Australia 'facing accountant shortage'

The business community in Australia could face difficult times ahead if the country's number of accountancy graduates does not increase, it has been claimed.

Naomi Stuart, a specialist academic at Charles Sturt University, said that level of accountancy graduates produced by Australian universities has "stabilised" in recent years, with many firms now struggling to fill their accountancy positions, the Australian reports.

Citing figures from the Institute of Chartered Accountants Australia, Ms Stuart revealed that there are now four job vacancies for every qualified accountant in the country.

Suggesting that low salaries and the industry's "poor image" could be to blame for the current shortage of accountancy talent, she claimed that a campaign promoting the attractive elements of the profession could benefit businesses.

Ms Stuart explained: "I was in public practice for eight years and I know it's not all about number-crunching.

"It's a lot more about business relations and helping to grow people's businesses."

MYOB, the largest provider of accountancy software in Australia, recently predicted a growth in earnings of 20 per cent for this calendar year, as well as continued expansion in 2008.