Trust in the accountancy profession remains strong, but a significant knowledge gap persists, according to research by the Institute of Chartered Accountants of Scotland (ICAS).
The survey, conducted as part of ICAS’ Shaping the Profession initiative, finds that while more than 80% of the public view accountants as experts, around half admit they do not fully understand the work accountants perform. The findings underline ongoing perception challenges, despite the profession being widely recognised for technical expertise and integrity.
The research drew on a combination of focus groups, workshops, and a quantitative survey of over 1,000 UK adults, alongside consultations with ICAS members. It aimed to assess societal trust in accountancy, perceptions of the profession, and opportunities for accountants to expand their role beyond traditional services.
James Baird CA, Chair of ICAS’ Shaping the Profession steering group, said:
“Our research shows that public perception of the profession is generally positive, particularly around trust, but there is limited understanding about what accountants do, and outdated stereotypes persist. What’s clear is that there is significant opportunity for the profession to take on broader roles in areas such as strategic advice and AI adoption.”
Key findings from the study include:
- 81% of respondents see accountants as experts in their field, with 70% considering them trusted advisers.
- Trust is higher among individuals closely engaged with accountancy (78%) than those less familiar (58%).
- Half of the public do not clearly understand what accountants do, and 55% perceive them as primarily serving the wealthy.
- Professional respondents flagged technology and AI (54%), sustainability reporting (17%), and ethical leadership (10%) as areas offering the greatest opportunity for future growth.
- Routine accountancy tasks are expected to become increasingly automated, highlighting the importance of advisory, interpretive, and strategic functions.
The survey also identifies challenges within the profession itself. ICAS members expressed concern that core technical and interpersonal skills may be declining, in part due to reliance on self-service technology and outsourcing, potentially eroding perceptions of value.
The research suggests that accountants have an opportunity to clarify their role, demonstrate tangible value across sectors, and expand into advisory areas that align with societal needs, including financial wellbeing, sustainability, and AI governance. ICAS plans to use the insights to inform future guidance, professional development, and public engagement initiatives.