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Inflation and private sector expansion will make it increasingly difficult for local authorities to recruit and retain audit and accounting staff.
Two industry surveys revealed expansion plans as firms focus on improving performance as margins squeeze.
The research commissioned by American Express also revealed senior finance leaders believe finance roles will evolve to meet new demands such as sustainability.
Stacey Sterbenz, general manager, UK commercial at American Express, said: “With calls from finance leaders for greater digital and analytical skills to interpret and act on organisational data, it’s clear that the finance function is evolving in response to new challenges.
“As a result, the importance of having the right business partners in place has never been greater; those who can make sense of complex data and how it relates to a changing and complex external landscape, will be better positioned for ongoing success.”
That view was echoed by the Association of Chartered Certified Accountants’ annual Global Talents Survey.
It found three out of four public sector respondents believe accountants will play a bigger part in helping organisations address this agenda in the future.
But the ACCA research also found the impact of rising prices on salaries is more of a concern for public sector employees than for any other sector.
The group also warned addressing burnout must be a priority because just over half (52%) of public sector financial professionals believe their employers do not consider employee mental health to be a priority.
Jamie Lyon, head of skills, sectors and technology at ACCA, said: “Developing the talent of tomorrow is one of the top priorities for the accountancy profession, especially in the public sector.
“ACCA's inaugural annual talent trends survey ensures the voice of those working in the profession – including the public sector – is heard and that the profession helps create a working environment where today’s professionals thrive and where tomorrow’s talent wants to be.”
