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Professional bodies say they’ve been left with no option, but to cease the program following a sharp decline in participants and barriers towards modernising the program.
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Accounting bodies axe professional year program for international students
21 February 2025
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8 minute read
CPA Australia, Chartered Accountants ANZ, and Institute of Public Accountants have informed the government of their intention to cease the Accounting Professional Year Program with the steep decline in the number of participants making the program “financially unsustainable”.
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In a public statement, the three bodies said while the decision to end the Accounting PY Program was a difficult one, the number of enrolments in the program has decreased from 7,122 in 2018 to just 340 in 2024.
New enrolments in the program will cease from 5 March 2025 and the program will conclude all activity no later than 1 May 2026.
The accounting bodies said the dramatic decline in enrolments could be partly attributed to the lack of response from the government to requests from the joint bodies to allow changes to be made to modernise the program, as well as general uncertainty created by government immigration policy.
In a submission to the Department of Home Affairs in December 2023, the accounting bodies provided eight key recommendations to improve the program to make it more attractive.
This included allowing for more flexible delivery over a shorter duration, as well as permitting the accounting bodies to introduce or approve alternative modes of delivering the formal learning and work experience components of the program.
The accounting bodies previously warned the government in November 2024 that urgent action was needed to upgrade the program to ensure it was fit for purpose.
“After more than a year of attempting to engage with the government, the three bodies did finally receive acknowledgement of our recommendations on February 17, 2025, but we were disappointed to find that the Department of Home Affairs’ response did not address our pressing concerns,” the joint bodies said.
“Rather, the response simply deferred consideration of the Professional Year Program until after the government has completed its review of the points test for migration at a date yet to be announced.”
Despite persistent efforts to engage with the government and the office of the Minister for Home Affairs, Minister for Immigration, Minister for Education, and Minister for Skills and Training, the joint bodies said that no action has been forthcoming.
“The accounting bodies have agreed they have no option but to discontinue the Accounting PY Program,” the statement said.
“The decision to cease the Accounting Professional Year Program is particularly regrettable given the accounting profession’s well-documented recruitment challenges.
“Attracting the next generation of talent to our profession remains a significant challenge as supply is struggling to keep up with demand, and the pressure on the pipeline to meet the demand is increasing, with the data forecasting an extra 32,400 accountants will be needed in 10 years.”
CA ANZ, CPA Australia, and the IPA said they would continue to explore new initiatives to address the shortfall of new entrants into the profession, such as directly promoting accounting to university and TAFE students, teachers, parents, and the business community.
“We are also active in creating new, innovative pathways into the profession at the entry level, as well as for more experienced professionals from relevant sectors,” it said.
“[We] urge the government to properly engage with the profession to help address the shortfall which will undoubtedly have a damaging effect on Australian businesses and communities and the country’s economic prosperity.
“This includes the government rethinking its intent to cap the number of international students coming to Australia which is creating further uncertainty for the profession.”
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