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Times tough in accountancy market

Rob Hosking,  Monday, 25 May 2009 15:01

A rise in fraud, employee unhappiness and other workplace ills amongst accountants has been predicted by a leading recruitment agency.

"Things are tougher than I've seen in 21 years in the industry," Strategy Recruitment Managing Director, Barry Brown, told the annual Conferenz Accountant in Business conference in Wellington.

Brown painted a picture of low workplace morale in the profession and widespread concern for the future.

"People know they are not going to get a pay rise, they know they are doing the work of two or three people to project their jobs," he says.

"But they are not doing the job 100%.  There's no incentive for them to do that."

What will emerge after a period is a rise in fraud, he says - and, as the recession ends a rise in personal grievance claims.

"There is going to be arisen financial fraud because there's not enough people coming into companies to oversee those areas."

The widespread frustration means once the market picks up and accountants see prospects of other jobs, there will be a corresponding rise in personal grievance claims against current employers.

"The thing you have to ask yourself as managers is whether your finance team is working for you are against you  - are they just treading water?  Because the feedback I'm getting is that unless there's some incentive for them they will be out the door as soon as the market picks up."

The concern is not just about current workplace conditions, remuneration or other related issues, he said.

"The feedback I'm getting is there is growing concern about what the auditors will be picking up in six to nine months' time - some firms are cutting corners and that is going to show up down the track.

"And as finance group managers you are going to have to report that back to your management and board of directors. When you do that you are going to want your finance team solidly behind you."

 

 

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