The Accounting Profession in Australia: Economic Impact and Workforce Outlook

This report examines the economic contribution of Australia’s accounting profession and its workforce outlook, exploring the role accountants play across the economy, the scale of the profession’s economic and employment contribution, and whether Australia has the accounting capability required to meet future demand.

Chartered Accountants Australia and New Zealand commissioned Oxford Economics Australia to assess the contribution of the accounting profession to Australia’s economy and examine the workforce needed over the decade ahead. The analysis considers both the accounting services industry and accountants working in-house across businesses, government agencies and other organisations.

Oxford Economics Australia estimates that the accounting profession contributed $82.4 billion to Australia’s GDP in 2024–25, equivalent to around 3% of the national economy, while supporting more than 365,000 jobs. If treated as a standalone industry, accounting would rank as Australia’s 13th largest industry by gross value added. More than two-thirds of the profession’s economic contribution comes from accountants working outside accounting firms, reflecting their role across industries including financial services, mining, construction, manufacturing, healthcare, retail and the public sector.

Looking ahead, demand for accounting professionals is expected to continue growing, with the accounting workforce projected to expand by around 20% by 2035. However, the report identifies workforce pressures across key occupations and experience levels, with a projected shortfall of 17,900 accounting, audit and finance professionals by 2035. Declining education enrolments, workforce attrition, skilled migration constraints and the changing impact of AI are among the factors shaping the profession’s future workforce.

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