NCEA Reform Must Strengthen Accounting Curriculum Says CA ANZ

Chartered Accountants Australia and New Zealand welcomes the Government’s proposal to revamp New Zealand’s secondary school education system, saying the Education Review Office’s report makes clear that a more robust curriculum and more structure and clarity are required.

“The reform proposals must include strengthening the accounting curriculum to nurture the next generation of Kiwi business leaders,” says CA ANZ NZ Country Head Peter Vial FCA.

“Infometrics forecasts a shortage of 15,000 accountants in New Zealand in the next five years. Reinstating accounting as a standalone year 11 subject will greatly strengthen the pipeline of talent into a profession with huge career and earning opportunities, that is vital to New Zealand’s success,”

“A professional accounting qualification can open the door to exceptional careers - whether that’s in business, events, the public sector, the music industry or sports management. We need savvy leaders, who know their numbers, to drive New Zealand’s future.

"As well as diverse career opportunities, chartered accountants have a median salary of $144,200, more than twice the New Zealand median, which is a big drawcard.

“The curriculum taught in schools directly influences the career choices students make. Allowing students to explore accounting concepts and build their confidence with this material means that students will be more likely to consider accounting as a career.

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“We’ve seen what happens when we let talent shortages in crucial professions get out of control, whether it’s in health, education, or accounting. Under-investing in essential education can have serious consequences, but we can prevent this in finance and business.”

CA ANZ has advocated for curriculum reform, warning that merging accounting with business studies and economics into a single NCEA Level 1 Commerce subject has diluted students’ exposure to core accounting concepts.

“Despite the subject having only been taught for one year, teachers, parents, educators and CA ANZ raised concerns that NCEA Level 1 Commerce is too broad and that the flexibility and variability in the assessments mean not all students are being exposed to fundamental accounting concepts, that would set them up for further accounting education,” continued Mr Vial.

“Ensuring that the new Year 11 curriculum also includes accounting as a standalone subject will be important.

“Although there has been a healthy increase in accounting enrolments in 2024, enrolments in accounting & finance bachelors degrees have fallen overall by around 40% since 2018, and we have seen the impacts, including the critical shortage of auditors during COVID that meant many local government audits were delayed in 2022 and 2023.

“Of course, there is no silver bullet to solving talent challenges. A strong secondary school curriculum will be very helpful, and CA ANZ is committed to working with the profession to address the shortage of accountants through our ‘Make Epic Things Happen’ campaign and deep engagement with educators, universities and students on campus,” concluded Mr Vial.

Note: Infometrics data can be found here.

About Chartered Accountants Australia and New Zealand

Chartered Accountants Australia and New Zealand represents more than 140,000 financial professionals, supporting them to make a difference to the businesses, organisations and communities in which they work and live. Chartered Accountants are known as Difference Makers. The depth and breadth of their expertise helps them to see the big picture and chart the best course of action.

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