Accountants Thinking Of Changing Profession

Tue, 12 Jan 2010

Nearly half of all UK accountants are looking to get out of the profession over the next five years, according to new research by accountancy software provider E-conomic.

A survey by the company asked accountants what they were most looking forward to in the next five years. The majority of respondents worryingly answered " retirement ".

The study showed that just under 90 per cent of the accountants polled were worried about tax and financial reporting regulations becoming tougher over time, with 57 per cent claiming HM Revenue and Customs will have a more direct role in regulating their work and processes in the future.

Over a quarter of respondents said they believe they will be sending all their compliance work abroad for processing by 2015, and of these, three quarters see themselves taking on a more profitable consultant and business adviser role.

Furthermore, over a third of the accounting professionals said they see themselves working in a totally paperless office within the next five years due to the advances in online technology.

Commenting on the findings, E-conomic’s operational director Anders Bjornsbo, 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."

He added that the survey results show that "technology is firmly at the centre of the future of accountancy ".
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