Accounting and Business Consultation

The study in the field of OSKA accounting and business consultation seeks to answer the question of what the workforce and skills needs will be in the field over the next ten years, and proposes recommendations on how to meet these needs for workforce and skills. The analysis distinguishes four subfields: financial management, accounting and tax consultation; external auditing; internal auditing; and management consultation. The terms auditing and audit in general include both internal and external auditing in this study.

The workforce and skills needs in this field over the next decade will be shaped by the requirements for sustainability reporting and auditing, the growth of international and cryptocurrency transactions and services, and the increased adoption of automation and artificial intelligence.

There is a somewhat increased need for employees related to business consultation services, as well as a greater demand for workers with top-level financial analytical and accounting skills. The requirements stemming from the Sustainability Reporting Directive and several other regulations provide a basis for the growth in auditors’ workload. In contrast to the growth in the number of employees with higher education, we forecast that automation, digitalization, and other new technical solutions will reduce the need for accounting staff with lower skill levels.

To meet the expanding job responsibilities of workers in the field and to keep their professional skills up-to-date requires critical attention to the growing need for skill development: more specific IT skills (including the use of economic software and cybersecurity knowledge), accounting and auditing related to virtual currency services, taxation (including international taxation), data analysis skills, project management skills, communication skills, and self-management skills.

Key findings

OSKA accounting and business consultation study in Estonian