Accountants Are Seen As Experts — But Many Are Still Unsure What They Actually Do!
Eight in ten people view accountants as experts in their field, yet half of the public admit they don’t really understand what the job involves.
A recent study by ICAS revealed that many people see accountancy as something “mystical” and mainly serving the wealthy. This lack of clarity has shaped how the profession is perceived, often leaving it shrouded in mystery.
One participant told the ICAS Shaping the Profession steering group:
“It’s a bit mystical as to who these people are and what exactly it is they do. I think they need to unshroud it — and make it more accessible.”
Misconceptions and the Rise of DIY Accounting
More than half of respondents believed accountants primarily “cater to the wealthy”, while two-thirds felt that technology has made it easier for people to handle their own finances.
This shift towards do-it-yourself accounting may explain why 57% of accountants see staying relevant as the industry’s biggest challenge. Many outside the profession still associate accountants almost exclusively with tax returns and bookkeeping, overlooking the broader value they can offer.
Breaking Down Barriers and Building Trust
The report highlighted several barriers that fuel misconceptions: limited accessibility, declining trust, old-fashioned stereotypes, and an overly inward-looking industry culture.
Interestingly, 41% of accountants themselves described their work as “too complex or hard to understand,” while 58% felt the profession should continue focusing on its core roles. Meanwhile, the wider public saw opportunities for accountants to evolve and better meet society’s future needs.
A Profession Ready to Evolve
James Baird, chair of the ICAS steering group, noted:
“Public perception of the profession is generally positive, particularly around trust, but there is limited understanding about what accountants do, and outdated stereotypes persist.
What’s clear and exciting is that there is significant opportunity for the profession to take on a broader role in areas such as strategic advice and the adoption of AI.
The profession can also do more to demonstrate to stakeholders and the public the full range of capabilities that it offers beyond the numbers, and how it positively contributes to society.”
He added that ICAS is committed to shaping a profession that feels more accessible, easier to understand, and better aligned with society’s changing needs.
About the Research
The ICAS findings were based on eight public focus groups and a survey of more than 1,000 people — including both members of the public and ICAS members.
