Accountants retained on SOL - it just adds up

The ATN has welcomed the release of the new Skilled Occupation List by Minister Chris Evans, citing it as a critical element in Australia’s workforce development. Executive Director of the Australian Technology Network (ATN), Ms Vicki Thomson says “A truly national approach to workforce development must be one that recognises the contribution of a range of agencies and stakeholders.

“We are particularly pleased to see the retention of Accountants on the SOL. The shortage of qualified accountants has long been recognized as a major problem in Australia. Despite the recent economic downturn, demand for qualified accountants remains strong. Employers are continuing to experience recruitment difficulty in all of the three occupations in the Accountants occupation group, particularly in the Management Accountant and Taxation Accountant professions. Those who have skills and experience in these two branches of accounting are in high demand”.

ATN universities teach 25% of the nation’s accounting students. With the recovery of the Australian economy, demand for qualified accountants is expected to outstrip supply with the demand for accountants forecasted to increase by 4.1% over the next three years. New areas that require accounting expertise, such as addressing climate change problems via carbon audits, transparent costing, and evaluating projects in the areas of sustainability and greenhouse gas emissions management will mean even greater demand by industry for the accounting professional.

“As a significant contributor to addressing Australia’s long term productivity challenge, the ATN is extremely supportive of a national workforce development strategy that reflects the role higher education plays in underpinning a highly skilled workforce”.