ASIC chairman Joe Longo and Labor senator Deborah O’Neill have different takes on why auditing is struggling to attract graduates.
Auditing firms are struggling to attract people into the profession because the role is demanding and the work unpleasant, the head of the corporate regulator says.
A survey of accounting firms by professional body Chartered Accountants ANZ, published in January, highlighted the widespread shortages of auditors, accounts and tax accountants across the sector.Firms also complained to CA ANZ that although they received a high number of applications for vacant roles, “only a small number of applicants had the qualifications, skills and experience required to do the job”.
“It’s a very demanding role. It’s heavily regulated. It’s high risk. So I think that’s an issue that I know that big firms are thinking about; how they’re going to address moving people around the network, giving them exposure, making it a more attractive role.”Senator O’Neill responded: “Or they could pay their junior staff a bit better, Mr Longo.”
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