Concerns over future accountant numbers voiced

Date: 6th August 2008

Small businesses might struggle to find accountants to help them complete their tax returns in the future, a new study has warned.

A recent survey from CareersinAudit.com found that only 27 per cent of accountant graduates are expected to stay in the profession for five years or more.

In particular, the research showed that 76 per cent of accountants believed that the current average starting salary of £23,000 was not high enough to attract and retain the best quality candidates.

Worryingly, 46 per cent of current accountants said they thought recruitment will slow down in the current economic climate, suggesting small businesses might discover it is harder to find someone to help them with their VAT returns in the future.

Talking to Accountancy Magazine, CareersinAudit.com's director, Max Williamson, said: "If young people don't hear that accountancy offers travel, qualifications, client contact and an opportunity to get to the heart of the business, the stereotype of accountancy as spreadsheets and isolation will only gain ground.

"The accountancy profession has a great prospect to sell, and simply needs to make more of an effort to sell."

Recently, the Times suggested that sole traders might need to use an accountant to help them file their tax returns.