Big 4 Consulting Firms ring the alarm on talent - Amer Iqbal featured in Financial Times

The audit profession is entering a defining moment. After years of talent shortages, the sector is now experiencing layoffs and restructuring as firms rethink how they balance technology, people, and purpose.

Amer Iqbal, innovation consultant and CEO of 5 Ways to Innovate, has been watching the shift and his commentary has been featured in the Financial Times’ Agenda Week. “We’re finally seeing a reckoning where firms are paying the price for their ‘wait and see’ posture in the post-Covid era,” he explains.

At the heart of this transition is the rise of artificial intelligence. Rather than displacing auditors, AI is being deployed to automate repetitive tasks and free professionals to focus on more strategic, judgment-driven work. According to Iqbal, this shift is also transforming how internal audit is viewed. “Internal audit is growing in popularity. The entire function is being reimagined to serve as an early-warning system in an environment where the cycle of uncertainty and change has reached an exponential pace.”

These structural changes are also reshaping careers in the profession. The traditional ladder model is giving way to something more flexible. “Career progression for new recruits today will look very different from past generations — less like climbing a ladder and more like developing a matrix of specializations,” Iqbal says.

For boards, executives, and audit committee members, the takeaway is clear: the future of audit will be built on a smarter blend of human talent and intelligent technology. Those who adapt will not only survive this moment of disruption but lead in the years ahead.

Read the full piece in Financial Times Agenda Week:

After Ringing Alarms over Recruitment, Auditors Are Remaking Their Industry
by Anna Bianca Roach