MEDIA RELEASE (NZ)

Chartered Accountants Australia and New Zealand (CA ANZ) has welcomed the decision to reinstate accounting as a standalone subject at NCEA Level 1 from 2028, calling it a vital move to nurture the next generation of Kiwi business leaders.

“This is a critical step forward,” said CA ANZ Chief Executive Officer, Ainslie van Onselen.

“Infometrics forecasts a shortage of 15,000 accountants in New Zealand in the next five years. Reinstating accounting as a standalone NCEA Level 1 subject will greatly strengthen the pipeline of talent into a profession with huge career and earning opportunities, that is vital to New Zealand’s success.

“A professional accounting qualification can open the door to exceptional careers - whether that’s in business, events, the public sector, the music industry or sports management. We need savvy leaders, who know their numbers, to drive New Zealand’s future.

"As well as the diverse opportunities, our members have a median salary of $144,200, more than twice the New Zealand median, which is a big drawcard.

“The curriculum taught in schools directly influences the career choices students make. Allowing students to explore accounting concepts and build their confidence with this material at NCEA Level 1 means that students will be more likely to consider accounting as a career.

CA ANZ has advocated for curriculum reform, warning that merging accounting with business studies and economics into a single NCEA Level 1 Commerce subject risks diluting students’ exposure to core accounting concepts. 

“We’ve seen what happens when we let talent shortages in crucial professions get out of control, whether it’s in health, education, or accounting. Under-investing in essential education can have serious consequences, but we can prevent this in finance and business,” said CA ANZ NZ Government Affairs Leader Lydia Tsen CA.

“Despite the subject having only been taught for one full year, teachers, parents, educators and CA ANZ raised concerns that NCEA Level 1 Commerce is too broad and that the flexibility and variability in the assessments mean not all students are being exposed to fundamental accounting concepts that would set them up for further accounting education.

“We also share the concerns that the gap between NCEA Level 1 Commerce and NCEA Level 2 Accounting is too wide and will affect both students’ performance and their confidence to enrol in Accounting at NCEA Level 2 and 3.

“Although there has been a healthy increase in enrolments in 2024, enrolments in Accounting & Finance Bachelor degrees have fallen overall by around 40% since 2018, and we have seen the impacts, including the critical shortage of auditors during COVID that meant many local government audits were delayed in 2022 and 2023,” said Ms Tsen.

“Of course, there is no silver bullet to solving talent challenges. A strong secondary school curriculum will be very helpful, and CA ANZ is committed to working with the profession to address the shortage of accountants through our ‘Make Epic Things Happen’ campaign and deep engagement with educators, universities and students on campus,” concluded Ms van Onselen.