Following a high-powered panel discussion at Accountex London, we dive into the future of accountancy. From the "fat middle" of firm structures to the shift toward multi-disciplinary advisory roles, discover why the industry’s leaders believe the age of AI will elevate the human element of the profession.
If you think forecasting the UK economy is a headache, try predicting the future of the accountancy profession. At last week’s Accountex London, a high-powered panel attempted to do just that. Moderated by Gareth John, Policy Director at First Intuition, the session brought together leaders from IFAC, ICAEW, and ACCA to dissect where the profession is headed by 2030.
The ‘The 5-year future: Where are accountancy bodies taking the profession?’ panel discussion, featured a range of perspectives from across the industry:
Gareth John, Policy Director at First Intuition (Moderator)
Michelle Cardwell, Head of Accountancy Education at the International Federation of Accountants (IFAC)
Julie Smith, Head of Practice at ICAEW
The consensus is that we are moving away from the ticking and bashing of the past and toward a redefined profession that prioritises human judgement, ethics and strategic partnership.
Michelle Cardwell, Head of Accountancy Education at IFAC, set the stage by reminding the audience that while the tools change, the core mission of an accountant remains: providing meaning to data.
“We have been recording what things cost for centuries. But now, it’s about more than just financial meaning. It’s about non-financial reporting, including gender dynamics, pay gap ethics and cybersecurity risks.”
Cardwell noted that while the first spreadsheets in the 1980s were predicted to kill the profession, they actually led to a net gain of 200,000 jobs. The lesson is that technology does not erase accountants; it evolves the nature of their work from adding up to making sense of the numbers.
Julie Smith, Head of Practice at ICAEW, shared exclusive early insights from their 2026 evolution of mid-tier firms research. The data suggests that while the hype is high, the adoption of AI is measured.
Adoption Stage: Most firms sit in the early majority, being neither innovators nor laggards.
Usage: Moderate usage across organisations rather than extensive, specialised deployment.
The Impact Gap: Only 17% of firms say they can accurately assess the impact of AI on their people, while 34% admit they have no idea how it will affect headcount.
Smith highlighted a critical pivot: 80% of firms believe the role is shifting away from compliance and toward ethical judgement and advisory.
A recurring theme was the structural shift of the traditional pyramid firm. With AI and offshoring handling basic transactional tasks, there is a legitimate fear of a fat middle where firms have plenty of managers but a hollowed-out base of trainees.
Rob Alder, Head of Apprenticeship Relationships at ACCA, addressed the concern that younger generations are turning away from the profession out of fear that AI will replace them.
The Second Year is the New First Year: Michelle Cardwell noted that firms now expect new starters to possess the analytical skills previously reserved for those with 12 to 18 months of experience.
The Death of the Sixth Sense: Gareth John raised a poignant concern. If trainees do not spend hours ploughing through nominal ledgers, will they ever develop that intuitive gut feeling for when a spreadsheet looks wrong?
The Skills Advantage: Conversely, Rob Alder argued that Gen Z’s tech nativity gives them an edge. They are not just using the tools; they are advising the mature partners on how to implement them.
What does the accountant of 2030 look like? According to the panel, they will not just have an ACA or ACCA qualification; they will be tech-literate business partners.
Non-Accounting Specialists: 75% of firms plan to recruit non-accountants in areas like data science, sustainability and financial advice.
Consolidation: The middle of the market is shrinking. We are moving toward a landscape of a few massive consolidators and many highly specialised boutique firms.
Career Fluidity: The 15-year path to partner is fading. Future accountants will likely move between firms, freelance roles and industry more fluidly.
The awarding bodies are clearly in a race to update syllabuses to include data science and sustainability to ensure the profession remains the ethical conscience and strategic engine of business. As Julie Smith noted, the basic skills of integrity and curiosity have not changed; they have simply been elevated.
