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About the Accounting Industry In New Zealand
Accounting is a quickly evolving sector in New Zealand, and these changes are mostly due to the growth of automated accounting technology and software. This means that people within the industry have the opportunity to gain more skills in areas that have greater demand, and are more sought-after in advisory roles.
Strong communication skills, technological capabilities, and being good with people are characteristics that employers are now looking for in their accounting staff. Accounting is no longer about sitting alone and crunching numbers: roles are becoming more dynamic and people-oriented.
Services in Accounting
Financial Statement Preparation
Tax Return Preparation
Specialty Services (includes services such as Forensic Accounting and Business Valuation).
Financial Statement and Tax Accounting currently make up the biggest proportion, approximately 65%. But this is set to change.
Accounting Industry Growth
The growth in demand for advisory services can be attributed to the rapidly changing nature of the accounting sector, which is being driven by the influence of technology in New Zealand and around the world. Technology is driving major change, primarily through the availability of cloud-based accounting systems and Blockchain. This will seriously impact the future role of accountants where the need for the traditional accountancy services such as Bookkeeping and Financial Statement Preparation will be replaced by automation.
The future role of the accountant will move to the use and application of numbers rather than their creation , which will require a broader set of competencies and require accountants to be more strategic, have greater problem-solving capability, and be adaptable and capable of influencing and consulting with clients.
Demand for Accountants
Opportunities are steadily growing in the accounting industry, even though it’s changing. In particular, financial accounting and reporting, management roles, and payroll are the fastest growing and toughest to recruit for. Employers agree that demand for payroll talent is on the rise and that this is probably the most difficult role to fill.
For Visa Applicants: Roles On the Skills Shortages List
If you are offered a job which appears on the list below and you have the qualifications and experience to match, getting a work visa will be easier. This is because the government has identified that employers need to recruit people from overseas to help meet demand for your skills.
3.2 Billion - Estimated turnover for accounting sector in 2018
65% - of people in accounting roles are in Financial Statement and Tax Accounting