How Will You Train Your New Hires in Accounting?

The reasons why the profession is struggling with talent are well known.  Take your pick from: 

• Low starting salaries 

• Poor work cultures especially overwork in the Big 4 and tax firms 

• High cost of education 

• Perception that accounting is boring (surely not…) 
  
  

The professional bodies are trying, not always successfully, to address this.  We really like the CAANZ latest moves which would see: 

• A pathway for school leavers to learn while they work.  Complete some ‘Fundamental’ papers, then go on to college / university level ‘Foundation’ courses specific to the profession (audit, tax, finance etc) before finishing off with the professional qualification process (a diploma).  This enables school leavers to become a Chartered Accountant (CPA) without having to complete a bachelor's degree. 
  
  

• A pathway for those without an accounting degree to cross credit some of their study and experience against the ‘Foundations’ before completing the diploma.  This is new in Australia / New Zealand though more common elsewhere.  This process looks particularly flexible to recognize existing experience as well as qualifications. 
  
  

You can learn more here The New CA Pathways | CA ANZ 

The profession is moving to value experience more than qualifications.  This makes sense too when we all know accounting is fundamentally a people business – understand the financial information and communicate what it’s telling you to business owners and managers.  They don’t care how you got the information together, but they do care that it’s accurate, that you can explain it to them and answer their searching questions. 

On another level the profession also wants to portray accountants as superheroes – we’re not sure about this but you can judge for yourself  The Accountants: A new generation making epic things happen
 

There are lessons here for firms and corporates.  Experience has more value.  Look for those with people facing experience who also have the technical understanding – they are in the best place to be advisors.   

Giles Pearson  |  After 18 years as a partner with a large public accounting firm, Giles founded Accountests to help those recruiting accountants make better hiring decisions

Accountests  |  Accountests deliver the world’s only online suite of annually updated and country-specific technical skills, ability and personality tests designed by and for accountants and bookkeepers.