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12 Jan 2010
Nearly half of all accountants would prefer to be doing something else in the next five years, according to research by accountancy software provider E-conomic.
The increasingly onerous regulations, concerns over inflation, and discord with HMRC have brought gloom to the profession.
When asked: "What are you most looking forward to in the next five years," the majority of respondents answered "retirement".
Just fewer than 90% said over time it will become tougher to keep up with tax and financial reporting regulations with just over half, 57%, claiming HMRC will have a more direct role in regulating the profession's work and processes in the future.
Over a quarter of the accountants surveyed believe they will be sending all their compliance work offshore for processing within the next five years, with three quarters seeing themselves moving away from their traditional role to a more profitable consultant and business adviser position.
More than 80% of the accountants felt in the future it will become an important part of their job to advise clients on the best use of IT to optimise profit and efficiency.
Over a third see themselves working in a totally paperless office in the next five years, and just fewer than half see themselves "dipping" into clients' information via cloud based systems and not being tied down to a specific office.
Anders Bjornsbo, E-conomic’s operational director, said: “It’s alarming that half the accountants we spoke to said they were thinking of leaving the profession. While that’s unlikely to happen, it is perhaps illustrative of the dissatisfaction and disillusionment felt by accountants today."
"The need for accountants to embrace technology, and the speed of change brought about by online technology has been the elephant in the room for too long. While for most the totally paperless office remains an unattainable vision, the responses we received to our survey clearly show that technology is firmly at the centre of the future of accountancy," he added.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment
No respect
The government have no respect for our role in society. The job has just got harder and harder, most of the day being taken up argueing with Idiots.
This job just does not pay enough anymore for the level of intelligence required - the technology advancements just bring extra problems and are adding to the workload that no one can afford to pay for. The profession has no future !
Posted by: Spike, 12 Jan 2010 | 00:00
But why?
Surely, increased complexity is a reason to stay in the profession, as it will lead to higher levels of remuneration.
I think the fact that nearly half want to be doing something different within the next 5 years or are looking forward to retirement is a telling indictment, and perhaps explains the fall in standards of client service.
Still, it's great news for the rest of us!
Posted by: Nigel Davies, 12 Jan 2010 | 00:00
Increased Remuneration-Laughable
I laughed so hard at the thought that this would result in increased remuneration. HR groups have no concept of what accountants do or endure, no respect for the profession and the salaries reflect this. at my workplace, accountants are most poorly paid in the company and each time subject is broached with HR, they pooh-pooh the concerns and call it "finance whining". and most CFO's are concerned with the budget starting with their own area so keep the salaries down and they get their bonus!
Posted by: Nina, 13 Jan 2010 | 00:00
Perhaps Accountancy Age needs to employ one of them.
When Accountancy Age has an article headliner which reads "Majority of accountants want to do something else in the next five years" and then begins the article with "Nearly half of all accountants would prefer to be doing something else in the next five years", it makes me think they need an accountant of their own. When did nearly half become a majority?
Posted by: Jane, 14 Jan 2010 | 00:00
I want out.
I was an internal auditor.
I found a major fraud.
I have not had a decent position since.
That's what it's all about.
Do your job well as an accountant and you are punished.
The Institute will not help you other than to tell you about their benevolent society for members in poverty.
Keep signing the false accounts guys and learn from my mistakes!
Posted by: John Smith (not really), 05 Feb 2010 | 00:00
Not paid enough?
Not sure how the earlier comments can say they are not paid enough , as even though i cannot comment on individual cases , the "average " accountant earns £50k+, not too shabby for managing a small office and producing monthly and yearly accounts. It is stressful granted but so is working in MacDonalds when its busy!!!!!!
Posted by: J RIMMER, 09 Feb 2010 | 00:00
not satisfied....kick it off......we ll replace you.
If they are not satisfied,leave this profession and do something else. We love this profession and take you over.
Posted by: shahbaz19, 16 Feb 2010 | 00:00
Please retire!!
No need to moan, go on and retire, there are tens of thousands of passed finalist like myself who are looking for work
Posted by: Boye, 30 Mar 2010 | 00:00