Accounting needs to modernise so we can tackle the skills gap

Our skills report reveals businesses increasingly need strategic input from accountancy teams but are struggling to train staff for it. Action is needed from both employers and government

Our skills report reveals businesses increasingly need strategic input from accountancy teams but are struggling to train staff for it. Action is needed from both employers and government

19 Nov 2025, 6:31

Almost four in five UK employers say they’ve got skills gaps in their business. That’s a huge number and it comes at a real cost.

Staff are stretched; productivity takes a hit; quality drops and recruitment costs rise. Finance and accountancy teams aren’t immune. In fact, they sit right at the heart of it.

The role of the accountant has evolved – and continues to do so. It goes far beyond crunching numbers and arranging tax and VAT returns. Our new report shows how employers want people who can lead teams, think strategically (27 per cent), analyse data (23 per cent), and guide organisations through digital change.

Yes, the technical skills still matter – things like budgeting, reporting and payroll – but they’re no longer enough on their own. Transferable skills like problem-solving (27 per cent), leadership and management (25 per cent), as well as critical thinking are now just as important.

This shift reflects the way businesses now work with their finance teams. Accountants aren’t just keeping the books balanced, they’re helping boards decide where to invest, how to manage risk and grow responsibly. That requires confidence, communication and the ability to influence.

Digital skills are climbing the list too. Employers identify AI literacy and automation (25 per cent) alongside cybersecurity (20 per cent) as crucial finance and accounting skills for the future.

Finance professionals need to be confident working with new tech and aware of the risks that come with it. The message from employers is they want a mix; training must deliver the technical, digital and human skills side by side.

Challenges employers face

Unfortunately, while most employers see training as the answer, they’re struggling to make it happen. A massive 84 per cent say they face barriers to upskilling, leading to 10 per cent outsourcing work overseas.

We need urgent action, because every outsourced role is one less chance for UK talent to gain experience, and to strengthen the long-term resilience of the sector.

The biggest problems are lack of time (41 per cent), cost, low engagement (27 per cent) and a lack of suitable training (22 per cent).

However, that doesn’t mean progress isn’t happening. A quarter of employers have upskilled staff in the past year, and one in 10 are using apprenticeships to bring in new talent.

Looking ahead, many are planning for mentoring, professional courses and certified short programmes. That’s encouraging – but employers can’t fix this on their own. They need the government to step-up too.

Recommendations for businesses:

  • Provide clear progression routes to retain and nurture talent, and partner with training providers to upskill employees in automation, cybersecurity and digital finance systems.
  • Work with training providers and awarding bodies to co-design training schemes that meet real-world business needs to provide a pipeline of talent to help your business grow.

Recommendations for government

  • Create an “SME Skills Navigator” service to help small employers access relevant finance training and apprenticeships.
  • Develop a campaign targeted at learners and employers to increase the attractiveness of apprenticeships, with a particular focus on SMEs.
  • Urgently clarify what types of short courses in accounting and finance are eligible via the new growth and skills levy, with clear timelines for implementation.

A joint effort

Finance is the backbone of every business. If we don’t tackle the skills gap, we’ll feel it across the economy – through lower productivity and innovation, weaker growth and fewer opportunities.

The good news is employers are willing to invest in their people. With the right support, they can. Everyone needs to play a part – the accounting industry, government, training providers and businesses – to ensure finance professionals have the full skillset they need to thrive.

This isn’t just about businesses getting the numbers right. Strong finance skills support better decision-making in every sector, from charities to public services to start-ups. They underpin innovation, investment and the resilience of communities.

If we build a pipeline of finance professionals with the right skills, we’re not only protecting the economy today – we’re giving the next generation of accountants the tools to grow it tomorrow.

Latest education roles from

Vice Principal – Telford 6th

Vice Principal – Telford 6th

Telford College

Director of Finance and Funding – North Hertfordshire College

Director of Finance and Funding – North Hertfordshire College

FEA

Headteacher

Headteacher

Northlands Primary School

Principal

Principal

Lift Charles Warren

Sponsored posts

Sponsored post

Apprenticeship reform: An opportunity to future‑proof skills and unlock career pathways

The apprenticeship landscape is undergoing one of its most significant transformations in decades, and that’s good news for learners,...

Advertorial
Sponsored post

Stronger learners start with supported educators

Further Education (FE) and skills professionals show up every day to change lives. They problem-solve, multi-task and can carry...

Advertorial
Sponsored post

Preparing learners for work, not just exams: the case for skills-led learning

As further education (FE) continues to adapt to shifting labour markets, digital transformation and widening participation agendas, providers are...

Advertorial
Sponsored post

How Eduqas GCSE English Language is turning the page on ‘I’m never going to pass’

“A lot of learners come to us thinking ‘I’m rubbish at English, and I’m never going to pass’,” says...

Advertorial

More from this theme

Apprenticeships

Functional skills amend among DWP’s funding fixes 

Other rule changes in the works cover visas, subcontracting, completion payments and learning support reimbursements

Billy Camden
Apprenticeships, ATC 2026

ATC 2026: DWP apprenticeships chief talks streamlining, units and assessment

Final details will come 'shortly' and released simultaneously to provide 'clarity about the future offer'

Billy Camden
Apprenticeships

Level 2 admin apprenticeship sign off delayed again

Employers hope the standard will be available for delivery from this autumn after 6 years of lobbying

Billy Camden
Apprenticeships, Colleges

Welsh college pulls plug on England apprenticeships

Leaders want to 'concentrate expertise' in Wales following latest Ofsted criticism

Billy Camden

Your thoughts

Leave a Reply

Your email address will not be published. Required fields are marked *