Accounting is the most basic framework of business. Without an accounting education, students would be unprepared for the real world. Finance and accounting professionals are expected to help lead the organization on the technical front. However, developing productive relationships with existing and prospective clients is more important than ever in this competitive environment. This paper explores the changing needs of employers and the business community in relation to the balance between technical and soft skills, such as communication skills, business presentation skills and other interpersonal skills. The paper justifies the importance of soft skills for all business graduates, including accountants. The study further explains how soft skills can complement the technical skills taught to ensure that graduates are able to cope up with the demands of a complex global business environment. The role played by accounting educators and the accounting bodies in development of soft skills is reviewed. Another reason for business students to have some background in accounting is owing to sensational corporate scandals taking place in many countries causing extensive damages to the economy and society. In recent years, people in the business world have been held more accountable for their financial practices. The role of academic accounting community for setting the moral tone of the community and providing a nurturing environment for enhancement of ethical motivation and ethical behaviour has also been discussed.