Accounting Professional Year Program Closure
CPA Australia, Chartered Accountants Australia and New Zealand and Institute of Public Accountants informed the government of their intention to cease the Accounting Professional Year Program (Accounting PYP).
New enrolments in the program will cease from 31 March 2025 and the program will conclude all activity no later than 1 May 2026.
While the decision to cease the Accounting PYP was a difficult one, a steep decline in the number of participants has made the program unsustainable.
The sharp decline in enrolments can be partly attributed to the lack of response from the government to the requests from the joint bodies to allow changes to be made to modernise the program, as well as general uncertainty created by government immigration policy.
Individuals who complete the Accounting PYP will continue to be eligible to apply for the five points towards their application for permanent residency under the skilled migration program.
It should be noted that the government is currently reviewing the points system for skilled migration, so this is subject to change.
The Department of Home Affairs is responsible for allocating points for students who complete the APYP. Any questions on the eligibility of points moving forwards should be directed to the Department.
For more information please see the joint media statement.
ABOUT THE ACCOUNTING PROFESSIONAL YEAR PROGRAM
The Accounting Professional Year Program (Accounting PYP), is a work readiness program approved by the Department of Home Affairs (DHA). It was available to overseas students with an Australian accounting degree of at least two years study with an Australian university.
The program provides valuable professional experience in an approved Australian workplace and ensures participants complete relevant accounting tasks. The professional development and practical learning focusses on preparing for work, including culture, ethics and expectations.
The Accounting PYP consists of at least 44 weeks' training, including classroom study for 32 weeks and a 12-week internship placement. It is recognised as a pathway to permanent residency under the general skilled migration (GSM) for 485 visa holders.
Successful completion of the Accounting PYP may earn additional points under the GSM points test. Membership of one of the professional accounting bodies is not a requirement to complete Accounting PYP and is independent of any DHA approved pathway to permanent residency.
ADDITIONAL INFORMATION
Enrolment in any of the accounting bodies' professional programs is independent of an individual's participation in the Accounting PYP or any other DHA approved pathway to permanent residency
While a PY certificate and transcript do not list an expiry date, DHA Migration Regulations 1994 (Volume 3, Schedule 6D, Part 6D.6) require the Professional Year to have been a period of at least 12 months in the 48 months (four years) immediately before the time that the migration applicant is issued an invitation to apply for the visa. Furthermore, only one professional year can be used to claim five points towards migration.
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