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Accountants shortage looms – survey

THE shortage of accountants in Western Australia is about to get worse, according to the Institute of Chartered Accountants, with a new study revealing up to two in three accounting students wanting to move either overseas or interstate. These figures are compounded by further findings in the institute’s study that show a further 77 per cent say they went into accounting because of the career opportunities and diversity. About 5 per cent said that salary was a motivator. Institute of Chartered Accountants WA general manager Con Abbott said these findings were not surprising and were consistent with the nature of Generation Y, which was motivated by personal fulfilment rather than personal wealth. “Western Australian businesses wanting to recruit and retain talented accounting staff should be preparing for the emergence of generation Y, who are driven by a desire for greater work life balance rather than personal wealth, this involves adapting to new procedures including, travel opportunities, further education, more flexibility and career progression,” Mr Abbott said. Interestingly, the survey also revealed that all students have very different career expectations, with 10 per cent expecting to be chief executive officers in 10 years, 15 per cent expect to be chief financial officers and more than 9 per cent expect to be in the general manager’s position.

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