The Accounting Professional Year (PY) Program, which helps international accounting students get work experience and improve their migration chances, is set to be discontinued. This decision, made by CPA Australia, Chartered Accountants ANZ, and IPA (Institute of Public Accountants), comes after a significant decline in enrollments and a lack of government action to modernize the program.
Why is the Accounting PY Program Ending?
Over the years, the Accounting PY Program has played an important part in helping international students adapt to the Australian job market. However, due to some factors, including a significant decline in student participation and uncertainty in government immigration policies, the program is no longer sustainable.
- Drop in Enrollments: In 2018, 7,122 students enrolled in the program, but by 2024, this number goes to just 340.
- Government Inaction: Despite repeated requests, no significant changes were approved to modernize the program, such as making it more flexible or introducing new learning models.
With no possible solutions, new enrollments will cease from March 5, 2025, and the program will officially conclude by May 1, 2026.
What’s next for the Accounting Profession?
Even though the PY Program has ended, professional accounting bodies actively seek new initiatives to attract and support international students. These include:
- Directly promoting accounting careers to university, TAFE students, teachers, parents, and the business community.
- Developing new, innovative pathways into the profession for both entry-level candidates and experienced professionals from relevant sectors.
- Encouraging the Australian government to reconsider its policy on capping international student numbers.
The demand for accountants in Australia will remain high, with projections indicating a need for 32,400 additional accountants in the next 10 years. However, as structured pathways like the PY Program are becoming less common, aspiring international students must stay updated on changing migration policies and explore alternative routes to obtain an Australian Permanent Residency (PR).
We are here to guide you through the best migration pathways, skills assessments, and visa options to help you attain your professional and migration goals. Contact us today to discuss your options!
Disclaimer: The above information is not tailored to personal circumstances.
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