Accountants working in the Middle East should feel more confident about their job security than this time last year. However, new job opportunities are likely to be thin on the ground – over two-thirds of firms in the region have no plans to add headcount in 2010.

According to a survey by recruiters Robert Half, which took in responses from more than 2,800 hiring managers, 67% of firms in the Middle East have no plans to recruit accounting and finance professionals this year.

Meanwhile, 21% have plans to expand their team and 5% of those surveyed intend to reduce headcount.

“The Middle East region was affected generally by the global recession, with the finance and accounting sector particularly feeling the challenge of lessened demand. It’s too early to predict with confidence, but we are starting to witness some positive signs of improvement in the region,” says James Sayer, senior manager at Robert Half UAE.

But there’s no need to despair entirely. Sayer adds that there’s “stable demand” for financial management, controlling, financial accounting, compliance and risk management expertise in the region.

And more industries are beginning to open their doors to new accountancy positions within countries across the GCC, suggests AnnMarie O’Hara, manager at Hays in the UAE.

“More recently we are seeing an increase in demand for accountants in financial services, FMCG, retail and the oil and gas sectors, and an increase in new opportunities in Oman, Bahrain, Abu Dhabi and Saudi Arabia,” she says.

There’s also optimism to be taken from the Big Four accounting firms in the Middle East, which have been adding to their ranks in the region over the last 18 months.

Perhaps not surprisingly, most firms are keen to court those with a Big Four background, suggests O’Hara, as well as those with experience within an international organisation.

“When it comes to professional qualifications most firms in the region tend to look for ACA/ACCA or CIMA qualifications ahead of a CPA, CMA or an MBA qualification,” she adds.