New report shows wider adoption of AI tools in accountancy sector
Singapore's accountancy workforce expanded between 2024 and 2025 as median monthly salaries also increased across the board for the sector, according to a new report.
The Accounting Entities Survey 2026 from the Accounting and Corporate Regulatory Authority (ACRA) showed that the sector's workforce went up from 21,783 in 2024 to 22,362 in 2025, an increase of 579 positions (+2.7%).
The sector's resident workforce accounted for 90% of the overall workforce growth, expanding by 522 positions to a total of 17,027 in 2025. It also extended the upward momentum seen in 2024, when the resident workforce grew for the first time since 2020.
'More rewarding' wages for accountants
The expansion of Singapore's accountancy workforce comes amid "stronger and more rewarding" wages for employees, particularly for graduates.
According to the findings, the median monthly salaries for first-year audit assistants and associates went up by 13.3% and 9.5% to S$3,400 and S$4,600, respectively. Increases for other seniority levels include:
- First-year senior associate: from S$5,400 to S$5,800 (+7%)
- First-year manager: from S$7,750 to S$8,250 (+6%)
- First-year director: from S$13,500 to S$14,500 (+7%)
This reflects the efforts of the sector to "better recognise talent and strengthen the appeal of accountancy careers," the report added.
The wage growth follows the Accountancy Workforce Committee's recommendation to firms to review compensation structures in order to attract and retain the next generation of accountancy professionals.
Adoption of AI
Meanwhile, the ACRA report also revealed that technology adoption remained widespread across the accountancy sector in 2025, with the application of artificial intelligence (AI) expanding in Singapore.
The report showed that AI tools were implemented in 21% of firms in the accountancy sector in 2025, much higher than the 11% recorded a year prior.
The adoption of HR and payroll software, however, saw a slight decline from a 22% adoption rate in 2024 to just 20% in 2025.
Overall, the majority (84%) of accounting entities in Singapore were utilising one technology solution in 2025, while more than a third (37%) said they were using more than three tech solutions.
The rise in the adoption of AI tools has also started reshaping the skills that accounting companies want from their workforce, with AI application, ethics and governance skills emerging as their top priority in the next three years.
The firms said they also want to build the following skillsets in the next three years: advanced data analytics and visualisation, IT audit, valuation and financial modelling, as well as sustainability reporting.
