Fewer accountants is a bad thing – really

A pending shortage of accountants and lawyers could drive up the cost of business
By Shannon Klie
|Canadian HR Reporter|Last Updated: 02/14/2006

Canadian businesses are increasingly relying on professional services firms to enhance competitiveness and growth. Unfortunately, the increased demand and an aging workforce have made finding qualified professionals — such as lawyers, accountants, architects, engineers and marketing consultants — the number one stressor for these firms, a recent report found.

“The professional services sector has indicated that in the next three to five years they’re going to have significant growth, the same growth they’ve experienced over the last five years,” said David Blom, partner at Halifax-based accountancy firm Grant Thornton, which sponsored the report. “The combination of the demand and shortage of the supply is going to create a problem in meeting the needs in the professional services sector.”

Of 101 professional services firms surveyed for the report,