**IMPORTANT ALERT: NEW IMMIGRATION REQUIREMENTS FOR ACCOUNTANTS**
From 1 July 2015, new changes will be introduced by skills assessment authorities CPA Australia/CA which may affect you if your nominated occupation is in the accounting area.
Please note, we have a confirmation from CPA Australia that the new changes also apply to those who has passed the provisional skill assessment for their 485 graduate visa.
Following is the news published on the CPA website:
(http://www.cpaaustralia.com.au/become-a-cpa/migration-assessment)
The changes to the assessment criteria will be implemented with effect from Wednesday 1 July. The total number of core knowledge areas will be consolidated to nine (9) from the current twelve (12):
| Pre-July core knowledge | Post-July competency areas |
| Accounting Systems and Processes | Accounting Systems and Processes |
| Financial Accounting | Financial Accounting and Reporting |
| Accounting Theory | |
| Management Accounting | Management Accounting |
| Finance | Finance and Financial Management |
| Commercial Law | Business Law |
| Corporations Law | |
| Economics | Economics |
| Quantitative Methods | Quantitative Methods |
| Accounting Information Systems | Removed – no longer required |
| Auditing | Audit and Assurance |
| Taxation Law or Australian Taxation Law | Taxation or Australian Taxation Law |
The Degree and English language requirements will remain unchanged.
All assessments, reviews and updates completed on or after Wednesday 1 July will be completed according to the restructured competency areas.
Competency area requirements per occupation
You will need to meet at least seven (7) competency areas for all occupations, with the exception of External Auditors and Taxation Accountants, who will need to meet at least eight (8) as indicated below.
Accountant (General) ANZSCO code 221111, Corporate Treasurer ANZSCO code 221212, Finance Manager ANZSCO code 221212, Management Accountant ANZSCO code 221112
| Mandatory | Optional |
| Accounting Systems and Processes | Audit and Assurance |
| Financial Accounting and Reporting | Taxation Law |
| Management Accounting | |
| Finance and Financial Management | |
| Business Law | |
| Economics | |
| Quantitative Methods |
External auditor 221213
| Mandatory | Optional |
| Accounting Systems and Processes | Taxation Law |
| Financial Accounting and Reporting | |
| Management Accounting | |
| Finance and Financial Management | |
| Business Law | |
| Economics | |
| Quantitative Methods | |
| Audit and Assurance |
Taxation accountant 221113
| Mandatory | Optional |
| Accounting Systems and Processes | Audit and Assurance |
| Financial Accounting and Reporting | |
| Management Accounting | |
| Finance and Financial Management | |
| Business Law | |
| Economics | |
| Quantitative Methods | |
| Australian Taxation Law |
What does this mean for me?
If you have submitted your application already or plan to submit your application for assessment in June, and we have received all the documents required for your assessment, we will endeavor to complete your assessment before Wednesday 1 July 2015. Please consider the current processing times when submitting your documents.
If you have already received a positive assessment outcome from CPA Australia, your assessment remains valid and the changes will not affect you.
If you have received an assessment outcome from CPA Australia 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.