Changes to Migration Assessments – Accountants and External Auditors
Changes to the assessment criteria will be implemented with effect from Wednesday 1 July 2015. The total number of core knowledge areas will be consolidated to nine (9) from the current twelve (12).
| Pre-July core knowledge areas | Post-July competency areas |
| Accounting Systems and Processes | Accounting Systems and Processes |
| Financial Accounting | Financial Accounting and Reporting * including both Financial Accounting & Accounting Theory |
| Accounting Theory | |
| Management Accounting | Management Accounting |
| Finance | Finance |
| Audit and Assurance | Audit and Assurance |
| Commercial Law | Business Law * including both Commercial Law and Corporations Law |
| Corporations Law | |
| Taxation Law | Taxation Law |
| Accounting Information Systems | Removed – no longer required |
| Economics | Economics |
| Quantitative Methods | Quantitative Methods |
Candidates must meet at least seven (7) core knowledge areas, with the exception of External Auditors and Taxation Accountants, who must meet at least eight (8) as outlined in the table below.
| Core Knowledge Areas
|
ACCOUNTANT GENERAL 221111
|
TAXATION ACCOUNTANT 221113
|
MANAGEMENT ACCOUNTANT 221112
|
EXTERNAL AUDITOR 221213 |
FINANCE MANAGER132211
|
CORPORATE TREASURER 221212
|
| Accounting Systems and Processes | compulsory | compulsory | compulsory | compulsory | compulsory | compulsory |
| Financial Accounting & Reporting | compulsory | compulsory | compulsory | compulsory | compulsory | compulsory |
| Management Accounting | compulsory | compulsory | compulsory | compulsory | compulsory | compulsory |
| Finance | compulsory | compulsory | compulsory | compulsory | compulsory | compulsory |
| Audit & Assurance | optional | optional | optional | compulsory | optional | optional |
| Business Law | compulsory | compulsory | compulsory | compulsory | compulsory | compulsory |
| Taxation Law | optional | compulsory*Australian Taxation Law | optional | optional | optional | optional |
| Economics | compulsory | compulsory | compulsory | compulsory | compulsory | compulsory |
| Quantitative Methods | compulsory | compulsory | compulsory | compulsory | compulsory | compulsory |
The Degree and English language requirements will remain unchanged.
All applications received on or after Wednesday 1 July 2015 will be completed under the new criteria.
If you have already received a positive assessment outcome from Chartered Accountants Australia and New Zealand, your assessment remains valid and these changes will not affect you.
If you have received an assessment outcome from Chartered Accountants Australia and New Zealand and have been advised to complete further studies to meet the core knowledge criteria, you will need to consider the new competency areas when choosing your study plan.
Source: Chartered Accountants Australia and New Zealand
Please contact us for further information and consultant Tel: (613) 9654 3409
