The Chartered Institute of Management Accountants (CIMA) has welcomed the Skills England Annual Skills Report 2026 for prioritising skills gaps, economic growth and preparation for an AI-driven labour market.
The report stresses the need to equip workers for technological change, productivity pressures and shifting workforce demands.
CIMA said the approach could be strengthened by giving more weight to core business skills such as management accounting and financial management, which it views as key to “driving organisational performance, resilience and sustainable growth”.
CIMA CEO Andrew Harding said: “We welcome Skills England’s focus on building a more responsive and future-ready skills system.
“As the UK accelerates towards an AI-enabled economy, there is a clear opportunity to place greater emphasis on the business-critical skills and lifelong learning that underpin effective decision-making, especially in management accounting, financial planning and performance management.”
However, the institute questioned the decision to withdraw Level 7 apprenticeships in accounting and finance.
It warned that cutting funding for Level 7 apprenticeships, including in accounting and finance, could undermine efforts to build a more inclusive and growth-focused skills system.
CIMA UK and Europe vice-president Paul Turner said: “Professional bodies such as CIMA play a critical role in supporting lifelong learning and helping individuals and businesses adapt through continuous reskilling and upskilling.
“The removal of Level 7 apprenticeships in areas such as accounting and finance – one of the UK’s core business skills – is at odds with the ambition to drive growth, opportunity and social mobility.
“These pathways have proven to be a vital route for early career talent to access high-level professional skills while earning and learning.”
CIMA also argued that alongside digital and technical capabilities, employers need professionals who can turn data into insight, support strategy and resilience, and ensure strong financial governance and accountability.
It also called for closer collaboration with professional bodies within the UK’s skills strategy.
Last month, CIMA issued a white paper warning that companies must be ready to keep adapting their business models as global risks intensify and interact unpredictably.
“CIMA welcomes Skills England report, seeks rethink on Level 7 cuts” was originally created and published by The Accountant, a GlobalData owned brand.
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