Australia vs New Zealand: What’s Really Happening in Accounting?

Across Australia and New Zealand, accounting and finance teams are navigating a market that is no longer easy to define. While many professionals expected 2026 to feel steadier and more predictable, the first half of the year has shown that stability looks very different depending on which side of the Tasman you are on.

In both countries, finance professionals are being asked to do more than report on what has already happened. Businesses want clearer forecasting, stronger commercial insight, better risk awareness, and faster advice. This is shifting accounting and finance teams away from traditional reporting functions and towards a more strategic role in business decision-making.

The comparison between Australia and New Zealand is particularly interesting because both markets are facing pressure, but in different ways. In Australia, some sectors are still experiencing strong business growth and tightening candidate pools. In New Zealand, volatility, cost pressures, and changing client expectations are creating a more challenging operating environment.

“AI isn’t going to solve a process that is broken. It’s going to improve a process that already exists.”

On a recent Accounting & Finance Market Update, Host Jacqui Fine, Senior Consultant, Accounting & Finance at people2people, was joined by Guest Leanne Allen, CFO at Sagle Constructions, and Guest Melanie Morris, Founder, Head Bookkeeper and Principal Trainer from Training and Beyond, to explore how the accounting and finance markets are evolving across Australia and New Zealand.

In Australia, Leanne described a first half of 2026 shaped by growth, particularly in the construction sector. For her team in Adelaide, a strong project pipeline has created a need to reassess future resources and increase capability. However, this is not simply about adding headcount. As she explained, the priority is finding the right people who can bring the technical skills needed while also fitting the culture and pace of the business. Candidate pools are tightening, and referrals, relationships, and agency support remain important parts of the hiring process.

New Zealand’s experience has been different. Melanie described the start of 2026 as far less predictable than many had expected. Global uncertainty, increased operating costs, importing and manufacturing pressures, fuel concerns, and the ongoing cost-of-living crisis have all flowed into the local market. For bookkeepers, accountants, and finance professionals, this has created a challenging environment where clients need guidance, reassurance, and practical advice more than ever.

Despite these differences, both markets are seeing the role of finance become broader and more strategic. Leanne noted that finance teams are now expected to provide more than “debits and credits”. They are being asked to analyse information, add commentary, and connect that commentary to business risk. This risk lens is becoming more important as businesses deal with fast-moving economic and operational change.

Melanie echoed this from a New Zealand perspective, explaining that businesses now expect accountants and finance professionals to act as guides and strategists. Instead of only looking backwards at what happened last quarter or last year, finance teams are increasingly expected to work in real time and help clients understand what to do next. That shift requires stronger analytical thinking, better advisory skills, and the ability to translate complex information into useful action.

Technology and AI are also shaping both markets, but the message from both guests was clear: human judgement still matters. In Australia, Leanne highlighted the need for professionals who can interpret information, understand what it means for the business, and apply it in context. In New Zealand, Melanie placed strong emphasis on verification. AI can produce confident answers, but finance professionals still need the technical knowledge to review, check, and validate the output.

The recruitment outlook supports this shift. Employers are increasingly looking for hybrid profiles that combine technical accounting skills, commercial acumen, automation awareness, and adaptability. Payroll, senior accounting, and finance manager roles remain in demand, while many teams continue to run leanly under cost pressure. This creates a risk of overload, especially as finance teams receive more requests for data, reporting, forecasting, and strategic input.

Looking ahead, Australia may continue to see strong pockets of demand where business growth and sector activity remain high. However, employers will need to move carefully, assessing not only skills but also mindset, systems capability, and cultural fit. In New Zealand, the remainder of 2026 and 2027 may be shaped by political change, compliance shifts, business closures, redundancies, and changing expectations around value and pricing in professional services.

For both countries, the future of accounting and finance will not be defined by automation alone. It will be shaped by professionals who can combine technical knowledge with commercial judgement, curiosity, communication, and the confidence to guide businesses through uncertainty.

How can accounting and finance leaders stay ahead in Australia and New Zealand?

• Hire for adaptability, not just technical experience, especially in fast-changing sectors.
• Invest in upskilling teams in systems, automation, AI literacy, and verification.
• Strengthen advisory capability so finance teams can support real-time decision-making.
• Review workload and resourcing to reduce burnout in lean finance teams.
• Build stronger risk commentary into reporting, forecasting, and board updates.
• Focus on people who can combine commercial thinking, curiosity, and clear communication.