team leadership and communication
As firms increasingly rely on distributed teams, including offshore staff and specialists, the ability to lead and coordinate diverse groups becomes essential. Small and medium practices need skills in managing remote teams, facilitating virtual client meetings and creating communication systems that maintain quality and consistency across distributed work arrangements.
“Quality leadership training includes a deep dive into self-awareness and emotional intelligence,” says Yvonne Thompson, founder of Change Innovators.
“It will also provide the accountant with a solid understanding of the brain science of high performance and well-being.”
3. Technical and data expertise
Beyond basic software proficiency, today’s accountants need data analysis, forecasting and automation implementation skills. Employers specifically seek accountants with experience in niche ERP tools, predictive analytics and financial modelling capabilities.
Accountants can start by mastering data visualisation tools, implementing basic automation for routine tasks, and developing skills in interpreting AI-generated financial analyses.
4. ESG and sustainability reporting
With new mandatory climate-related reporting requirements coming into effect, accountants with sustainability expertise are increasingly valuable.
This specialist area requires an understanding of carbon accounting, sustainability metrics and ESG disclosure frameworks. For small to medium firms, even basic knowledge in this area can create opportunities to offer higher-value advisory services as more businesses seek guidance.
Making growth happen
Finding time for learning amid client deadlines is often the biggest challenge for busy accountants. Boer recommends starting small.
“Even listening to a podcast in the car or attending a one-hour workshop can spark momentum,” she says. “View development as an investment: professional growth isn’t optional—it’s a direct investment in your future relevance and success.”
For maximum impact with minimal time investment, experts suggest:
- Team-based learning, which creates accountability and shared knowledge. Schedule regular sessions where team members take turns presenting new developments or skills they’ve researched.
- Modular learning over time, which can lead to better learning outcomes than one-off intensive courses. “This allows for a small commitment of time each month but has a consistent drip approach to learning and practice,” Boer says.
- Pairing learning with immediate application to embed new knowledge. Learn a new advisory approach one week, then apply it with a specific client the next. This creates a feedback loop where client value justifies further investment in development.
More information on IPA’s learning resources here.
