The job market for accounting and finance professionals is constantly evolving, driven by technological advances, regulatory changes and global demands. Companies need Accountants to assist with effective financial stewardship, as well as compliance and risk management. Tax Accountants and and Consultants are therefore in great demand.
If you’re looking for a promising career in this field, it’s crucial to stay up to date with the latest trends and the skills most sought after by employers.
Accounting and Finance: main trends in 2024
Being aware of market trends is not that simple, especially because the area of accounting and finance is strongly linked to technological evolution, making use of artificial intelligence, data analysis and sector-specific regulations.
See below some of the main trends that you should pay attention to in 2024:
1. Automation and artificial intelligence (AI): Automation is transforming the accounting and finance market, automating repetitive tasks and freeing up time for professionals to focus on more strategic activities. As a result, AI is being used for data analysis, reporting and even internal auditing. Skills such as systems experience, data analysis and programming will be increasingly in demand.
2. Big Data and data analysis: Data analysis has become crucial for companies to make informed and strategic decisions.
Therefore, professionals with skills in data collection, analysis and interpretation will be highly valued. Business Intelligence (BI) tools and data analysis software will be essential.
3. Compliance and regulation: The laws and regulations governing the financial sector are constantly changing. Professionals with in-depth knowledge of local and international standards and legislation will be essential to ensure companies are compliant.
4. Interpersonal and communication skills: Despite increasing automation, interpersonal and communication skills continue to be fundamental, as the ability to communicate clearly, concisely and effectively with clients, colleagues and stakeholders is crucial.
5. Specialisation in specific areas: Specialisation in areas such as forensic accounting, risk management, corporate finance or taxation can open doors to more lucrative and challenging career opportunities.
What you can do to prepare for the future Accounting and Finance job market:
- Obtain the necessary qualifications: Stay up to date on the minimum qualification requirements for different roles in accounting and finance.
- Develop technical skills: Improve your skills in areas such as data analysis, programming, accounting and finance software.
- Pursue professional certifications: Obtaining relevant certifications in specific areas can add value to your resume and demonstrate your commitment to ongoing professional development.
- Stay up to date on the latest trends: Follow industry news, attend events and workshops, and connect with other industry professionals.
- Create a network of contacts: Networking is essential for building relationships and finding job opportunities.
The job market for accounting and finance professionals in Australia offers several promising opportunities. By preparing yourself for emerging trends, developing the necessary skills, you will be well-positioned to build a successful career.
If you want more tips on how to prepare for the accounting and finance job market, read also: How to prepare for Accounting and Finance employment opportunities in 2024?
At Abacus Human Capital, we have specialised in accounting and finance recruitment for 15 years. To find out more, contact our experts using the form below and send your CV.
