Australian accountants 'in exodus'

Australia's accountancy sector is currently facing an exodus of staff, it has been claimed.

According to reports by The Age, research conducted by the Institute of Chartered Accountants in Australia (ICAA) has found that 43 per cent of the country's "young accountants" plan to travel abroad over the next 24 months.

The survey found that a majority of respondents - 66 per cent - are planning on travelling to the UK.

Findings were based upon the questioning of 680 accountants, most of whom were between the ages of 21 and 30.

"It is well documented that China is presently looking for 100,000 chartered accountants," said Sheena Frenkel, a representative from the ICAA.

"However, the lure of Europe and the international experience the UK can provide continues to be the strongest influencer," she added.

Investigations conducted earlier in 2007 show that one accountant in Australia currently has four vacancies to choose from.

The ICAA operates in Australia under a supplementary Royal Charter, which is amended periodically.