Top 5 Risks Accountants Face in 2025

Running a small accounting practice in Australia is tougher than ever. Between tighter compliance rules, rising insurance costs, and escalating cyber threats, many firms face risks that can hit revenue and reputation. At Abacus, we specialise in protecting accountants. Here are the top five risks to watch in 2025—and what to do about them.

1) Rising insurance premiums
Professional Indemnity (PI) premiums have jumped—some firms report 20–25% annual increases. For small practices on tight margins, that hurts. Packaging PI with Cyber cover can reduce overall cost and simplify renewals.

2) Cybersecurity threats
Professional services are a frequent target. Small firms can lose tens of thousands per incident, not to mention client trust. Cyber insurance is now essential protection alongside good security hygiene.

3) Compliance & regulatory pressure
The ATO and bodies like CPA, CA ANZ and IPA continue to tighten standards. Missing or inadequate PI can leave you non-compliant. Working with a provider who understands these obligations keeps you covered and calm.

4) Claims & coverage gaps
Disputes often stem from unclear wording or assumptions about what’s covered—especially around cyber, statutory liability, or fidelity. Choose specialist, accountant-specific cover to avoid surprises at claim time.

5) Staffing shortages & overload
With most firms struggling to fill roles, workload pressure raises the risk of mistakes, missed deadlines, and client complaints. Insurance is one safety net; streamlined renewals and paperwork lighten the admin load, too.

Bottom line
These risks aren’t going away—but the stress can. Abacus focuses exclusively on accountants, with simple, affordable cover and renewals designed to be stress-free.