Addressing the talent gap among finance professionals has been an on the to-do list of finance leaders for a time now, especially amid continuous digital transformation and adjustments in the market.
According to Forvis Mazars' 2025 annual C-suite Barometer: outlook 2025 – Cutting through competition report, digital transformation remains the foremost strategic priority for Asia Pacific (APAC) executives amid the increasingly volatile business landscape.
With talent still a critical priority for APAC businesses, finance leaders are faced with talent acquisition challenges that have significantly intensified in the region.
In the report, it was found that half of APAC executives admit difficulties in attracting and retaining skilled employees, notably higher than the global average of 43%.
Forvis Mazars says recruitment is particularly challenging at mid-level and management roles, as organisations battle difficulties in attracting suitable applicants, effectively targeting qualified candidates, and an overall shortage of available talent in the market.
It should be acknowledged that APAC businesses must prioritise comprehensive learning and development initiatives to successfully attract and retain top talent. This is alongside a strong commitment to employee wellbeing, with a focus on initiatives on flexible or remote working, compliance with standard working hours, and providing increased rest days to foster a supportive work environment.
Evolution of roles
As the market progresses and shifts, so do the organisations and people.
Iris Goh, director, talent at Forvis Mazars Singapore, observes that accounting and finance professionals are evolving beyond traditional functions to deliver deeper insights, strategic perspectives, and data-driven analysis that support business decision-making.

"The continuing impact of digital transformation is reshaping the way finance operates, with greater emphasis on automation, real-time reporting, predictive analytics, and technology integration," says Goh. "Professionals are increasingly expected to harness digital tools to enhance business performance and agility."
Additionally, Goh thinks new areas of business focus, particularly around ESG and sustainability reporting, are expanding the finance remit to include non-financial metrics, requiring new skills and knowledge.
"Ongoing regulatory changes across the Asia-Pacific region also raise the complexity of compliance, risk management, and governance. These shifts are setting new standards and expectations for finance professionals, positioning them as integral contributors to strategic leadership within organisations."
Key factors for talent
In terms of the key factors needed for talent retention and upskilling within the Finance function, Goh says digital literacy remains a key priority, but cross-functional learning is increasingly important.
"As accounting and finance roles evolve from traditional processing functions into strategic business partners, a deeper commercial understanding of the business is becoming essential," she notes.
Moreover, she says creating an environment that encourages cross-disciplinary exposure — such as collaborations with operational, marketing, and technology teams — is critical for professional development and talent retention.
"Timely recognition, continuous development opportunities, and assigning purposeful, impactful roles are key motivators, particularly for younger professionals in the workforce."
Iris Goh, director, talent, Forvis Mazars Singapore
Goh adds that to retain top talent, organisations must provide clear career pathways, regular feedback, and structured guidance, helping individuals visualise long-term growth within the business.
"Increasingly, employees value not just remuneration but purposeful work and personal development opportunities."
The need to 'supercharge'
In a bid to keep up, finance professionals are faced with the need to 'supercharge', opening doors to effectively adapt to market shifts and contribute to the success of businesses in the changing landscape.
Justin Lim, partner, head of outsourcing at Forvis Mazars Singapore, believes there is a growing need to 'supercharge' financial roles like accounting to keep pace with today’s rapidly evolving market.
"The finance function is no longer just about crunching numbers. Businesses today face increasing complexity and tighter regulations, with the need for faster decision-making cycles where finance professionals must step into more strategic and forward-looking roles."
He highlights that the industry must embrace technology — using automation, data analytics, and AI to move beyond routine tasks and into value-added work to stay relevant.
Lim concedes that upskilling within the Finance function becomes crucial, as accountants and finance teams need to evolve from being purely technical experts to becoming strategic partners who understand the broader business landscape and can translate data into insights.
"This transformation is not just about tools or skills, but also a mindset shift," Lim says. "A modern finance function is agile, forward-looking, and deeply embedded in the business — helping to shape decisions, not just report on them. In many ways, we’re witnessing the redefinition of finance from a back-office function to a core driver of growth and resilience."
Upskilling
Lim thinks that while there has been good progress, many accounting and finance teams are still not adequately upskilled to meet the demands of their evolving roles.
"Today's expectations go far beyond traditional bookkeeping or financial reporting — finance is now expected to deliver insights, support business strategy, and navigate increasing regulatory complexity."

He observes that some organisations have taken encouraging steps, citing that more finance teams undergoing training in data analytics, with tools like Power BI becoming part of their day-to-day work.
"Additionally, others are gradually integrating automation and AI into tasks such as invoice processing or reconciliation, freeing up time for higher-value work."
However, Lim concedes the reality is that many teams are still in the early stages.
"Upskilling efforts often focus too narrowly on technical skills, without addressing the broader capabilities needed — like critical thinking, effective communication, and commercial awareness — essential skillsets required for finance professionals to step into true business partner roles."
To keep pace with the market, Lim advises that upskilling must be continuous and embedded into the culture — not treated as a one-off initiative.
"The future of finance isn’t just about knowing the numbers— it’s about understanding what the numbers mean for the business and how to act on them."
Justin Lim, partner, head of outsourcing, Forvis Mazars Singapore
Addressing skill gaps
For the task of addressing concerns, Lim explains that in the Asia-Pacific region, one of the most critical skills gaps in the accounting and finance function lies in data literacy and strategic thinking.
"While technical accounting knowledge remains strong across the region — attributed to rigorous education systems and professional standards — there’s often a lag in interpreting data, using digital tools effectively, and translating financial information into actionable business insights."
Another key gap, according to him, is in business partnering and communication skills.
"Finance professionals are increasingly expected to collaborate across departments and contribute to decision-making, but many still feel more comfortable in traditional, siloed roles."
Lim says bridging this gap requires not just training, but also a cultural shift in how finance interacts with the wider business.
Technology adoption is another area that has uneven progress. While larger markets like Singapore, Australia, and Hong Kong are more advanced in adopting automation and analytics tools, many emerging markets in the region still rely heavily on manual processes.
"This creates an opportunity — and essentially a need — to accelerate digital upskilling in a scalable and relevant way to local market conditions."
Forecasts
In 2025, accounting and finance professionals will face unique challenges — from navigating ongoing economic uncertainty and political instability to keeping up with rapid digital disruption and evolving regulatory demands.
To brace for the challenges expected within the workforce, Lim notes that one of the most significant shifts will be the continued automation of routine tasks.
"AI and machine learning tools are increasingly handling processes, including data entry, reconciliation, and even basic reporting," he explains. "While this boosts efficiency, it also means professionals must shift focus to more strategic and analytical roles — which not everyone is prepared for."
At the same time, regulatory complexity is increasing, especially in areas such as ESG reporting, tax transparency, and cross-border compliance.
"Finance teams must stay agile and well-informed, particularly in Asia-Pacific, where regulatory changes can vary widely by jurisdiction."
Further, Lim highlights that cybersecurity and data governance are also emerging challenges. "As finance functions become more digitised and data-driven, professionals need to understand how to protect sensitive information and ensure data integrity — even if they aren’t IT experts."
To gear up, Lim recommends that professionals must take a proactive approach to learning, which means that they should be open to developing digital fluency — not just in using new tools but in understanding how they impact business decisions.
It also means strengthening soft skills: communication, adaptability, and critical thinking will be just as important as technical knowledge.
"To prioritise and focus on the growth of the core business, companies could consider outsourcing some of their support and operational services to trustworthy global outsourcing firms to navigate through these challenges, allowing professionals to upskill in other areas that will be pertinent to their growth and stay abreast with the trends and demands of the industry."
Ultimately, according to Lim, finance professionals and accounting firms who embrace change and commit to lifelong learning will be the ones who thrive in 2025 and beyond.