Evolving Public Practice: The Path Forward
Public practice is changing, and firms that embrace this shift will be best positioned to attract and retain top talent. While the profession has faced challenges, recent advancements in skilled migration, alternative qualification pathways, and workplace flexibility have created new opportunities to strengthen the workforce.
However, these wins alone are not enough. The next generation of accountants is seeking clear career progression, leadership development, strong workplace culture, and long-term growth opportunities. Firms must go beyond traditional career models and actively implement these changes to create a profession that is rewarding, inclusive, and sustainable.
By taking advantage of these industry-wide improvements and addressing what professionals value most, firms can future-proof public practice and position themselves as employers of choice. Today’s workforce is rewriting the rules, prioritising continuous growth, flexible work arrangements, and cultural alignment over traditional career ladders.
Turning Challenges into Opportunities: Leveraging Recent Wins to Shape the Future
Rather than focusing on talent shortages, firms should shift their attention to solutions already in motion, such as skilled migration pathways, alternative qualifications, and evolving workplace models.
Firms that act now can leverage these changes to strengthen their workforce.
Recent progress includes:
* Skilled migration improvements – A joint CAANZ & CPA Australia submission successfully advocated for accounting, audit, and finance-related occupations to be recognised on Australia’s Core Skills Occupation List, strengthening migration pathways for qualified professionals.
* Expanded qualification pathways – Alternative pathways, including micro-credentials, bridging programs, and global recognition of CA and CPA qualifications, have broadened access to the profession.
* Workplace flexibility initiatives – More firms are investing in hybrid work, flexible hours, and wellbeing programs, making public practice more attractive to incoming and existing talent.
These developments present a unique opportunity for firms to evolve their talent strategies. But how can firms take advantage of these changes while addressing the deeper needs of the next generation of accountants?
From Progress to Action: Implementing Wins to Build a Sustainable Workforce
The recent industry-wide wins create momentum, but firms must capitalise on them. Skilled migration, alternative pathways, and flexibility open doors, but they aren’t enough on their own. To truly future-proof the profession, firms must go beyond policy changes and embed these shifts into their culture, career structures, and leadership development.
Here’s how firms can successfully integrate these strategies and build a workforce that attracts and retains top talent:
1. Skilled Migration: Make Your Firm an Employer of Choice
The global accounting talent pool offers opportunities for firms to attract skilled professionals, but success depends on creating an environment that supports their needs. Skilled migration strategies must go beyond hiring; they should focus on streamlining onboarding processes, offering robust career progression plans, and fostering a sense of belonging. By partnering with professional organisations and migration agencies, firms can access untapped talent pools while positioning themselves as employers of choice in the international market. Both CAANZ and CPA Australia are now approved by the Department of Home Affairs to conduct skills assessments for accounting occupations for skilled migration to Australia.
Actions to consider:
- Streamline onboarding & integration – Ensure skilled migrants have structured support, clear career pathways, and access to leadership from day one.
- Expand recruitment strategies – Use migration-focused recruitment agencies, partner with professional bodies, and tap into international talent pools.
- Offer sponsorship pathways – Firms that provide structured sponsorship and long-term career security will stand out in a competitive hiring market.
2. Alternative Qualification Pathways: Support a Broader Talent Pool
Alternative pathways into the accounting profession have created avenues for a more diverse workforce. Bridging programs, micro-credentials, and globally recognised qualifications have opened the doors to a wider talent pool. Firms can support these entrants by developing tailored training programs, mentoring opportunities, and practical experience pathways. These initiatives ensure that individuals from non-traditional backgrounds can thrive while contributing unique perspectives and skills to the firm.
Actions to consider:
- Recognise diverse entry points – Welcome professionals from bridging programs, micro-credentials, and non-traditional pathways to widen the talent pipeline.
- Develop structured learning plans – Provide internal training support, CPA/CA mentoring, and study leave to help employees progress toward full accreditation.
- Create internal fast-track programs – Design internal programs that allow skilled professionals to gain practical experience while completing their qualifications.
3. Workplace Flexibility: Move Beyond Hybrid to True Work-Life Integration
Workplace flexibility is no longer a luxury; it is a necessity to attract and retain talent. By shifting to tailored work arrangements, firms can accommodate the diverse needs of their workforce. Flexible policies like cultural leave, rostered time off, and outcome-based performance measures can improve employee engagement and productivity. Investing in flexible options helps foster a culture where employees can balance professional and personal commitments without compromising on performance.
Actions to consider:
- Tailor flexibility to individual needs – Move beyond one-size-fits-all hybrid models and offer personalised work arrangements that balance productivity with lifestyle.
- Rethink time-off structures – Introduce RTO (rostered time off) for wellbeing, cultural leave options, and job-sharing models to accommodate diverse needs.
- Implement trust-based work policies – Shift from hours-based tracking to outcome-focused performance measures to boost autonomy and engagement.
4. Clear Career Pathways & Leadership Development
The accounting profession must evolve to provide transparent career pathways and robust leadership development programs. Firms should ensure employees have a clear roadmap with structured progression criteria and opportunities for growth. Leadership programs should include mentoring, cross-functional collaborations, and succession planning to prepare the next generation of leaders. By focusing on growth and leadership, firms can build a motivated workforce with the skills needed to navigate future challenges.
Actions to consider:
- Define structured career pathways – Ensure every employee has a clear roadmap with transparent progression criteria and salary bands.
- Expand leadership development – Offer mentoring, cross-functional projects, and succession planning programs to build future leaders from within.
- Encourage lateral career growth – Not everyone wants to be a partner, firms should offer lateral moves, such as tech-driven roles, or specialisations.
5. Strengthen Workplace Culture & Reframe the Profession
A strong workplace culture is the cornerstone of retention and engagement. Firms should create psychologically safe environments where employees feel valued and supported. Highlighting the broader impact of accounting—from financial governance to economic growth—can help reframe the profession’s image. Aligning with industry campaigns to promote accounting careers ensures a cohesive message that resonates with potential talent and stakeholders alike.
Actions to consider:
- Foster psychological safety – Build an environment where employees feel comfortable asking questions, sharing ideas, and admitting mistakes.
- Highlight impact-driven careers – Showcase real examples of how accountants strengthen businesses, protect financial integrity, and drive economic growth.
- Engage in industry-wide messaging – Align with initiatives like CAANZ’s “Make Epic Things Happen” campaign to shift perceptions of accounting careers.
Specific Challenges for Audit Firms
The auditing profession faces a critical shortage of talent, compounded by the declining interest in accounting degrees and evolving workplace demands. According to a recent report ‘Talking Talent’ by CAANZ, the deficit of skilled auditors is fuelled by factors such as burnout, increasing reporting requirements, and the need for specialised knowledge in areas like ESG reporting and data analytics. Remote auditing has emerged as a promising solution, offering flexibility and work-life balance, but it also requires firms to invest in technology and training.
Retention strategies must adapt to the expectations of Gen Z and Millennials, who value diverse experiences, faster career progression, and meaningful work. Firms must also address regional disparities by leveraging remote auditing technologies and focusing on diversity and inclusion. Expanding the scope of assurance services—including ESG and fraud detection—offers opportunities to attract professionals from varied disciplines, such as science and engineering.
By embracing these strategies, firms can tackle the auditor shortage while maintaining the high standards required in today’s complex regulatory environment.
The Bottom Line: Building a Sustainable and Engaging Profession
The future of public practice depends on action, not reaction. Firms that proactively integrate skilled migration, alternative pathways, and workplace flexibility while prioritising career progression, leadership development, and workplace culture will be the ones that thrive. Those that fail to evolve risk losing their best talent, and their competitive edge.
Public practice has an opportunity to reshape its future, attract diverse talent, and create fulfilling career paths. The question is: Will firms take action now, or risk being left behind?
Next Steps: Creating the Future of Public Practice
The future of public practice depends on strategic leadership, a commitment to flexibility, and a strong investment in people. Firms that take action now will be the ones that stand out in a competitive landscape.
At National Audits Group, we recognise that the future of public practice depends on continuous evolution, strong leadership, and a commitment to people. We don’t just talk about the future; we actively shape it by embedding these strategies into our firm’s culture and operations.
If your firm is ready to build a future-proof workforce, let’s connect. Whether it’s structuring career pathways, enhancing leadership development, or fostering a culture that retains top talent, we can share insights and practical strategies to help you make it happen.
Contact us directly:
P: 1300 734 707 | E: [email protected] | W: www.audits.com.au
Danielle Nye-Read | Director – National Audits Group
Danielle joined National Audits Group in 2014 as a Senior Auditor and swiftly made her mark, being promoted to a manager role and then recognised as an Associate of the firm at only 28 years old. More recently, Danielle was appointed an Executive Director and Shareholder of National Audits Group, effective as of 1 July 2021.
Danielle is committed to the continuous improvement of the technical resources, tools, and templates used within National Audits Group and the profession as a whole. This commitment is driven by her passion for the profession and working closely with likeminded individuals who share her passion.
As such, Danielle prides herself on being our dedicated in-house Technical and Standards Specialist as well as our Training and Development Facilitator.
With Danielle’s experience, passion, approach and dedicated team of professionals, you will find that she is perfectly positioned to fulfill your engagements and ultimately provide your organisation with the services it requires.
Danielle forged her professional career by consistently demonstrating her passion and enthusiasm for the audit profession while completing her university studies, obtaining her Graduate Diploma, and becoming a Registered Company Auditor with the Australian Securities Investment Commission.
In addition to the abovementioned roles, Danielle has served as a volunteer Committee Member of the NSW Riverina and Southern Tablelands Group of the Chartered Accountants Australian and New Zealand (CAANZ) since 2018.
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