9 October 2007 
 
An Institute of Chartered Accountants in Australia survey shows 43 per cent in young accountants intend to travel overseas in the next two years. The results show that those surveyed from Victoria want to travel overseas more than any other state, while those in South Australia are less likely to travel. 
 
Across Australia, of the 43 per cent that intend to go overseas, half are male and just less than half are younger than 25 years old. The national results compare to the 2006 survey, with the same amount of young accountants intending to work overseas as this year.  
 
The independent* national survey polled 680 accountants of predominantly 21-30 age range. All the respondents were taken from the 12,400 that are presently studying the Chartered Accountants Program, the post-graduate diploma accountants take to become Chartered Accountants.  
 
Breakdown of young accountants that intend to work overseas by state: 
> Victoria - 51% 
> Western Australia - 44% 
> New South Wales - 42% 
> Queensland - 42% 
> South Australia - 25% 
 
The most popular destination at 66 per cent remained with the UK according to the national results, the same as the 2006 survey. However the second most popular destination was found to be Asia, pushing last year’s second choice, USA, to third place. 
 
‘It is well documented that China is presently looking for 100,000 Chartered Accountants and with the Olympics next year, Asia has overtaken America in its appeal to young accountants. However the lure of Europe and the international experience the UK can provide, continues to be the strongest influencer when young accountants are considering an overseas stint,’ said Sheena Frenkel, General Manager, Chartered Accountants Program and Admissions, Institute of Chartered Accountants in Australia. 
 
The survey also found that 56 per cent of respondents aspire to be a manager in five years and 11 per cent aim to become a Financial Controller as the next favoured position. This compares to last year’s results with slightly less aspiring to be a manager at 47 per cent and slightly more aspiring to be a Financial Controller in the next five years at 15 per cent.  
 
‘The rigour of the Chartered Accountants Program with five modules of formal study combined with three years of mentored work experience means that Chartered Accountants are well positioned to meet their career aspirations. In addition, Chartered Accountants have the opportunity to ensure their qualification is recognised and receive support when they travel overseas, with our membership of the Global Accounting Alliance,’ commented Frenkel. 
 
The Institute is a founding body of the Global Accounting Alliance which represents accounting organisations in the major capital markets around the world. 
 
‘Of our 46,000 Chartered Accountants, 14 per cent are presently living overseas, spanning 87 countries from Canada to Kazakhstan,’ concluded Frenkel.