Major Setback for International Accounting Graduates in Australia
In a significant shift for the accounting profession in Australia, CPA Australia, Chartered Accountants Australia and New Zealand (CA ANZ), and the Institute of Public Accountants (IPA) have announced the end of the Accounting Professional Year Program (PY Program) for international students. This decision follows a sharp decline in enrolments, from 7,122 in 2018 to just 340 in 2024, making the program financially unsustainable.
The announcement has sent shockwaves through the industry, which is already facing a shortage of skilled professionals. With new enrolments set to cease from 5 March 2025 and all activities ending by 1 May 2026, accounting bodies are urging the government to address the growing skills gap and reconsider policies that could further impact the sector.
Why Is the Accounting PY Program Ending?
The Accounting PY Program was designed to help international graduates gain practical experience and meet skilled migration requirements in Australia. However, multiple factors have led to its decline:
- Falling Enrolments –
Numbers dropped from 7,122 in 2018 to just 340 in 2024, making it financially unviable. - Uncertain Immigration Policies –
Changes in immigration rules and visa uncertainties deterred students from enrolling. - Lack of Government Support –
Despite efforts to modernize and adapt the program, government inaction hindered its progress.
Impact on the Accounting Profession
The end of the PY Program adds to the existing challenges in the accounting sector. Projections indicate that Australia will need 32,400 more accountants by May 2034 to meet demand. The PY Program played a crucial role in bridging this gap by equipping international graduates with the necessary skills and experience.
Now, with this pathway closing, accounting bodies are calling for urgent government collaboration to address the skills shortage. They are also pushing for policymakers to reconsider plans to cap international student numbers, which could further harm the industry and the Australian economy.
What This Means for International Students
For international students hoping to build a career in accounting in Australia, the end of the PY Program is a major setback. The program provided a clear pathway to practical experience, networking, and migration eligibility.
- Students already enrolled will receive support until 1 May 2026.
- Those planning to enroll will need to explore alternative pathways to gain relevant experience and qualifications.
Alternative Pathways for International Students
If you are an international student aiming for a career in accounting in Australia, don’t lose hope. Here are some alternative options to consider:
- Explore Other Programs – Some universities and institutions offer similar programs that provide practical experience and networking opportunities.
- Enhance Your Skills – Gain certifications, attend workshops, and complete additional courses to boost your employability.
- Stay Updated – Keep track of immigration policy changes and industry requirements to make informed decisions.
Conclusion
The end of the Accounting Professional Year Program marks a significant turning point for international students and the accounting profession in Australia. As enrolments decline and recruitment challenges grow, collaborative solutions are urgently needed.
By addressing the skills shortage and supporting international students, Australia can ensure the continued growth and success of the accounting profession. CPA Australia, CA ANZ, and IPA remain committed to working with the government and industry stakeholders to navigate these challenges and secure a prosperous future for the profession.
Source: CPA Australia
