CA ANZ has welcomed the government’s move to cut HELP debt by 20 per cent, but said that more would need to be done to address the accountant shortage.

As accounting enrolments plummet, CA ANZ warned that more would need to be done to incentivise students to pursue the accounting profession.

Legislation to reduce student loan debt by 20 per cent represents a welcome move which could boost enrolments, the accounting body said.

“The high cost of a degree remains a major barrier to pursuing an accounting career. Without further action, Australia faces a shortfall of around 18,250 accounting, audit and finance professionals within five years,” CA ANZ CEO Ainslie van Onselen said.

CA ANZ said accounting degree enrolments had halved in the last seven years, a trend it said could be addressed by reducing the financial burden of pursuing studies in accounting.

Industry reports have indicated that organisations are struggling to fill roles. A May 2025 CFO survey found that organisations had an average of 5.2 open accounting roles, over double the 2024 average.

Almost half (49 per cent) of those roles would take over 60 days to fill, the survey found.

To boost the talent pipeline, the accounting body has called for ongoing HELP debt relief for students in courses facing critical skills shortages, reclassification of accounting degrees to a lower-fee funding cluster, and expanding support for accounting education in high schools.

“CA ANZ is pleased that this 20 per cent reduction in student loan debt is the first government legislation to be introduced to the new Parliament,” van Onselen said.

“However, we hope this is the starting point for tertiary education funding and financing reform, not the end.”

Other accounting professionals have added that combating negative industry perceptions would be another key strategy to attracting fresh talent, citing that the ‘old pale stale’ accountant stereotype made students less attracted to the career path.

Danny Chiha, senior partner at accounting firm Kelly+Partners, echoed the sentiment that industry perceptions had negative impacts on recruitment efforts.

“The perception of accountants in the market, like, it hurts [recruitment], so we need to do a job of making accounting a great career choice. People don't realise how much fun we have and how good it is until they're in it,” Chiha said.

CA ANZ said that boosting engagement among high school students would be critical in retaining robust talent pipelines. It also suggested opening fresh pathways for students to enter the profession.

“We need to support and broaden student pathways into the profession, from high school through to higher education and vocational training, if we’re serious about building a sustainable talent pipeline and improving Australia’s productivity,” van Onselen said.

“These changes would increase fairness, affordability and access to careers in accounting.”