The accounting profession is changing fast especially in 2025, there are opportunities and challenges for accountants. While the demand for accounting and auditing skills is growing (especially in Malta and Cyprus), professionals in this field are facing many hurdles that affect their job satisfaction, career growth and overall wellbeing. In this article we will explore the key challenges accountants face and get practical solutions to them.
Soft Skills
One of the biggest pain points for accountants is lack of soft skills. While technical skills are important, accountants are expected to be good in communication, leadership and adaptability. These skills are critical in interpreting complex financial data and presenting actionable insights to clients and non-financial stakeholders.
The growing emphasis on accounting soft skills is because of the profession’s move towards advisory roles. Accountants who can build strong relationships and communicate complex information effectively are more likely to succeed. Employers should prioritise soft skill training programs to help accountants develop their interpersonal skills.
Soft skills not only improve relationships within the workplace but also help accountants manage high pressure situations such as tight deadlines or client disputes. According to a report by the Journal of Accountancy, communication and adaptability are consistently top skills for accountants.(top soft skills for accounting professionals) Firms and professionals that invest in developing these skills are better placed to build teams that work together and deliver better work.
Complex Regulatory Environment
Dealing with an ever-changing regulatory landscape is a constant challenge for accountants. With frequent updates to tax laws, financial reporting standards and compliance requirements, accountants need to stay up to date to ensure accuracy and compliance.
Regulatory compliance in accounting not only adds to the workload but also to the stress levels of professionals. A Deloitte survey found that 68% of accountants consider regulatory changes as a major challenge in their role. Organisations can reduce this pressure by investing in training programs and using technology to automate compliance related tasks. For example, using specialized compliance software can reduce manual work and minimize errors.
Staying compliant also requires accountants to attend workshops or courses on regulatory changes, which further adds to their already busy schedules. Employers should consider offering flexible working hours or incentives to encourage participation in these activities.
No Work-Life Balance
The accounting profession is demanding especially during peak periods like tax filing seasons, which means long hours and high stress. Many accountants struggle to achieve a work-life balance which leads to burnout and job dissatisfaction.
To address work-life balance for accountants, firms should have policies that put employee wellbeing first. Flexible working hours, workload distribution and mental health support can make a big difference in reducing stress and retention.
Offering remote work or a 4-day workweek during off-peak periods are examples of policies that can improve work-life balance. Companies that put wellbeing first find that employees are more engaged, productive and loyal.
If you want to work for such companies, you can view all available accounting jobs here!
Accounting Talent Shortage
The profession is facing a talent shortage so it’s hard to find qualified professionals. This shortage adds to the workload of existing staff and reduces productivity.
To combat the accounting talent shortage, organisations should focus on creating an attractive work environment that attracts top talent. This includes competitive remuneration, growth opportunities and a supportive company culture.
Recruitment strategies should also focus on underrepresented groups and young professionals to widen the talent pool. Partnering with universities to provide internships and mentorship opportunities can help bridge the gap between academia and the profession.
Professional Development and Learning
Continuous learning is a requirement in the accounting profession. Accountants are expected to stay current with industry trends, technology and regulatory changes. But balancing day to day responsibilities with professional development for accountants is a big ask.
Employers can support professional development by providing access to training programs, certifications and workshops. Encouraging employees to take up these opportunities shows that you care about their growth and loyalty.
Mentorship programs and cross-departmental training can further upskill an accountant. These programs prepare employees for leadership roles and keep them relevant in a fast changing industry.
Adapting to Technology
The rise of AI and automation is changing the accounting profession. While these tools can streamline workflows, they require accountants to develop new technical skills. Adapting to technology in accounting can be daunting for those who are not familiar with emerging technologies.
Training on accounting software, data analysis tools and automation processes can equip accountants to thrive in a tech world. Firms should also consider hiring technology specialists to work alongside accounting teams to ensure smooth integration of new tools.
Technology also allows accountants to focus on higher value tasks such as strategic planning and advisory services. A PwC study found that automation can free up to 40% of time spent on repetitive accounting tasks so professionals can focus on strategic initiatives. Embracing these changes not only improves efficiency but also increases the value accountants bring to their organisations.
To sum up, solving the accountant challenges above is key to a more sustainable and fulfilling career for professionals in this field. By investing in soft skills, supporting work-life balance, professional development and technology, organisations can create an environment where accountants can thrive.
As the accounting profession changes, tackling these challenges will benefit both the professionals and the organisations they serve. GRS Recruitment can play a big part in matching you with roles that align with your skills, values and career aspirations, to create a brighter future for you in the Accounting profession.
Reach out to our team today and find out how we can assist you with finding your desired Accounting role! Alternatively, apply directly to any role you’re interested in.