Accounting Professional Year Program Closure: What It Means for International Students
The Accounting PY Program Has Officially Ended
The Accounting Professional Year Program Closure has now taken effect. As of 5 March 2025, no new enrolments are accepted, and the program will completely cease operations by 1 May 2026.
This decision, made by CPA Australia, CAANZ, and IPA, marks the end of a program that has helped thousands of international accounting graduates gain professional experience and migration points in Australia. However, due to declining enrolments and lack of government action, the program has been deemed financially unsustainable.
Why Did the Accounting Professional Year Program End?
The Accounting PY Program, which has operated since 2008, has seen a sharp decline in student enrolments—from 7,122 in 2018 to just 340 in 2024. Several key factors led to its closure:
Significant Drop in Enrolments
Student participation in the program has plummeted by 95% over the last few years. A growing sense of uncertainty around skilled migration policies discouraged international graduates from enrolling, making it difficult for providers to sustain operations.
Lack of Government Support
For years, the accounting bodies proposed much-needed reforms to make the program more attractive, including shorter durations and flexible delivery. Despite submitting eight key recommendations, they received delayed responses from the government, which failed to take meaningful action.
Skilled Migration Policy Changes
The ongoing review of the General Skilled Migration (GSM) points test has left international students in limbo, as they wait for clarity on future visa pathways. Additionally, the government’s proposed cap on international student numbers has added further instability to the profession, making it harder for graduates to plan their future in Australia.
Impact on the Accounting Industry and Migration
The closure of the Accounting Professional Year Program is a major shift for both international students and the Australian accounting industry.
The program previously helped thousands of graduates transition into the workforce by providing structured training and real-world experience. With its removal, a key pathway for skilled migration in accounting has been eliminated, making it more challenging for international graduates to secure professional opportunities in Australia.
This change comes at a time when the accounting profession is already experiencing a skills shortage. According to research by Victoria University for Jobs and Skills Australia, the demand for accountants in Australia is projected to increase from 201,600 in May 2024 to 234,000 by May 2034. That means an additional 32,400 accountants will be needed within the next decade. However, with fewer international students entering the workforce through structured programs like the PY, this shortage could become even more severe.
What’s Next for International Accounting Graduates?
Without the Accounting PY Program, international students will need to explore alternative pathways to gain professional experience and stay in Australia. The accounting bodies have urged the government to engage with the profession and address the growing skills shortage.
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