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Complex Changes Announced in Australian Migration Skill Assessment Requirements w.e.f. 1st July, 2015

Posted - 26, Oct 2015

The accounting authorities, i.e. Accounting Professional Bodies have announced a few changes in the skill assessment requirements. These changes will be effective from July 1st, 2015. It is being said that the changes have been made to make the educational requirements for skills assessment more difficult.

AS per the changes, the core accounting areas will be reduced to 9 from 12. The majority of applicants would require to meet 7 of these and some occupation will require applicants to meet even 8 out of 9 core accounting areas. Please find below the detailed description of the changes:

Occupation Affected Due to the Changes

The announced changes will affect almost all the occupations assessed by accounting professional bodies, i.e.

  • Finance Manager ANZSCO 132211
  • Accountant (General) ANZSCO 221111
  • Management Accountant ANZSCO 221112
  • Taxation Accountant ANZSCO 221113
  • Corporate Treasurer ANZSCO 221212
  • External Auditor ANZSCO 221213
  • Assessing AuthorityAffected
The majority of the accounting professional bodies will change their criteria from 1 July, including:
  • CPA Australia
  • Chartered Accountants Australia and New Zealand
  • Institute of Public Accountants
  • The Assessment Parameters
For most applicants applying for a permanent skills assessment, the following must be met:
  • Core Accounting Knowledge Areas: One must have covered certain essential subjects in the qualification. The changes from 1st July are with regards to which subjects are required.
  • Qualification: A qualification equivalent to an Australian bachelor degree. There is no change to this requirement.
  • English Language: An applicant must undertake an English test. The requirements are similar to Proficient English. There is no change to this requirement. Necessary Subjects – All Occupations
The range of compulsory subjects for assessment has increased from 4 to 7 for most occupations. This gives applicants less choice in how they make up the required subject areas. The compulsory subjects from 1 July will be:
  • Accounting Systems and Processes: No Change–
  • Financial Accounting and Reporting: now made up of Financial Accounting (an advanced subject, covering accounting for corporate groups and reporting) and Accounting Theory (another advanced subject covering accounting standards and new developments in accounting). Previously, Accounting Theory was compulsory only for the Accountant (General) and Management Accountant occupations.
  • Management Accounting: No Change -
  • Finance: Previously optional for most applicants, except for Finance Managers and Corporate Treasurers
  • Quantitative Methods: previously the same was optional for all applicants
  • Economics: previously it was optional for all applicants
  • Business Law: Earlier was optional for all applicants. This will now contain both Commercial Law (covering contracts and typically employment law) as well as Corporations Law (general a fairly detailed subject covering laws applying to companies). Essential Subjects – External Auditors and Tax Accountants
Apart from the above core areas, External Auditors will require to complete Audit & Assurance, and Tax Accountants will require to complete Australian Taxation Laws.

Now, it means that for above occupations, 8 core areas will need to be covered, rather than 7 as required for other occupations.

You may get in touch with our Immigration Expert at Visas Avenue for further clarification on above points or the immigration process in general. Alternatively, you can fill the free assessment form, so that our representative can contact you with all essential details regarding the whole visa procedure and assessment test.

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