AC FE EXA CA E INS DBA M IDE CK
Incorporating NQ magazine
October 2025
www.pqmagazine.com/www.pqjobs.co.uk qjjobs.co.uk
PQs STRUGGLE TO MAKE ENDS MEET Increasing numbers of ACA students are struggling with the ongoing cost-of-living crisis, with one in five (19%) admitting they have experienced financial hardship in the past 12 months. A new study from caba, the occupational charity for ICAEW members, students and their families, said PQs are not alone, with one in 10 ICAEW members saying they too had experienced financial issues. The main causes of hardship are consistent across all groups. Nearly three-quarters (72%) attributed their struggles to rising accommodation costs (mortgages and rent) and other household costs. One in three identified work-related stress and burnout as contributing factors. The pressure is not just emotional – many students are relying on credit to manage essentials. More than a quarter (28%) of ACA students surveyed used credit cards to cover basic purchases in the past year, double the proportion of current members (14%) and five times that of former members (5%). Meanwhile, over two-fifths (44%) expressed
concern about affording emergency expenses, and half said they had little or no emergency savings. Commenting on the findings, Cristian Holmes, Chief Executive at caba, said: “This data confirms what we’ve been hearing from the people reaching out to us: ACA students are under growing financial pressure. Many are entering the
profession at a difficult time where they’re facing rising living costs, the uncertainty of early career stages and, in many cases, no financial safety net. “At caba, we’re already seeing a 50% increase in enquiries from students compared with this time last year. That’s why we’re expanding our work to make sure support is accessible before things reach crisis point. Whether it’s financial grants, debt advice or confidential counselling, we’re here to provide practical help that makes an immediate difference.” Worryingly, the effects of the cost-of-living crisis can be felt far and wide. Among those experiencing financial hardship, six in 10 ICAEW members have cut back on non-essential spending, while four in 10 are cutting back on essentials such as heating and hot water. The study also highlighted that to cope with economic adversity almost two-thirds began to switch to cheaper alternatives while buying food and other goods, while over half have been using budgeting apps to track expenses. Click here for more information on caba’s services and how to access support.
ACCOUNTANCY NEEDS TO GO GLOBAL International mobility is the key to attracting the next generation of professional accountants, according to Madeleine Knopf (pictured). Writing for the International Federation of Accountants (IFAC), she explained that international mobility is no longer just a benefit of professional accountancy – it’s a strategic recruitment tool. She said: “For professional accountancy organisations navigating talent shortages and evolving workforce expectations, promoting the profession as a global passport to opportunity may be one of the most effective ways to attract, inspire and retain the next generation of accounting leaders.”
FREE RS WEBINA
Knopf says the talent shortage is real, with accounting and auditing job openings projected to exceed 130,000 a year by 2033. She points out that in the UK some 45% of accounting firms already report they are ‘severely’ or ‘significantly’ affected by the skills shortage. Knopf reveals that recent data shows encouraging signs, such as a 12% increase in undergraduate accounting enrolment from spring 2024, largely driven by growth at two-year institutions. However, the profession continues to face longterm talent risks. To reverse this trend, Knopf believes the accountancy bodies must reframe how they communicate the value proposition
of becoming a professional accountant – and one of the most compelling elements is its international career potential. The ability to work across borders, gain exposure to international markets and build a portable skill set is often seen as just as important as salary or title. This is where professional accountancy qualifications offer significant value, explained Knopf. She said: “In many jurisdictions, credentials such as the CPA, CA or ACCA provide opportunities to work internationally through
Mutual Recognition Agreements (MRAs) with leading global bodies. For example, through MRAs with jurisdictions such as Australia, Canada, Hong Kong, Ireland, New Zealand, South Africa and others, qualified accountants can pursue international career opportunities without restarting the credentialing process. “In most cases, individuals are required to complete only a short exam covering local tax and law, rather than retaking core qualification exams. These agreements make many professional accountancy designations among the most globally mobile credentials in business.”
Accountants… time to unlock the power of AI! Join us for a free live online roundtable discussion The date – Wednesday 8 October at 4pm (GMT) Sign up at: https://shorturl.at/C2Hgz