James Baird CA

The findings, published in a ‘Society First’ report launched as the first output of ICAS’ Shaping the Profession programme, found that respondents ranked professional expertise among the top four drivers of trust in the accountancy profession.

Despite this positive sentiment, the research also revealed half the public admit they don’t clearly understand what accountants do, underlining the scale of the perception gap facing the profession and need for accountants to demonstrate their value to wider society.

Drawing on surveys, focus groups and workshops conducted throughout 2024-25 to gather input from both the public and ICAS members on the future of the accountancy profession, the report provides the first research-based evidence that their views on the profession’s current role, reputation, and direction are largely aligned.

Key findings include:

• Professional expertise is a key pillar of trust: 81% of respondents agree that accountants are experts in their field, while 70% view them as trusted advisers. Respondents consistently rank expertise, honesty, acting in their best interest, and understanding them as the top four drivers of trust in the profession.
• Trust remains strong: Overall trust in the profession sits at 66%, with 78% of those actively engaged with accountancy expressing trust in the profession, compared to 58% among those less familiar with accountants’ work.
• Perception challenges persist: Half of the public (50%) say they do not clearly understand what the accountancy profession does, while 55% believe accountants mainly “cater to the wealthy”. Accountants themselves highlight the profession being seen as too complex (41%) as a key challenge.
• Future opportunities: While most accountants (58%) believe the profession should focus on its core roles, half of respondents think accountants are equipped to take on broader societal roles. ICAS members see technology and AI (54%), sustainability reporting (17%), and ethical leadership (10%) as the biggest opportunities for future growth.

Commenting on the findings, James Baird CA, chair of ICAS’ Shaping the Profession steering group, said: “Our research shows that 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is generally positive, particularly around trust, but there is limited understanding about what accountants do, and outdated stereotypes persist.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, about our findings 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. 

“ICAS is committed to making these opportunities a reality by shaping a profession that feels more accessible, understandable, and supports society’s evolving needs.”

While the findings do not necessarily reflect ICAS’ views, they will inform the next stage of its Shaping the Profession programme. This strategic initiative explores the future of the accountancy profession at a time of huge economic and societal change, with the aim of ensuring accountants have the skills, support, and ethical grounding needed to balance commercial realities with their duty to serve society.

Discover the full report findings at icas.com.