Sarah's View: Where the Finance Profession Goes Next
At a glance
Article summary
The finance profession is being reshaped by international trade, regulatory change and artificial intelligence. Professional qualifications will need to support careers across borders, AML oversight must strengthen consistency and confidence, and firms must use AI responsibly to deliver more strategic value. The future will belong to finance professionals who combine technical expertise with judgement, international awareness, ethical leadership and commercial insight.
In my role as CEO of the Institute of Accountants and Bookkeepers, I have the opportunity to take part in conversations with government ministers, regulators, international partners, business leaders and employers. Whilst each conversation is different, they all point to the same conclusion. Technology, political uncertainty, global conflict, changing trade relationships and fast growing economies are reshaping the environment in which our profession operates. None of these developments sits in isolation. Together, they are changing where UK businesses trade, how they grow, the skills they need and, ultimately, the role of the finance professional.
I believe there are three fundamental shifts that will define the future of our profession.
Professional qualifications must become international passports
One of the clearest messages I see, both in the UK and internationally, is that education must respond more quickly to the changing needs of employers. Governments around the world are focused on productivity, employability and economic growth. Professional qualifications have a critical role to play in delivering those ambitions, but only if they prepare people for the jobs of tomorrow rather than the jobs of yesterday.The UK India Free Trade Agreement is a good example of how global trade relationships are changing. As businesses look to diversify where they trade, invest and source talent, the demand for internationally capable finance professionals will continue to grow. We recognised that shift early, which is why, in 2024, the IAB developed the Certified International Accounting Professional (CIAP) qualification in partnership with the National Skill Development Corporation in India and Veranda Learning.
CIAP wasn't designed simply to produce technically competent accountants. It combines technical accounting knowledge with professional behaviours, communication skills and cultural awareness, recognising that success in international business depends just as much on understanding how to work across cultures as it does on technical expertise.
Today, our first cohort of graduates is entering the profession at exactly the right moment. As more UK businesses take advantage of the opportunities created by the Free Trade Agreement, they will need finance professionals who can operate confidently across borders, understand different ways of doing business and support organisations trading internationally. Every growing business needs strong financial expertise, and qualifications must evolve to meet that demand.
The same thinking underpins our stewardship of the London Chamber of Commerce and Industry qualifications. Vocational education has a vital role in supporting employability and ensuring learners leave education with the knowledge, skills and behaviours employers genuinely value. I believe the future belongs to qualifications that respond to economic need, create real career opportunities and support businesses wherever they choose to trade.
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The shift in AML regulatory oversight
The decision to transfer Anti Money Laundering supervision to the FCA is, in my view, the right direction of travel.
Money laundering regulations are law and, like any other area of legislation, should be enforced consistently by government. The role of professional bodies is different. Our responsibility is to raise professional standards, develop competent practitioners, support ethical behaviour and help firms build sustainable, successful businesses. These are distinct responsibilities, but together they create a stronger profession.
If this transition is managed well, I believe it has the potential to strengthen the industry. Government will provide consistency of regulatory oversight, whilst professional bodies can focus on developing professionals who don't simply comply with the regulations but understand why they matter and how they contribute to building better businesses.
One observation has remained remarkably consistent throughout my experience of supervising firms. Practices with effective AML frameworks are almost always well run businesses. They have stronger governance, better documented processes, clearer accountability and a greater understanding of risk. Those characteristics don't just lead to better compliance, they often lead to stronger commercial performance. Effective AML is not simply about meeting a legal obligation. It is a hallmark of a well governed, profitable and trusted business.
AI won't replace professionals, but it will redefine the profession
We've spent too long debating whether AI is a threat to the profession. It isn't. The reality is much simpler. AI will replace many of the routine tasks that have traditionally occupied finance professionals. Compliance work is already becoming more automated, and that trend will only accelerate. The real opportunity is not to compete with AI, but to use it to deliver greater value for clients.
The firms that succeed won't be those that simply adopt the latest technology. They'll be the ones that embrace AI responsibly, establish strong ethical guardrails and ensure their people know how to use it with confidence and competence. Technology develops quickly. Trust develops slowly. Our clients trust us with some of the most important decisions they make, and that trust will always depend on professional judgement, integrity and accountability, not on the technology itself.
What excites me most is what AI makes possible. It gives finance professionals more time to think strategically, analyse markets, benchmark clients against their competitors, develop meaningful KPIs and identify opportunities that might otherwise have been missed. Instead of spending hours producing information, we can spend more time interpreting it and helping businesses make better decisions. The firms that embrace that shift won't simply work more efficiently, they'll think differently, build deeper client relationships and create a competitive advantage that was unimaginable only a few years ago.
As I look ahead, these are the three developments that I believe will have the greatest impact on our profession: education must become more internationally focused, regulation must strengthen confidence and professional standards, and AI must be embraced responsibly to enhance, not replace, the trusted role of the finance professional.
The future of the finance profession won't be defined by who produces accounts the fastest. It will be defined by who helps businesses make the best decisions.
The future of finance
