The strong support Accountants had from CPA Australia and Chartered Accountant ANZ is gone with the peak industry bodies now preparing a report to the department of immigration acknowledging that international graduates are having difficulties finding jobs in Australia, according to the Australian Financial Review

The federal government is expected to review the skills occupation list early next year and will have little basis to justify keeping the occupation on the list given the about-face of the peak bodies.

Recently, based on the Australian ­Workforce and Productivity Agency’s recommendation, a reduced ceiling of approximately 5000 places, or 3 per cent of the domestic workforce, was set for Accountants in 2014-15. This was despite the claim by the major accounting bodies that there were shortages in the occupation. However, now for the first time, they have publicly acknowledged the difficulties international ­accounting graduates have in finding professional work in Australia, says the AFR thus effectively wiping the significant support the occupation has had to keep it on the SOL.

“In an about-face, CPA Australia and Chartered Accountant ANZ now say the difficulties of overseas graduates have finding jobs are “well ­understood”, and they have “a number of programs in place at the local, state and federal level, and through ­universities around Australia aimed at supporting international ­students” reports the AFR.

It is understood the change in stance will form part of a joint submission from the accounting bodies to the Department of Immigration and Boarder Protection next week.

The AFR reports that international accounting students were a cash cow for universities, ­making up a record 79 per cent of the 17,600 enrolled postgraduate students in 2013, and about 55 per cent of the more than 25,400 enrolled ­undergraduate ­students.