Calls to keep Accountants on SOL

With the Department of Employment stating that there is no shortage of accountants in Australia and calling for accounting to be taken off the Skilled Occupation List for migrants, peak industry bodies and employers alike warn that the shortage will become apparent as the economy picks up.
More new graduates are having a hard time finding work and companies now can afford to be choosy about who to hire, reports The Australian Financial Review.
"Accounting has already been flagged by the Australian Workforce and Productivity Agency, which develops annual advice on the skilled list for DIBP as an occupation now considered a “borderline” inclusion on the list. The agency is doing a special investigation in the supply and demand for accounting skills." says the report.
It’s argued that the link between accountancy and permanent visas has resulted in the number of international graduates finishing undergraduate accounting degrees skyrocketing by 500 per cent between 2001 and 2012.
However the number of Australians studying accounting has fallen 20 per cent since 2001. Peak accounting bodies are thus concerned that if the foreign stream should slow as the Australian economy picks up, a shortage may become apparent.
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