Changes to Accountants Skills Assessment Criteria from 1 July 2015

**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.