Accounting is a foundational capability that supports the Australian economy. It is critical economic infrastructure. But the workforce behind it is under growing pressure. New independent research from Oxford Economics Australia, commissioned by CA ANZ, examines what the profession contributes and asks whether Australia will have the capability it needs for the future.

The findings carry a warning. Demand for accounting skills keeps climbing, but the pipeline that supplies them is under increasing strain.

Key findings

• The accounting profession contributes $82.4 billion to Australia’s economy annually, around 3% of GDP
• Accounting is equivalent to the 13th largest industry in Australia
• More than 365,000 jobs supported
• $14.5 billion total tax contribution in 2024-25
• Workforce projected to grow overall to around 378,000 by 2035, an increase of more than 20%
• But a shortfall of 17,900 accounting, audit and finance professionals is forecast by 2035, concentrated in key roles and experience levels.

These findings matter beyond the profession itself. Accounting underpins financial reporting, taxation, governance, business investment and regulatory compliance across every sector of the economy. Without action, workforce shortages could affect the organisations and institutions that rely on this expertise.

The research identifies five structural factors shaping the future workforce: declining participation in accounting education, more constrained skilled migration, an ageing workforce and high attrition, increasing regulatory complexity, and the growing impact of AI and automation.

The report outlines five key enablers, each supported by priority government actions:

1. Strengthening the domestic talent pipeline
2. Maintaining access to global talent
3. Building future-ready skills and capabilities
4. Supporting workforce participation
5. Improving cross-sector collaboration and workforce planning

Meeting the challenge will require coordinated action. CA ANZ is committed to working with government, education, employers and the profession to ensure Australia has the accounting capability to support a strong, resilient and productive economy.