Are you an accountant willing to move to Australia for Accounting jobs in Australia? Then this guide is the go article for you to get information on how to get your visa, find the right accounting jobs, salary, and more.
Moving to Australia should be your top choice whether you’re a recently qualified accountant looking to travel or an experienced accountant looking for a new challenge overseas.
It is not shocking that Australia is a popular choice for immigrants. It is one of the best places to practice this profession. Moving to Australia requires careful planning, preparation, and knowledge about the place and its work conditions.
In Australia, accounting is a vital and in-demand job with various career options open to those interested in entering the field. In Australia, the accounting industry employs more than 230,000 individuals, according to the Australian Bureau of Statistics.
Public practice is one of the most well-liked branches of accounting in Australia. General practice accountants work for accounting firms and offer their customers various services, such as audit, tax, and advisory services. According to the Institute of Public Accountants, over 60,000 public practice accountants are in Australia.
Corporate accounting is another branch of accounting that is highly sought after in Australia. Corporate accountants are employed by companies and organizations and are in charge of overseeing the financial operations of the latter. They participate in financial reporting, planning, forecasting, and advising the management team on economic issues.
The application of technology in accounting in Australia is one of the most intriguing areas. Technology has significantly impacted the bookkeeping industry, which has improved its accuracy and efficiency. According to a study published in the Journal of Accounting Education, technology in accounting education has been found to enhance students’ comprehension of accounting concepts and boost their desire to learn.
Sustainability and environmental, social, and governance (ESG) reporting is another area of accounting that is attracting focus in Australia. There is a rising need for accountants with knowledge in these fields as people become more conscious of how companies affect society and the environment. Companies that implement sustainable practices typically have better financial performance, according to a study published in the Journal of Applied Accounting Research, which emphasizes the significance of ESG reporting and the function of accountants in this area.
The need for accountants with specialized knowledge in identifying and preventing fraud is growing, and the discipline of forensic accounting is also expanding. The Journal of Forensic Accounting Research released a study in which it was discovered that fraud detection, The integrity of financial reporting, and the protection of groups from financial loss depend heavily on prevention.
There are chances for accountants to specialize in cutting-edge fields like blockchain and cryptocurrency in addition to traditional accounting positions. According to a study released in the Journal of Accounting and Public Policy, blockchain technology can potentially revolutionize the accounting industry by increasing the speed and security of financial transactions.
Getting a Visa for Australia
You must first get a passport before continuing. A few options are available depending on your specific situation and how long you intend to stay in Australia.
The type of visa that will be required will depend on whether you’re searching for long-term or temporary accounting positions.
Two popular ways to obtain an immigration permit are:
Working Holiday Visa (WHV)
This is typically the simplest choice for those under 31 who want to work, live, and travel in Australia for up to a year. Throughout the year, processing times may change, so if you decide to submit, check here to find out how long it will take. If you stay another year rather than return home, there is also an option.
Skilled Migration visa
Due to a shortage of skilled accountants in Australia, either of the Temporary Skills Shortage (TSS) visas is an excellent choice if you stay a while. Short-term (up to two years) and medium-term visas are available through this path. (up to four years with a pathway to permanent residency).
To find out where you stand, our best recommendation is to talk with an immigration specialist. As with most visa forms, it’s simple to complete but does take time, so bear that in mind.
Finding the Right Accounting Job in Australia
Because they are regarded as equivalent to local qualifications, UK accounting qualifications are respected and recognized by employers throughout Australia (which simplifies life!). Accounting positions in Australia are usually the same as those you are accustomed to in the UK, despite minor title differences.
There are many employment possibilities for accounting professionals, whether you’re looking for temporary or fixed-term roles to keep things running while traveling or want to put down some roots and make a permanent move.
In Australia, backpacking is very popular, and there are many short-term chances (from a few months to a year) geared toward passing tourists. Many skill sets in demand are suitable for travelers, ranging from assistant accountants and bookkeepers to financial/management accountants.
Some people searching for short-term temporary work are frequently content to move down a role level because their top priority is finding employment to perform competently, thereby removing the stress of pursuing challenges and advancement while living in Sydney.
Accounting Jobs in Australia Salary
Australian accountants typically earn $93,211 annually or $47.80 per hour. Most experienced workers earn $117,006 annually, while entry-level jobs start at $79,403 annually.
Can international students obtain employment in accounting in Australia?
Finding work in any field is difficult, but accounting is one of Australia’s most in-demand sectors. The global pandemic has made this task even more difficult. The virus has unquestionably had an impact on the Australian population.
Don’t fret if you are having trouble finding employment in the accounting field. As an accounting student or recent graduate, there are a few things you can do to enhance your employment prospects while you wait for the perfect opportunity.
The Australian government has lifted the 40-hour limit for international students working per fortnight in several high-priority sectors. Your ability to develop crucial soft skills, like communication, which you will need when taking on a position in accounting, can be greatly aided by working in hospitality or tourism.
As an alternative, volunteering can be an excellent method to assist you in finding employment because it allows you to develop various soft skills, show that you have a strong work ethic, and begin to develop a professional network. Here are some excellent starting points for your volunteer job hunt.
Roles in the Australian accounting industry
- An internal or external auditor
- Compliance auditor
- Financial or management accountant
- Chief Financial Officer (CFO)
- Business or financial analyst
- Forensic accountant
- Risk manager
- A tax accountant or bookkeeper
- Treasurer, payroll, accounts payable or accounts receivable
- Funds or a credit control manager
What accounting sector is right for me?
According to the Association of Chartered Certified Accountants (ACCA), accountancy is a particular function because it is crucial to every company and industry, regardless of size.
This allows accountants to direct their careers toward the industries and jobs that most interest them. As an accountant, you may choose to operate in a variety of sectors, which include but are not limited to:
Service to the public/not-for-profit:
Government agencies and nonprofit organizations.
Private finance, investments, and pensions for individuals.
Companies that offer services to a variety of customers.
Roles held internally by profit-making companies.
Monetary, human resources (HR), and technological aspects (IT). Teams are merged, which allows accountants to advance their skills.
Advisor services and outsourcing:
Working for a variety of companies across many industries that lack in-house auditors.
What are the different types of accountants?
Qualifications in business, accounting, and finance have always been building blocks for various job paths. Here are seven new employment paths that a Certified Practising Accountant (CPA) could take, in addition to the more conventional accounting jobs still available for public practitioners and tax agents:
- Forensic accountant
- Crypto accountant
- ESG accountant
- International accounting specialist
- Counter-terrorism financial investigator
- Start-up accountant
- Digital accountant
This might be your place if you consider yourself a little detective. Financial sleuths known as forensic accountants investigate crimes like embezzlement, fraud, money laundering, and civil litigation.
By April 2022, more than one million Australians (or about 5% of the adult population), according to Roy Morgan’s research, held cryptocurrency.
Unsurprisingly, many of these individuals (as well as organizations) are looking for specialized accountants to assist them in managing their investments in cryptocurrency assets.
Environmental, social, and governance (ESG) accounting, or sustainable accounting, entails assessing, reporting on, and documenting an organization’s environmental and social effects.
ESG accountants are charged with finding ways to guarantee a company is both environmentally and socially responsible and lucrative, with many organizations now prioritizing a sustainable approach to making money.
International accounting specialist
Accessibility to the world’s financial marketplaces has never been greater. Many businesses looking to grow internationally hire specialized international accountants to handle complex tasks like cross-border transactions, global trade agreements, and foreign investments.
Counter-terrorism financial investigator
A counter-terrorism financial investigator uses their expertise to dismantle the financial operations of terrorist organizations, much like a forensic accountant but with a more specialized focus.
Australia’s start-up community is thriving, ranked eighth among start-up ecosystems worldwide.
Businesses from all industries will need accounting assistance as more entrepreneurs bring their products to market. Alternatively, give your solid business background and strategic expertise, you might prefer to start your company venture.
A 2021 report states that the demand for specialized programming and data analytics skills has increased for over five years. For jobs in finance and accounting, employers are highly interested in candidates with experience with tools like Python and Scrum.
Organizations increasingly turn to accountants for guidance on business transformation facilitated by technology.
FAQs On Accounting Jobs In Australia
Does Australia Recognize ACCA?
One of the most well-known degrees in the world is the ACCA, and holders of that degree and all Chartered Financial Accountancy Examinations are accepted for immigration reasons in Australia.
Does Australia Recognize CIMA?
Yes, individuals who have earned the complete Chartered Institute of Management Accounting Qualification may use this Certificate to apply for immigration to Australia. Candidates must possess Chartered Status and have completed the CIMA Professional levels.
Conclusion On Accounting Jobs In Australia
In conclusion, many job options are available for those interested in a career in accounting, which is a vital and in-demand occupation in Australia. Many diverse and challenging career paths are accessible, including corporate accounting, forensic accounting, technology, and public practice. The accounting field is continuously changing due to the increased use of technology and emphasis on sustainability.