In 2024, accountants aspiring for Australia PR must meet stringent eligibility criteria. This typically includes a skills assessment from recognized authorities such as CPA Australia, ICAA, or IPA. They must also achieve the required points in the immigration system, factoring in age, language proficiency, work experience, and education. Candidates submit an Expression of Interest (EOI) via SkillSelect and await an invitation to apply for the appropriate visa subclass. Compliance with health and character standards is essential, and applicants should monitor updates from the Department of Home Affairs for any changes.
The Growing Demand for Accountants in Australia
Employment in Australia looks bright in the year 2024. This surge in demand is largely due to the country’s need for a skilled workforce to fill its gaps, making immigrants with the right skills, experience, and educational credentials even more valuable. Fields such as Healthcare, Information Technology, and Renewable Energy have shown significant growth and improvement, contributing to this demand.
Skills Development and Adaptation
Employees must focus on developing their skills, adapting to technological advancements, and staying competitive. This is crucial as Australia has launched the “Skills in Demand” visa to address the increased movement of workers. The visa includes various routes:
- Specialist Skills Route
- Route for Core Skills
- Essential Skills Pathway
Importance of Finance and Accountancy
Finance plays a critical role in shaping the country and its businesses. Consequently, there is an increasing need for accountants to audit and manage the accounts of large enterprises. Accountants are tasked with a multitude of responsibilities that cannot be easily replaced by software or IT business analysts.
Rising Need for Accountants
Australia currently faces a significant shortage of accountants. By 2026, it is estimated that the country will require 338,362 accountants, with this number increasing each year. Approximately 46% of accounting firms are still in dire need of accountants due to staffing shortages. In the next three years alone, there will be a demand for 30,000 more accounting and finance professionals.
Complex Regulatory Frameworks
Australia’s complex regulatory frameworks and stringent tax laws further necessitate the need for qualified accountants who can prepare finance reports, conduct audits, and ensure smooth business operations.
Differences in Accountant Standards
It’s important to note that being an accountant in your home country may differ significantly from practicing accountancy in Australia. Therefore, meeting eligibility criteria for Australia PR as an accountant is crucial to ensuring compliance with Australian standards.
Educational and Professional Requirements
To apply for PR through any pathway, you will need relevant educational qualifications and proper work experience to be considered by an Australian employer. Make sure your skills align with Australia’s stringent standards to improve your chances of securing employment.
Pathway to Becoming an Accountant in Australia
Eligibility for Australia PR
To work as an accountant in Australia, you must have a certified bachelor’s degree. This can be a Bachelor of Accounting or a Bachelor of Business (Accounting). This typically requires 3 years of full-time study.
Already have your bachelor’s degree and want to further your education? You can apply for a Master of Professional Accounting, which could take 2 years of full-time study.
Skills Assessment and Accreditation
Get a positive skills assessment conducted by a Certified Practising Accountant (CPA) or Chartered Accountants Australia and New Zealand (CA ANZ). To participate in these programs, you will need to apply for accreditation. The Institute of Public Accountants (IPA) also conducts assessments for accountants in Australia.
You can also apply for provincial memberships to further your career.
Work Experience and Internships
Completing an internship at an accounting firm is crucial. Additionally, obtaining a diploma in accounting is the minimum requirement to start working as an accountant in Australia.
SkillSelect and English Proficiency
Through the online SkillSelect system, you can submit an Expression of Interest (EOI). For Eligibility for Australia PR, the IELTS General or Academic requirement is an overall score of 6.0 across all bands. The CPA accepts both Academic and General IELTS bands.
Other approved tests include the Pearson Test of English Academic (PTE Academic), Occupational English Test (OET), and Cambridge C1 Advanced test.
Age and Points Requirement
You should be under 45 years of age and be invited to apply for this visa. Scoring 65 points or more is essential since it is a points-tested visa.
Additional Requirements
You should also be able to pass a medical exam and obtain a police clearance certificate to meet the eligibility criteria for Australia PR.
Primary Tasks of Accountants in Australia
- Assessing the spending patterns of companies and their annual income
- Creating and maintaining budgets
- Preparing financial reports and statements
- Getting tax returns ready for submission
- Managing internal control systems
- Handling cash flow within the company
Conclusion
Getting a job as an accountant and achieving Australian PR needs meticulous documentation, guidance, and submission. Therefore, it is essential to trust experts who handle your case with utmost responsibility and commitment.
