Australia's Finance Workforce Faces 18,000-Strong Shortfall by 2035

Australia's finance workforce is projected to face a significant shortfall by 2035, according to research commissioned by Chartered Accountants Australia and New Zealand (CA ANZ). The study found that there could be a shortage of almost 18,000 accounting, audit, and finance professionals in the country.

The largest gap is expected among junior external auditors, with projected workforce supply covering less than half of anticipated demand. The accounting profession generates more than A$82.4 billion in annual economic activity, representing around 3% of Australia's gross domestic product.

CA ANZ CEO Ainslie van Onselen said the findings highlighted the profession's economic role and the need to ensure Australia has sufficient financial expertise to support future growth. 'Accounting is one of the quiet foundations of Australia's economy,' she said. 'Every investment decision, every audited financial statement, and every board that governs with confidence relies on the work of accounting professionals.'

The report also outlined five priorities to tackle the shortfall: boosting local talent, preserving global recruitment, building modern skills, supporting participation, and improving long-term workforce planning.