Knowledge Hub – Finance Recruitment & Accountancy Insights

EY's female-dominated leadership race signals progress in breaking gender barriers in the accounting profession. However, while it represents a step forward for diversity, merit should remain the key factor in selection, and broader diversity challenges must continue being addressed.

With the EU's Corporate Sustainability Reporting Directive (CSRD) coming in 2025, accountancy firms must invest in new talent to handle increased data and scrutiny. Firms face a skills shortage, as current teams may lack the expertise needed for effective sustainability reporting.

Accountants often find themselves in surprising roles beyond number crunching. They may fix curtain poles, cook meals, provide therapy, entertain children, and even act as private investigators. Their diverse skills extend well beyond traditional accounting duties, showcasing adaptability and client dedication.

Accountants play a key role in digital transformation, assisting clients with automation in invoicing, payroll, and real-time reporting. They provide system reviews and integration advice, using AI and machine learning to boost efficiency and compliance, guiding businesses through complex tech landscapes.

ICAEW will monitor compliance with its tougher CPD rules through sample checks on individual members and firms, focusing on support and guidance rather than penalties. Non-compliance will require corrective action, and firms’ CPD systems will undergo reviews to ensure adherence.

Using international tax accountants offers key benefits: they bring expertise in navigating complex global tax laws, help maximise profitability through effective tax planning, ensure compliance across multiple jurisdictions, and reduce risks such as double taxation and financial penalties.