The Accounting Professional Year Program (APYP), a work readiness initiative for international accounting graduates in Australia, is set to be discontinued.
Chartered Accountants Australia and New Zealand (CA ANZ), CPA Australia, and the Institute of Public Accountants have announced their decision following a drop in enrolments and insufficient government action to modernise the programme.
Enrolments are said to have plummeted from 7,122 in 2018 to a 340 in 2024.
The programme, approved by the Department of Home Affairs, was designed to provide professional experience to international students with an Australian accounting degree.
Its decline is noted to be partly due to the government’s inaction on proposed changes to update the programme and the uncertainty surrounding immigration policies.
In December 2023, the accounting bodies submitted eight recommendations to the Department of Home Affairs, including more flexible delivery and alternative modes for the formal learning and work experience components.
Despite warnings issued to the government in November 2024 regarding the urgency of updating the programme, the accounting bodies’ attempts to engage with officials led to a disappointing response.
The Department of Home Affairs acknowledged the recommendations on 17 February 2025 but deferred any decision on the programme until after a review of the migration points test, with no date specified.
With no forthcoming action, the accounting bodies have resolved to discontinue the APYP.
New enrolments will cease from 5 March 2025, and the programme will conclude by 1 May 2026.
The joint statement noted that: “We continue to explore new initiatives to address the shortfall of new entrants into the profession, such as directly promoting accounting to university and TAFE students, teachers, parents, and the business community.
“We are also active in creating new, innovative pathways into the profession at the entry level, as well as for more experienced professionals from relevant sectors.”
The bodies are urging the government to engage with the profession to mitigate the negative impact on Australian businesses and the economy.
They also call for a reconsideration of the cap on international students, which adds to the profession’s uncertainty.
This announcement follows a recent call by CA ANZ for an urgent review of proposed tax legislation on superannuation assets exceeding A$3m in Australia.
