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Financial Accountant - Job outlook

Kaiwhakahaere Pūtea

What are the chances of getting a job?

Qualified financial accountants have good chances of finding work in New Zealand as most companies need an accountant to prepare financial statements for their businesses. However, the current economic climate means job opportunities in 2009 and 2010 are beginning to alter. More businesses are attempting to minimise costs by hiring fewer people and this is creating more competition for fewer job vacancies.

Skills shortages have enhanced job opportunities in recent times for financial accountants

Many accountants with the desired four to eight years experience have been estimated to be overseas in the last ten years, causing a shortage of people with this level of expertise in New Zealand. As a result of this, the Department of Labour listed the role of financial accountant on the long-term skills shortage list.

Recession beginning to affect employment opportunities worldwide

With unemployment figures rising in the UK and US due to the current economic crisis, a number of financial accountants who live abroad are beginning to return to New Zealand as employment opportunities dry up overseas. This could mean there will be more competition for accountancy job vacancies in New Zealand in the future, particularly for the duration of the recession.

Financial accountants with an NZICA qualification have the best chances of finding work

Financial accountants with a New Zealand Institute of Chartered Accountants (NZICA) qualification have the best chances of finding work as this qualification is internationally recognised and respected.

"The thing about accounting is it doesn’t matter how big or small the organisation is, you need an accountant. So you know, it is a pretty good thing to do."

Sean Fitzgerald - Chartered Accountant

What types of employers can I work for?

Most businesses employ a financial accountant who can assist with the planning and direction of their company. The main types of businesses employing financial accountants are:

Main businesses employing financial accountants (2006)
Type of employer	Percentage of financial accountants
Legal and accounting services	42%
Marketing and business management services	7%
Government administration	5%
Other business services	3%
Financial asset investors	2%
Source: Department of Labour Jobs and Tertiary Education Indicator Tool

The four main accounting firms in New Zealand are:

Deloitte
Ernst & Young
KPMG
PriceWaterhouseCoopers

Where can I do this job?

Financial accountants can work anywhere in New Zealand.

The 2006 Census found there were 24,792 accountants working in New Zealand. The highest proportion of these accountants were employed in the Auckland, Wellington and Canterbury regions.