Accountants are firmly in the hot seat

A new international study by Robert Half Finance & Accounting reveals that New Zealand finance directors are under more pressure than ever before, with changing roles that are becoming 'unsustainable'.

Almost 5,000 finance directors and CFOs in markets around the world were surveyed, including Britain, Australia and New Zealand.

Its chief finding was that the job of finance director a few years ago would be unrecognisable when compared to today's role. Accountants have become more integral to management operations and overall business strategy, yet their new responsibilities are being compounded by high staff turnover and a lack of resource.

Most of the respondents said they faced challenges in carrying the projects out because they have neither the time nor enough employees with the right skills. Many (39 per cent) said they have inadequate time to dedicate to the initiative, 35 per cent say they are understaffed and 30 per cent say the quality of their internal personnel is unacceptable.

David Jones, Managing Director of Robert Half Finance & Accounting said: "Finance directors have told us their role has changed almost beyond recognition but this is only half the story because it shows the width of the skills shortage gap."

"The accountant's role has changed significantly in recent years, moving away from processing and calculating data and focusing instead on analysing information and helping to chart the course of a company's future."