Future of Accounting: Australia 2025 Outlook
- 1. 1/5 Aayushi Shah July 18, 2025 The Future of Accounting Industry: Australia 2025 Insights ncscorp.com.au/blog/the-future-of-accounting-industry-australia-2025-insights/ The future of accounting industry in Australia is being reshaped by rapid digital transformation, changing workforce dynamics, and evolving client expectations. With automation, artificial intelligence, and cloud technology streamlining traditional processes, firms are moving away from manual bookkeeping and towards strategic, insight-driven advisory. As a result, many are turning to outsourcing accounting services to stay agile, access specialised skills, and reduce operational overhead. These changes reflect broader accounting industry trends that are redefining what it means to be an accountant in 2025 and beyond. At the same time, a globalised workforce and the widespread adoption of flexible work models are challenging firms to rethink how they attract, train, and retain talent. As the profession adapts, accountants must be ready to embrace emerging technologies, sustainability reporting, and cross-border complexity. Key Trends in Accounting 2025 The future of accounting in Australia is being shaped by a series of transformative shifts. These changes extend well beyond automation, requiring a redefinition of capabilities, business models, and strategic priorities across the profession. 1. Technological Advancements: From Automation to AI
- 2. 2/5 Artificial intelligence, automation, and big data have become central to modern accounting practices. These technologies are no longer optional, they are essential to remaining competitive. The future of accounting with AI lies in enhancing human expertise, not replacing it. By streamlining repetitive tasks and providing real-time insights, AI enables professionals to shift their focus toward strategic advisory and informed decision-making. According to the World Economic Forum, AI and big data are among the fastest-growing skillsets globally. Firms that prioritise digital upskilling will lead in areas such as forecasting, financial modelling, and compliance automation. 2. The Green Transition and ESG Accountability Sustainability is now a strategic imperative. ESG (Environmental, Social, and Governance) reporting is becoming an expected standard, with regulators and stakeholders demanding greater transparency. Notably, environmental stewardship has been recognised as one of the World Economic Forum’s top 10 most valuable skills for the first time. The future of AI in accounting will likely include tools to support ESG compliance, real- time carbon tracking, and sustainability reporting. Accountants are evolving into sustainability advisors, helping clients meet regulatory obligations while aligning financial performance with environmental responsibility. 3. Geopolitical Uncertainty and Cybersecurity Geopolitical instability and economic fragmentation are creating new challenges for the accounting sector. Between 2020 and 2024, trade restrictions across G20 nations have doubled (WEF, 2023), intensifying regulatory complexity and risk exposure. As a result, the future of accounting jobs will demand far more than technical skill. Accountants will need strong digital resilience, ethical leadership, and communication capabilities to navigate increasingly complex global environments and maintain client confidence. Remote Work in the Accounting Industry Remote work is no longer a temporary solution, it’s now a defining feature of the future of the accounting industry in Australia. The shift has brought measurable benefits. With reduced commute times, fewer office distractions, and more flexible work arrangements, many firms report significant productivity gains. In fact, research shows that remote employees work an additional 16.8 days per year compared to their in-office counterparts. These gains translate directly into operational efficiency and cost savings for accounting practices.
- 3. 3/5 Yet, this flexibility introduces new challenges. Accountants are now among the top professionals at risk of burnout, second only to marketing teams. The post-COVID landscape has blurred the lines between personal and professional life, making it increasingly difficult for employees to fully disconnect outside of work hours. For firms, this means rethinking how they manage a distributed workforce. Leaders must actively foster a culture of wellbeing, support healthy work-life boundaries, and keep communication channels open to ensure remote work remains sustainable, not just productive. Best Practices for Managing a Remote Accounting Team To lead high-performing remote teams, firms should adopt a proactive approach: Set clear expectations: Define responsibilities, deadlines, and performance metrics to keep everyone aligned. Invest in the right tools: Cloud-based accounting software and secure communication platforms are essential for seamless collaboration. Prioritise connection: by scheduling regular check-ins, this helps maintain team cohesion and allows you to identify and address concerns before they escalate. Build trust: Empower staff with autonomy and use smart digital workflows to avoid micromanagement. Talent Acquisition in 2025: Key Shifts Millennials Dominate the Workforce By 2025, millennials are projected to comprise 75% of the workforce, bringing with them new expectations around flexibility, purpose, and technology in the workplace.
- 4. 4/5 Flexibility Drives Recruitment Remote work and flexible hours are now essential to attract Gen Z and millennial accounting professionals. Borderless Talent Pools Firms can hire top candidates from anywhere in Australia or globally without relocation constraints. Candidates Hold More Power With increased competition, professionals are more selective about employer brand and culture matter more than ever. Remote Onboarding is Standard Financial services outsourcing is also gaining traction, enabling firms to scale quickly by tapping into global pools of qualified professionals without increasing headcount or infrastructure costs. Accountant–Client Relationships: Evolving to Meet New Demands Adapting to Shared Remote Realities As clients also shifted to remote work, firms must modernise how they communicate, embracing digital-first interactions like video calls and real-time collaboration tools. Proactive Client Engagement Regular check-ins are now essential, especially during economic uncertainty, offering support beyond compliance. Flexibility Builds Loyalty Agility in services and communication strengthens the accountant–client bond amid rapid changes. Understanding the Ideal Client Defining a clear client profile helps firms focus on relationships that align with their business goals, lifestyle, and profitability. Cybersecurity Risks in Remote Accounting And How to Respond The rise of remote work and bring-your-own-device (BYOD) policies has expanded cybersecurity risks across the accounting industry. With sensitive financial data flowing through cloud-based platforms and unsecured home networks, the threat of phishing, identity theft, and data breaches is higher than ever. Accounting is now one of the top six most-targeted sectors for cybercrime in Australia, accounting for 4.7% of all reported cyberattacks. This reality demands immediate and robust protection strategies. Key Measures to Strengthen Cybersecurity: Implement and regularly update a comprehensive cybersecurity policy, and ensure all staff are trained on it.
- 5. 5/5 Enforce multi-factor authentication (MFA) and biometric login protocols to secure sensitive data access. Establish clear remote work security standards, including the exclusive use of company-approved devices. Appoint a cybersecurity incident manager and reinforce internal IT capabilities. Maintain all software and hardware with timely security patches and updates. Firms that prioritise digital safety can protect both their own integrity and their clients’ trust in an increasingly vulnerable remote work environment. These capabilities are essential to thrive in the future of accounting industry and stay ahead of evolving accounting industry trends. Conclusion The future of accounting is unfolding now, shaped by digital transformation, cloud solutions, hyper-connectivity, and a borderless talent market. Forward-thinking firms are embracing these shifts to drive efficiency, improve client experiences, and stay competitive. Those clinging to outdated systems risk being left behind in an industry that’s rapidly evolving. So while change may feel uncomfortable, inaction is the bigger threat. The most successful accounting practices of tomorrow are the ones that take decisive action today. Start small, start smart, but start now. Adapting to the future of AI in accounting and other critical accounting industry trends is not just necessary for survival, but vital for long-term success. By investing in the right tools, talent, outsourcing support, and forward-looking strategies today, accounting professionals can build more resilient, agile, and future-ready practices that thrive in a dynamic global landscape.