By Angela Lurie, Executive Director, Robert Half Management Resources
The shortage of skilled accounting professionals has shifted from a staffing challenge to a business-critical risk. Across corporate finance functions, gaps in talent are no longer just delaying reconciliations or slowing close processes—they are surfacing in public filings as material weaknesses in internal controls.
For CFOs, senior finance leaders and audit committees, this is more than a resourcing problem. It’s an existential question of financial integrity. When insufficient staffing leads to delayed filings, restatement or internal control weaknesses, the impact ripples across investors, regulators and markets.
The Accounting Talent Shortage
A growing concern backed by data
Robert Half’s most recent survey data highlights the scale of the issue:
86% of finance and accounting leaders have experienced challenges in hiring and retaining accountants.
47% say they are able to staff roles, but the process is taking longer than expected.
15% report the situation is critical, with multiple open roles they cannot staff.
30% say the shortage has significantly increased compliance risks and challenges, while another 27% report compliance delays tied directly to staffing gaps.
More than 1 in 4 organizations (26%) have outsourced compliance tasks just to keep up.
One factor contributing to the shrinking accounting talent pipeline is the barrier created by the CPA exam’s 150-hour education requirement. For some students who may have initially considered accounting, the additional time and cost can push them toward other business fields. Combined with experienced professionals retiring, these dynamics have left organizations with fewer skilled candidates to draw from. Broader industry reports, including those from the American Institute of CPAs (AICPA), have noted the same trend: Fewer new CPA candidates are entering the field while retirements accelerate, deepening the talent gap.
Material weaknesses: A symptom of understaffing
A material weakness in internal control over financial reporting (ICFR) is defined as a deficiency, or combination of deficiencies, which creates a reasonable possibility a material misstatement will not be prevented or detected on a timely basis.
One of the most common drivers we see today is a lack of skilled accounting professionals. Insufficient staff makes it difficult to maintain proper segregation of duties, keep pace with reporting requirements and respond to audit findings.
I often advise CFOs to look closely at audit results and operational outcomes. If your internal audit department is consistently flagging control gaps, or your external auditors are raising repeated concerns, those are warning signs. So are forecasts that routinely miss the mark by wide margins or financial statements that require restatements. In my experience, those are big red flags that either you don’t have enough people internally—or you don’t have skilled people in the appropriate roles.
In recent months, multiple public companies have cited turnover or prolonged vacancies in finance and accounting functions as a root cause of control failures. The consequences included:
Delayed 10-K and 10-Q filings
Increased audit scrutiny and higher fees
Negative impacts on stock price and investor confidence
Restatements of previously issued financials
The ripple effect on financial reporting
Material weaknesses are rarely isolated issues. They erode investor confidence, invite regulatory scrutiny and can increase the cost of capital. They also place CFOs and audit committees in the uncomfortable position of explaining how controllable staffing issues became systemic risks.
The presence of a weakness can:
Trigger an adverse opinion from external auditors
Delay strategic initiatives like M&A integration or IPO readiness
Impact executive compensation tied to financial performance metrics
Undermine organizational credibility in the eyes of stakeholders
This article is focused on the corporate environment, where these risks are most pronounced. While public accounting faces its own challenges, it’s within corporate finance functions that control deficiencies most directly impact financial reporting integrity.
Turning risk into opportunity
Despite the seriousness of the issue, CFOs are not without options. Many organizations are using this moment to rethink how they build resilient finance functions. Responses we are seeing include:
Engaging interim and project-based accounting professionals to bridge critical gaps and keep filings on track
Leveraging fractional CFOs or interim controllers to provide leadership continuity during transitions
Investing in automation and AI tools to reduce manual dependencies in control frameworks
Working together with Robert Half and Protiviti to conduct control health checks, implement remediation plans and train internal teams on evolving compliance expectations
And while most companies are returning to the office, I strongly encourage leaders to stay open to remote accounting professionals in certain situations. In many cases, clients who initially prefer local talent ultimately choose remote candidates because the skill set is a better match—and in some cases, the solution is also more cost-effective.
From staffing gap to strategic transformation
The accounting talent shortage is forcing organizations to ask bigger questions: How do we maintain financial integrity with fewer people? How do we future-proof finance functions against continued scarcity?
Some answers lie in technology, but others come from adopting a more elastic talent strategy. Instead of building large fixed-cost teams, companies are engaging high-caliber project accounting professionals who deliver immediate value and then roll off once the work is complete. This approach provides flexibility, mitigates risk and aligns with cost-conscious operating models.
A call to action for CFOs and audit committees
The shortage of accounting professionals is no longer a back-office inconvenience, it’s a boardroom priority. When 57% of finance leaders report that compliance has already been delayed, and nearly a third say risks have significantly increased, the message is clear: Waiting for the pipeline to fix itself is not an option.
Audit committees should press management teams to:
Regularly assess control frameworks for staffing-related vulnerabilities
Track and respond to early warning signs of internal control weaknesses
Prioritize investments in automation where they reduce control dependencies
Build relationships with established resources who can deploy skilled accounting professionals on demand
Protecting financial integrity requires a proactive stance. By acknowledging the risk, investing in solutions and embracing flexible approaches to talent resourcing, companies can not only avoid material weaknesses but also strengthen resilience for the future.
Bottom line: The accounting talent shortage is here to stay, at least in the near term. But CFOs who take decisive action—by supplementing internal teams, leveraging remote expertise and rethinking their workforce strategies—can turn a hidden vulnerability into an opportunity for transformation.
