IFRS fuels demand for overseas contractors
Trained accountants are leaving Australia and heading to Britain and other countries in increasing numbers, as they seek markets where their skills are in high demand. This explosive growth is set to continue as the rest of the world introduces the International Financial Reporting Standards, which have been in place in Australia since 2005.
Accountants with a few years’ experience with the international standards are very desirable to UK firms. Over the past 18 months demand for contract accounting professionals has outstripped supply. This is partly due to British accounting professionals who will tend to focus their search on permanent employment and also due to employers who recruit with very specific requirements in mind, leaving them with no choice other than to spread the net as wide as possible.
On a national basis 24% of contract staff currently working for Badenoch & Clark come from overseas. However when focusing on the London market the figure rises significantly to over 60%, with the majority of staff coming from Australia, New Zealand and South Africa, working on either a highly skilled migrant or working holiday visa.
Industry commentators have stated that for those charged with recruiting talented finance and accounting staff in today’s competitive labour market, can often feel their job is something like a never ending battle.
Related articles
- IFRS – adapting to the changes
- Events in 2008 – What would you like to see?
- Trends and analysis – 2008 and the challenge ahead for the accounting and finance sector
We welcome your comments on this article.
Comments are moderated and may not appear immediately.