The migration system review final report and draft strategy released by Australia’s Home Affairs Minister Clare O’Neil has been welcomed by Chartered Accountants Australia and New Zealand (CA ANZ) as an effective path to addressing the nation’s ongoing skills crisis.

“Australia faces the second highest skills shortage in the world, and with accounting shortages still near record levels, CA ANZ is pleased the Minister’s proposed reforms will prioritise the skills we need by opening new pathways to attract and retain global talent,” said Simon Grant, CA ANZ Group Executive Advocacy and International Development.

CA ANZ and CPA Australia’s joint submission to the Department of Home Affairs on the migration system review in December last year identified the skills shortage as the most immediate and pressing issue, particularly for accountants and auditors. 

“As the Skills Priority List will become increasingly important in migration, it is important the list properly recognises the ongoing shortage of and demand for accounting, audit and finance professionals which will only increase as the workforce ages and retires.

CA ANZ is pleased the government’s draft strategy picks up many of the recommendations made in its migration review submission and pre-budget submission, and in CEO Ainslie van Onselen’s representations on behalf of the profession at the Jobs and Skills Summit last year and the Minister’s roundtable consultations earlier this year.

“Accounting bodies have advocated strongly for the focus of Australia’s skilled migrant intake to be on quality rather than quantity, for the criteria used to assess migrant quality to be reviewed, for improved recognition of overseas qualifications and prior learning, and for clearer pathways to permanent residence for skilled migrants and graduates, and we are glad the draft strategy reflects this,” Mr Grant added.

“One of the ways we can better support the work readiness of recent and prospective migrants is by making available the Professional Year Program for Accounting (Accounting PYP), or a version of it,” Mr Grant said. 

The Accounting PYP is a work readiness program, approved by the Department of Home Affairs and available to international students with an accounting degree from at least two years of study at an Australian university, which delivers better employment outcomes and could also be adapted for other areas of skills shortages.

The professional accounting bodies look forward to consulting with the government on the outline of the migration strategy ahead of the final strategy being released later this year.