The big picture: Canadian public accounting firms are struggling to hire and retain talent with specialized skills, leading over half of hiring managers to exceed planned salary ranges.

Why it matters: This intense competition for skilled accountants, particularly in areas like controllership and regulatory reporting, is driving up compensation and forcing firms to differentiate beyond salary.

Between the lines:

• Average salary growth for finance and accounting positions in 2027 is projected at 1.4%, with some roles seeing over 4% increases.
• Key competencies commanding higher pay include controllership, ERP software proficiency, regulatory reporting, and technical accounting.
• Firms are increasingly willing to pay a premium for AI-related competencies, alongside critical soft skills.

Staffing & HR impact: Staffing firms and HR departments must emphasize professional development, flexible work, and clear work-life balance policies to attract and retain top accounting talent, impacting recruiter mobility and gross margins.

The bottom line: Beyond competitive salaries, firms must offer robust career development and work-life balance to secure specialized accounting professionals in Canada.