An ongoing shortage of auditors within Australia and internationally requires a concerted approach to sustain such a vital service to business.
A reduction in Australian graduates choosing to pursue a long-term career in audit, coupled with restricted access to overseas auditing professionals, has led to the shortage.
In addition, COVID-19 travel restrictions cut off the traditional talent pool of overseas auditors looking to work in a new country, and despite border controls easing, there remains a backlog of visa applications.
Yet a career in audit provides many opportunities. Those considering a career in audit shouldn’t be deterred from these recent concerns and, instead, focus on the longer-term prospects within the discipline.
The diversity of businesses subject to audits, whether it be size or industry-based, should be viewed as a major drawcard, particularly for accounting graduates weighing the benefits of the different disciplines in the profession.
Auditors are responsible for a suite of financial interrogation services from year end audits to due diligence on acquisitions through to compliance with legislation. They provide a service which ultimately protects shareholders and validates financial information received.
Employers in the corporate advisory sector, along with policy makers recognise the importance of auditors. Recently, there has been a concerted effort to offer more training, broader skills development, remuneration and healthier work/ life balance.
If you know someone who may find a career in audit of interest, HLB Mann Judd would be happy to have a conversation with them.
This article was first published in the Summer 2022-23 issue of Financial Times.