Professional accounting news

• Very high demand for accounting

graduates
– Chartered Accountants Journal March 2006,
p. 24
• Average salary for 4,229 chartered
accountants in 2009: $137,740
– The NZICA/Randstat 2009 salary survey

1
Professional Accounting Qualifications
at the University of Auckland

• Chartered Accountant – New Zealand

Institute of Chartered Accountants
• CPA (Certified Practising Accountant) –
CPA Australia

2
Importance of professional
qualifications

• Recognition by employers and clients

• Some work reserved by law (e.g. audit
of a company in NZ must be signed off
by a CA)

3
CA qualification:
• Four-year academic requirements
• One year general experience (before or
after qualifying
• Two years work experience in Approved
Organization
• Professional Competency Examinations
(With workshops)

4
How to meet the 4-year academic
requirements

• B Com & Grad Dip Com

• Honours or Masters
• BBIM & Grad Dip Com
• Other, e.g. 1 year of Certificate of
Proficiency courses – so long as you
get degree & 4 years equivalent
study
5
Percentage requirements
• The four years of study is to include:
– 2 Liberal Studies, covered by General
papers
• Exempt from the percentages
requirement if you do Honours or
Masters in Commerce

6
Required courses
– Compulsory coverage of accounting and
business subjects
– Details:
• Notes on the Academic Requirements for
Chartered Accountants from Business Students
Centre (Level 1, OGGB)
• Department web page
http://www.business.auckland.ac.nz/Schoolhome
/AccountingFinance/Professionalbodies/NZICA/tab
id/730/Default.aspx
• Institute booklet
http://www.nzica.com/AM/Template.cfm?Sectio
n=Chartered_Accountant&Template=/CM/Con
tentDisplay.cfm&ContentID=14584 7
ACA qualification (new)

• Requires three year degree

• Two years experience
• Professional competency exams
• Mid-tier qualification
– NZICA say: “Associate Chartered Accountants are
well positioned within the profession to work for
Chartered Accountants in public practice, as financial
and business analysts and advisors, and in middle
management roles.”

8
CPA qualification
• Requirements
– Accredited degree (B Com or BBIM) with
required subjects
• http://www.cpacareers.com.au/study_options/acc
_course_details.asp?CourseId=1202
– Three years experience with a mentor
– CPA Programme – 6 exams studied by
distance learning after completion of degree
(minimum of 2 years).

9
CA or CPA? (or ACA?)

• CA is recognized by NZ employers and

in NZ law; has high prestige in
Commonwealth countries
• CPA can be done anywhere in the
world
• ACA is designed for middle level
accountants and managers

10