We are hearing increasing reports of firms struggling with staffs, seniors, and managers leaving, causing growing dissatisfaction.

As the worrying trend continues, it only worsens for those who remain.

They are being asked to take on more work to cover for those who have left.

The number of accounting majors has reached a significant low, and while the situation isn’t improving yet, it will take time before we see any positive changes reflected in the workforce through an increase in accounting graduates hopefully!

Accounting is not sexy anymore.

As practitioner, we need to address this issue before it escalates further.

Acknowledge that there is a problem, protect the mental health and work-life balance of our employees, and evaluate whether we need to let go of clients we can no longer properly service.

This isn’t a complex solution.

If we don’t take action, we risk seeing more valuable members leave the firm and the industry.

For decades and decades, we’ve been plagued by unqualified/bogus accountants.

Now, both large and small foreign accounting firms are coming onshore, competing for local talent.

It’s hard to believe the Accountants Act dates all the way back to 1967.

So, what can MIA do now?