NEWS

A global financial sector survey by the Association of Chartered Certified Accountants (ACCA) has found generational differences in workplace patterns, raising concerns over their impact on financial services talent development.

The findings form part of the ACCA’s 'Global talent trends 2026' study, which surveyed more than 900 professionals across the worldwide banking and financial services industry.

The research examined views on working arrangements, cross-generational collaboration, career aspirations, AI, sustainability and social impact.

The report showed that more than half (52%) of Generation Z respondents work entirely from the office, compared with 33% of Generation X and 14% of Baby Boomers.

Physical workplace attendance is widely viewed as advantageous for career advancement, with 55% of respondents indicating that on-site presence positively influences promotion prospects.

In addition, 61% of sector employees favour employer mandates requiring staff to be in the office for a designated number of days.

The research also highlighted apprehension regarding automated recruitment.

Unease over the application of AI algorithms in recruitment processes was reported by 55% of respondents, an outlook also shared by 56% of board-level executives.

Demand for purpose-led positions remains notable. Some 59% of respondents want future finance jobs to address environmental and climate issues, while 64% target positions that deliver positive social contributions.

Shifting demographics are also projected to influence the workforce.

Participants identified greater appreciation for the contributions of older personnel as the most pressing diversity issue.

Remuneration concerns represent another major factor, with ongoing cost-of-living pressures affecting employee expectations and leaving 54% dissatisfied with their present compensation.

Regarding automation, 52% of respondents remain apprehensive about the prospect of AI affecting their employment, despite 81% expressing confidence in their capacity to acquire AI-related competencies.

Additionally, around 57% of participants reported that job-related pressures negatively impact their mental health.

ACCA Skills, Sector and Technology head Jamie Lyon said: “Time spent with older and often more experienced colleagues in the workplace is an important part of gaining useful real-world experience in the workplace for younger employees, and it is helpful for driving more effective cross-generational collaboration at work.

“This mismatch also carries possible implications for future skills development and workplace culture assimilation.

“Financial services employers need to carefully consider how best to ensure a balanced approach to office presence to optimise workforce collaboration and learning opportunities, particularly as the data also shows that the majority of employees' preferred working pattern is hybrid working.”

CPA Australia has called for prompt measures to tackle the country’s auditing workforce, cautioning that future capacity across the profession can no longer be assumed as requirements for assurance services continue to expand.

The professional accounting body published the advisory to coincide with Auditor Proud Day.

It said that a smaller pool of Registered Company Auditors (RCAs) is serving a large, complex market vital to investor confidence and the economy.

CPA Australia audit and assurance lead Tiffany Tan stated that Auditor Proud Day provided an opportunity to acknowledge the economic value delivered by auditors whilst addressing the structural difficulties confronting the sector.

Tan said: “Auditors play a vital role in maintaining trust in financial reporting, supporting investment and helping Australia's markets operate with confidence.

"Today is about recognising that contribution, but it is also a reminder that Australia's audit workforce pipeline needs attention.

“We need to attract more people into audit, create clearer pathways for progression and ensure experienced professionals remain in the profession."

Tan observed that broadening assurance mandates, particularly emerging obligations around climate-related disclosures, will place extra pressure on personnel who are already operating under capacity constraints.

Consequently, CPA Australia has called on the Treasury to position labour supply, recruitment pipelines and staff retention at the centre of any forthcoming audit reform initiatives.

The body outlined a talent strategy targeted at attracting, training, advancing and retaining audit professionals.

The framework incorporates clearer routes to achieving RCA status, tailored skilled migration programmes and enhanced data collection regarding actual audit capacity.

Tan commented that regulatory updates must work to bolster market trust in the audit process without diminishing the sector's ability to support commercial enterprises and the investment community.

In a recent submission to the Treasury’s review of accounting, auditing and consulting practices, CPA Australia called for the direct regulation of audit practices.

It also recommended stronger surveillance and enforcement powers for ASIC, greater transparency and proportionate accountability measures.

The Hong Kong Institute of Certified Public Accountants (HKICPA) has signed a memorandum of understanding (MoU) with the Hong Kong Baptist University (HKBU) to nurture accounting and business talent.

Through HKBU’s School of Business, the two organisations will provide students with sustainability skills and knowledge.

The three-year MoU is the first such agreement the HKICPA has concluded with a local higher education institution.

Under the partnership, the HKICPA and HKBU will expand support for students, including those outside accounting disciplines, in professional development and career exploration across accounting, auditing, sustainability and related business fields.

This support is designed to help students understand professional qualification pathways and career routes at an earlier stage.

HKICPA president Stephen Law said: “HKICPA and HKBU have been maintaining a close cooperative relationship.

“The signing of this MoU signifies the translation of our shared vision to nurture outstanding talent into concrete action.

“Accounting is the global language of business, and we expect students from diverse academic disciplines can gain early insight into the accounting profession's multifaceted career pathways and unlock wide-ranging opportunities across the business world.

“At the same time, as the green economy becomes a global prevailing trend, HKICPA, as Hong Kong’s sustainability disclosure and assurance standard setter, has always been committed to driving professional training in relevant fields.”

Drawing on academic and industry expertise, the institutions also plan to organise seminars, sharing sessions and networking events.

These sessions will address subjects such as sustainability reporting and assurance, employment opportunities and industry developments, while promoting sustainability education across business and accounting.

The HKICPA has collaborated with local tertiary institutions to highlight the range of career paths available in the profession, aiming to build awareness among students, aid early career planning and maintain a steady talent pipeline for the industry.

The institute stated that it will work with higher education bodies and stakeholders across sectors to train capable, adaptable and sustainability-focused professionals, supporting Hong Kong's position as an international financial centre and professional services hub.

The Financial Reporting Council (FRC) has published the 24th edition of its Key Facts and Trends (KFAT) report, providing an overview of the UK’s accountancy and audit sectors.

The report, based on data from 30 of the 33 audit practices with public interest entity (PIE) clients, shows that the number of accountancy students in the UK and Republic of Ireland (ROI) rose between 2024 and 2025, despite a global decline.

According to the latest KFAT edition, the combined number of students in the UK and ROI increased by 0.9%, from 154,905 in 2024 to 156,367 in 2025.

The increase follows several years of falling student numbers across the UK and ROI.

Membership of accountancy bodies also grew during the period.

In the UK and ROI, the figure rose by 2.5% year-on-year to 418,986 in 2025. Meanwhile, worldwide membership rose by 2.9% to 641,474 over the same one-year period.

Among PIE auditors, the five largest companies outside the 'Big Four' expanded their share of FTSE 250 audits to nearly 18% in 2025, compared with around 13% in 2024.

The wider audit market continued to consolidate, with the number of registered audit businesses falling by 9% to 3,421 in 2025.

Last month, the FRC issued its Annual Review of Corporate Reporting covering the 2025/26 cycle.

According to the findings, corporate disclosure levels across FTSE 350 businesses held stable, while the gap in reporting performance between large listed corporations and other organisations narrowed further.

The Association of Chartered Certified Accountants (ACCA) and the University of the West Indies (UWI) Global Campus have partnered to support accounting education, professional development and student progression across the Caribbean region.

The organisations formalised the arrangement through a memorandum of understanding.

The three-year agreement covers ACCA accreditation and programme exemptions, the creation of a dual-award route, professional accounting opportunities, and development initiatives for students and faculty.

The agreement also sets out plans to establish pathways between the Global Campus’ accounting programmes and the internationally recognised ACCA Qualification.

A central element of the partnership is the proposed alignment of the UWI Global Campus’ BSc Accounting curriculum with the ACCA’s global standards.

This is intended to support an application for ACCA accreditation and relevant programme exemptions for qualifying students.

The two institutions also plan to develop a dual-award route connecting the BSc Accounting programme with the ACCA’s Advanced Diploma in Accounting and Business.

The pathway would combine academic and professional study to support career development and mobility.

UWI Global Campus pro vice-chancellor and principal Francis O. Severin said: “This partnership with ACCA will blossom into excellent opportunities for our accounting degree students and alumni.

“We view this development as pivotal for our Campus and our students. It is truly an exciting time.”

At postgraduate level, the partnership will consider incorporating the ACCA’s Strategic Professional papers into the UWI Global Campus’ proposed MSc in Accounting programme.

Students will also be able to take part in selected ACCA events and hear from ACCA members about their professional careers.

Faculty will be invited to ACCA tutor-development sessions and technical events aimed at strengthening teaching and professional skills.

ACCA Caribbean head Paula Marcelle-Irish said: “ACCA is honoured to formalise this partnership with the UWI Global Campus, deepening our shared commitment to strengthening the accounting profession across the Caribbean.

“This collaboration creates a powerful bridge between academic excellence and professional achievement, opening new pathways for students to progress towards the ACCA Qualification and equipping the next generation of finance professionals with the skills and global perspective to shape the future of the region.”