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26 AAT backs Financial Services Skills Compact to support upskilling and boost employability </span><!----><!----><!----><!----><!----></nav></fab-breadcrumb></div><!----><div appcmscontent class="page page--basic-page"><div class="page__title-container"><div class="page__title"><h1><strong>AAT backs Financial Services Skills Compact to support upskilling and boost employability</strong></h1><!----><!----><!----><!----><!----><!----></div></div><!----><!----><!----><div class="page__container--basic"><!----><div class="page__main-content page__main-content--basic"><app-cms-content-switch _nghost-ng-c4173657642 ngh="2"><div _ngcontent-ng-c4173657642><div _ngcontent-ng-c4173657642 class="components-wrapper"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><div _ngcontent-ng-c4173657642 class="page__container component component__fab-text"><p>AAT has announced support for the <a class="ga-cta-push" href="https://financialservicesskills.org/skills-compact/" target="_blank" rel="noreferrer noopener nofollow">Skills Compact</a>, a landmark shared agreement between government, the Financial Services Skills Commission, and employers to close skills gaps. This follows UK labour market data <a class="ga-cta-push" href="https://www.ons.gov.uk/employmentandlabourmarket/peoplenotinwork/unemployment/datasets/vacanciesbyindustryvacs02" target="_blank" rel="noreferrer noopener nofollow">published</a> recently which reveals 30,000 job vacancies in the finance and insurance sector, down 2.6% compared to the last quarter.</p><p>Despite an environment where more job seekers are hunting down fewer opportunities, employers are struggling to recruit people with key skills, including communication, management and digital literacy. These skills can help maximise the benefits brought about by technology, such as AI, while ensure ethical and responsible oversight. <a class="ga-cta-push" href="https://www.aat.org.uk/files/filling-the-gap-chapter-3-social-and-economic-impact.pdf" target="_blank" rel="noreferrer noopener nofollow">AAT research</a> shows that the accounting and bookkeeping sector could grow by £8bn through productivity gains realised by AI, yet skills shortages are impeding progress. AATâs <a class="ga-cta-push" href="https://www.aat.org.uk/files/aat-filling-the-gap-report-chapter-1-current-landscape.pdf" target="_blank" rel="noreferrer noopener nofollow">findings</a> also show that over a third of employers in the sector have struggled to recruit for finance and accounting positions in the last year, meaning substantial economic gains remain out of reach. </p><p>The ONS data follows <a class="ga-cta-push" href="https://www.aat.org.uk/files/aat-filling-the-gap-report-chapter-1-current-landscape.pdf" target="_blank" rel="noreferrer noopener nofollow">AAT research</a> that reveals businesses are looking elsewhere to secure talent and plug skills gaps, with 27% of private sector accountancy firms are already outsourcing work overseas. This demonstrates the need to invest in domestic skills supply, not only to address immediate shortages in the finance sector, but to build a strong talent pipeline that can add value across the wider UK economy.</p><p>The potential benefit of closing skills gaps is significant, with AAT research demonstrating that upskilling in power skills such as leadership could add £1.2bn to the economy. <a class="ga-cta-push" href="https://www.aat.org.uk/files/filling-the-gap-chapter-3-social-and-economic-impact.pdf" target="_blank" rel="noreferrer noopener nofollow">Research</a> also shows that targeted investment in digital literacy training could reduce these skills gaps in accounting by up to 9%. As a supporter of the Skills Compact, AAT supports the goals of investing in upskilling, including in AI, while building routes for new talent to help make these potential sector gains a reality.</p><p><strong>Claire Bennison, Executive Director of Customer, Partnerships, and Innovation at AAT said: </strong>â<em>Supporting the Skills Compact is an extension of our firm commitment to tackle skills shortages in professional and business services. Itâs why we embed digital skills across our entire qualification suite, ensure our CPD offering to members matches skills needs, and deliver short courses for finance and non-finance workers alike. </em> </p><p><em>Taking action to close skills gaps is vital if we are to unlock individual potential and drive growth. ONS data shows that productivity is in the doldrums with a persistent drop in employment at the same time as employers are crying out for skilled talent. Through the collective action of the Skills Compact we can make the essential progress needed to meet workforce demands and in turn power productivity.â</em> </p><p><strong>Claire Tunley, Chief Executive, Financial Services Skills Commission, said:</strong> â<em>The skills challenge facing the sector cannot be addressed by employers alone; it requires collaboration across industry, professional bodies, educators and government. Through the Financial Services Skills Compact, we have a once-in-a-generation opportunity to bring these partners together, meaning that more than 270,000 workers will benef
26it from investment in their skills.</em> </p><p><em>Thatâs why weâre pleased to welcome the AAT as supporters of the Skills Compact. As a leading professional body, they will help us to make progress by representing the voices of 150,000 members and students. We look forward to working with the association on this collective effort to invest in people, develop talent pipelines and close the sectorâs skills gaps.</em>â </p></div><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></div></div><!----></app-cms-content-switch><!----></div></div><!----><!----><!----></div></app-cms-content><!----><!----></div></div><fab-footer ngh="8"><fab-cobrowsing _nghost-ng-c2873461040 ngh="6"><div _ngcontent-ng-c2873461040 class="co-browser"><div _ngcontent-ng-c2873461040></div></div><fab-modal _ngcontent-ng-c2873461040 class="lms-get-help-modal" ngh="5"><span class="fab-modal"><a class="fab-modal__link"><!----></a><!----></span></fab-modal></fab-cobrowsing><div class="footer dont-print"><div class="footer__container"><div class="row"><div class="footer__info col-xs-12 col-sm-6 col-md-offset-1 col-md-4"><a href="/" alt="homepage"><img alt src="https://www.aat.org.uk/assets/images/shared/aat_logo_rev_rgb.svg"></a><!----><!----><p class="footer__address">The Association of Accounting Technicians.<br>30 Churchill Place, London E14 5RE<br>Registered charity no.1050724.<br>A company limited by guarantee (No. 1518983).</p></div><div class="footer__links col-xs-12 col-sm-3 col-md-2 row"><div class="footer__links__category col-xs-12 col-sm-10"><h6><strong>About AAT</strong></h6><div class="row"><a class="about-aat" href="/about">About us</a><a class="about-aat" href="/about/careers">Careers at AAT</a><a class="about-aat" href="/deliver">Become a training provider</a><a class="about" href="/about/media-centre/news">News</a><a class="Standards and requirements" href="/membership/standards-requirements">Standards</a><a href="/about/help-and-support">Help and support</a><a class="about-aat" href="/about/help-and-support">Contact us</a><!----><!----></div><!----><!----></div><!----></div><div class="footer__links footer__links--community col-xs-12 col-sm-3 col-md-2 row"><div class="footer__links__category col-xs-12 col-sm-12"><h6><strong>Communities</strong></h6><div class="row"><a target="_blank" href="https://www.facebook.com/youraat/"><i class="icon icon-facebook"></i><span>Facebook â YourAAT</span></a><a target="_blank" href="https://www.linkedin.com/company/aat"><i class="icon icon-linkedin"></i><span>LinkedIn</span></a><a target="_blank" href="https://x.com/YourAAT"><i class="icon icon-x"></i><span>X @YourAAT</span></a><a target="_blank" href="https://www.instagram.com/youraat/"><i class="icon icon-instagram"></i><span>Instagram</span></a><a target="_blank" href="https://www.tiktok.com/@youraat"><i class="icon icon-tiktok"></i><span>TikTok @youraat</span></a><a target="_blank" href="https://www.youtube.com/@Your_AAT"><i class="icon icon-youtube"></i><span>YouTube</span></a><a target="_blank" href="https://www.aatcomment.org.uk/"><i class="icon icon-aat-comment"></i><span>AAT Comment</span></a><a target="_blank" href="https://jobs.aat.org.uk/"><i class="icon icon-plus"></i><span>Careers Hub</span></a><a target="_blank" href="https://apprenticejobs.aat.org.uk/"><i class="icon icon-plus"></i><span>Apprenticeships Hub</span></a><a target="_blank" href="https://forums.aat.org.uk/Forum/"><i class="icon icon-aat-discussion-forums"></i><span>Discussion forums</span></a><!----></div><!----><!----></div><!----></div><div class="footer__push col-xs-12 col-sm-offset-6 col-md-offset-0 col-sm-6 col-md-3"><h6><strong>Find an accountant</strong></h6><p>AAT licensed members offer accounting and bookkeeping services.</p><fab-button _nghost-ng-c2006220306 ngh="7"><!----><!----><a _ngcontent-ng-c2006220306 fab-blur target="_self" href="/find-an-accountant-or-bookkeeper" aria-label="Search the AAT licensed member directory" class="fab-button fab-button--primary"><span _ngcontent-ng-c2006220306 class="fab-button__copy fab-button__copy-- fab-button__copy__type-"><!----><span _ngcontent-ng-c2006220306 class="fab-button__copy__text">Search the AAT licensed member directory</span><!----></span><!----></a><!----><!----></fab-button><!----></div><div class="be-ix-link-block"></div><div class="footer__bottom col-xs-12 col-md-offset-1 col-md-11 row"><div class="footer__bottom__links col-xs-12 col-sm-6 col-md-8 row"><a href="/policies/privacy">Privacy notice</a>
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29ort upskilling and boost employability","created":"2026-09-18T08:00:00Z","changed":"2026-09-18T14:17:08Z","promote":0,"sticky":0,"defaultLangcode":1,"revisionDefault":1,"revisionTranslationAffected":1,"metaTags":{"title":"AAT backs Financial Services Skills Compact","canonicalUrl":"https://www.aat.org.uk/about/media-centre/news/aat-backs-financial-services-skills-compact-support-upskilling-and-boost-employability"},"path":null,"menuLink":null,"publishedAt":"2026-09-18T14:09:47Z","adminTitle":"AAT backs Financial Services Skills Compact to support upskilling and boost employability","date":"2026-09-18T07:00:00Z","excludeFromSearch":0,"image":null,"mainImage":{"alt":"Claire Bennison AAT","display":1,"description":null,"upload":null,"title":null,"targetId":8214,"width":1919,"height":1281,"uri":"public://2026-09/claire_bennison-1344-1.jpeg","url":"https://www.aat.org.uk/cms-assets-public/2026-09/claire_bennison-1344-1.jpeg"},"newsType":[{"id":"367dd00a-c33b-4456-8ed6-3a9271c1d45a","tid":2,"uuid":"367dd00a-c33b-4456-8ed6-3a9271c1d45a","revisionId":2,"langcode":"en","vid":"news_type","revisionCreated":null,"revisionUser":null,"revisionLogMessage":null,"status":1,"name":"AAT News","description":null,"weight":0,"parent":0,"changed":"2016-08-30T08:55:14Z","defaultLangcode":1,"revisionDefault":1,"revisionTranslationAffected":1,"metatag":null,"path":"/taxonomy/term/2","publishOn":null,"unpublishOn":null,"accessRoles":["all"]}],"referenceFields":{"newsType":"taxonomy_term","subjectMatter":"taxonomy_term"},"taxonomyTerm":["367dd00a-c33b-4456-8ed6-3a9271c1d45a","439a9689-f62b-433a-809c-a020015565e8"],"notesForEditors":null,"review":"2027-03-17T00:00:00Z","seoTitle":"AAT backs Financial Services Skills Compact","subjectMatter":[{"id":"439a9689-f62b-433a-809c-a020015565e8","tid":10899,"uuid":"439a9689-f62b-433a-809c-a020015565e8","revisionId":10899,"langcode":"en","vid":"subject_matter","revisionCreated":null,"revisionUser":null,"revisionLogMessage":null,"status":1,"name":"Partnerships","description":null,"weight":0,"parent":0,"changed":"2023-10-25T11:06:21Z","defaultLangcode":1,"revisionDefault":1,"revisionTranslationAffected":1,"metatag":{"tag":"meta","attributes":{"name":"title","content":"Partnerships | CMS"}},"path":"/taxonomy/term/10899","publishOn":null,"unpublishOn":null,"accessRoles":["all"]}],"summary":"\u003Cp>Investing in future ready skills can boost employability while unlocking multi-billion-pound gains across accounting and finance.\u003C/p>","accessRoles":["all"],"contentType":"aat_basic_page","body":null,"basicPageBodyParagraphs":[{"fabTextContent":"\u003Cp>AAT has announced support for the \u003Ca class=\"ga-cta-push\" href=\"https://financialservicesskills.org/skills-compact/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Skills Compact\u003C/a>, a landmark shared agreement between government, the Financial Services Skills Commission, and employers to close skills gaps. This follows UK labour market data \u003Ca class=\"ga-cta-push\" href=\"https://www.ons.gov.uk/employmentandlabourmarket/peoplenotinwork/unemployment/datasets/vacanciesbyindustryvacs02\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">published\u003C/a> recently which reveals 30,000 job vacancies in the finance and insurance sector, down 2.6% compared to the last quarter.\u003C/p>\u003Cp>Despite an environment where more job seekers are hunting down fewer opportunities, employers are struggling to recruit people with key skills, including communication, management and digital literacy. These skills can help maximise the benefits brought about by technology, such as AI, while ensure ethical and responsible oversight. \u003Ca class=\"ga-cta-push\" href=\"https://www.aat.org.uk/files/filling-the-gap-chapter-3-social-and-economic-impact.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">AAT research\u003C/a> shows that the accounting and bookkeeping sector could grow by £8bn through productivity gains realised by AI, yet skills shortages are impeding progress. AATâs \u003Ca class=\"ga-cta-push\" href=\"https://www.aat.org.uk/files/aat-filling-the-gap-report-chapter-1-current-landscape.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">
29findings\u003C/a> also show that over a third of employers in the sector have struggled to recruit for finance and accounting positions in the last year, meaning substantial economic gains remain out of reach. \u003C/p>\u003Cp>The ONS data follows \u003Ca class=\"ga-cta-push\" href=\"https://www.aat.org.uk/files/aat-filling-the-gap-report-chapter-1-current-landscape.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">AAT research\u003C/a> that reveals businesses are looking elsewhere to secure talent and plug skills gaps, with 27% of private sector accountancy firms are already outsourcing work overseas. This demonstrates the need to invest in domestic skills supply, not only to address immediate shortages in the finance sector, but to build a strong talent pipeline that can add value across the wider UK economy.\u003C/p>\u003Cp>The potential benefit of closing skills gaps is significant, with AAT research demonstrating that upskilling in power skills such as leadership could add £1.2bn to the economy. \u003Ca class=\"ga-cta-push\" href=\"https://www.aat.org.uk/files/filling-the-gap-chapter-3-social-and-economic-impact.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Research\u003C/a> also shows that targeted investment in digital literacy training could reduce these skills gaps in accounting by up to 9%. As a supporter of the Skills Compact, AAT supports the goals of investing in upskilling, including in AI, while building routes for new talent to help make these potential sector gains a reality.\u003C/p>\u003Cp>\u003Cstrong>Claire Bennison, Executive Director of Customer, Partnerships, and Innovation at AAT said: \u003C/strong>â\u003Cem>Supporting the Skills Compact is an extension of our firm commitment to tackle skills shortages in professional and business services. Itâs why we embed digital skills across our entire qualification suite, ensure our CPD offering to members matches skills needs, and deliver short courses for finance and non-finance workers alike. \u003C/em> \u003C/p>\u003Cp>\u003Cem>Taking action to close skills gaps is vital if we are to unlock individual potential and drive growth. ONS data shows that productivity is in the doldrums with a persistent drop in employment at the same time as employers are crying out for skilled talent. Through the collective action of the Skills Compact we can make the essential progress needed to meet workforce demands and in turn power productivity.â\u003C/em> \u003C/p>\u003Cp>\u003Cstrong>Claire Tunley, Chief Executive, Financial Services Skills Commission, said:\u003C/strong> â\u003Cem>The skills challenge facing the sector cannot be addressed by employers alone; it requires collaboration across industry, professional bodies, educators and government. Through the Financial Services Skills Compact, we have a once-in-a-generation opportunity to bring these partners together, meaning that more than 270,000 workers will benefit from investment in their skills.\u003C/em> \u003C/p>\u003Cp>\u003Cem>Thatâs why weâre pleased to welcome the AAT as supporters of the Skills Compact. As a leading professional body, they will help us to make progress by representing the voices of 150,000 members and students. We look forward to working with the association on this collective effort to invest in people, develop talent pipelines and close the sectorâs skills gaps.\u003C/em>â \u003C/p>","type":"fab-text"}],"normalisedContentType":"aat_basic_page","titleAnchorId":"AAT-backs-Financial-Services-Skills-Compact-to-support-upskilling-and-boost-employability","originalContentType":"news_content_type"}]},"h":{},"s":200,"st":"OK","u":"https://api.production.v2.aws.aat.org.uk/content/node?pathAlias=about/media-centre/news/aat-backs-financial-services-skills-compact-support-upskilling-and-boost-employability&status=1&loadRef=1","rt":"json"},"3467833950":{"b":{"totalHits":1,"hits":[{"id":"df3d269a-3679-4dbd-9b00-cda04dc820aa","friendlyType":null,"files":null,"pathAlias":"about/media-centre","nid":9792,"uuid":"df3d269a-3679-4dbd-9b00-cda04dc820aa","vid":40369,"langcode":"en","revisionTimestamp":"2026-07-10T08:14:56Z","revisionUid":249,"revisionLog":null,"status":1,"uid":5,"title":"Media centre","created":"2023-03-01T15:38:33Z","changed":"2026-07-10T08:14:56Z","promote":0,"sticky":0,"defaultLangcode":1,"revisionDefault":1,"revisionTranslationAffected":0,"metaTags":{"title":"Media centre","canonicalUrl":"https://www.aat.org.uk/about/media-centre"},"path":null,"menuLink":null,"publishedAt":"2023-03-01T16:05:53Z","adminTitle":"Media centre","excludeFromGoogleIndex":0,"excludeFromSearch":0,"hero":[{"type":"fab-standard-hero","content":{"title":"Media centre","content":null,"expanded":false,"colourWay":"light","background":"public://2023-03/harriet-foxon-hero.jpg","align":"left","gdprIdentifier":"Harriet Foxon MAAT"}}],"heroCards":[{"type":"fab-journey-cards","journeyCardContent":[{"title":"\u003Cstrong>News\u003C/strong>","subtitle":"","body":"Read the latest news from AAT, a leading voice in finance.","link":"/about/media-centre/news"},{"title":"\u003Cstrong>Media\u003C/strong> enquiries","subtitle":"","body":"Get in touch if you'd like to talk to one of our experts or need an image.","link":"/about/media-centre/enquiries"}]}],"migrateIaProject":0,"seoTitle":"Media centre","socialMediaImage":{"type":"image","imageContent":{"uri":"2023-03/
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