An accountant plays a crucial role in shaping and managing the economic landscape of companies, organizations, and even individuals.
The Remuneration of an Accountant in New Zealand
Remuneration for accountants in New Zealand is a reflection of their qualifications, experience, and the nature of their employment. As per the ‘2022 Member Remuneration Survey: New Zealand’ by Chartered Accountants Australia New Zealand (CAANZ), the average annual earnings for accountants span various experience levels:
- Up to 4 years experience: $70,000
- 5 to 10 years experience: $105,000
- 11 to 15 years experience: $137,000
- 16 to 20 years experience: $153,000
- Over 20 years experience: $165,000
Roles and Responsibilities of an Accountant
Accountants undertake a myriad of responsibilities, showcasing their adaptability and expertise:
- Financial Statements: Preparation of financial statements and reports for clients or company management.
- Budgetary Oversight: Developing, forecasting, and verifying budgets.
- Tax and Returns: Preparing GST, PAYE, and other returns, ensuring compliance.
- Financial Advisory: Advising on financial aspects like budgets, tax, and cashflows.
- Performance Analysis: Reviewing accounting procedures and analyzing the financial performance of businesses.
- Strategic Planning: Assisting management with strategic planning and human resources.
Qualifications and Entry Routes
Becoming an accountant requires a strong educational foundation, typically involving an accounting degree or a business/commerce degree majoring in accounting. Membership in professional organizations like CAANZ or CPA Australia is common. For those pursuing the role of an accounting technician, completion of tertiary study and relevant accounting experience is essential.
Working Conditions
Accountants typically work regular hours but may extend their work into weekends or evenings to meet deadlines. The work environment spans offices and, in some cases, remote work. Travel may be necessary for client visits.
Job Prospects
The demand for accountants remains robust, driven by factors such as:
- Analytical Expertise: Increasing need for analysts who interpret financial data for informed decision-making.
- Industry Growth: Expansion in industries like banking, construction, and retirement, necessitating financial expertise.
- Regulatory Compliance: Stringent regulations for financial reporting in companies.
Accountant features on Immigration New Zealand’s regional skill shortage list, indicate active encouragement for skilled accountants from overseas to contribute to New Zealand’s workforce.
Opportunities for an Accountant
Accountants often find employment in various sectors, including:
- Accounting businesses
- Legal firms
- Financial asset investors,
- Private companies
- Government departments
- Retirement villages
- Construction businesses.
Opportunities for students and graduates
Many accounting firms offer summer internships and graduate programs that may lead to full-time employment.
Specializations
As accountants advance in their careers, they may explore senior management roles such as finance manager, auditor, or financial adviser. Specializations within accountancy include:
- Financial Accountant: Managing an organization’s finances, preparing financial statements, and reporting on various financial aspects.
- Management Accountant: Identifying financial information needs, offering advice on financial planning and risks, and generating reports for managerial decision-making.
- Systems Accountant: Reviewing and enhancing business IT systems in collaboration with IT teams.
- Taxation Accountant: Reporting and advising on taxation issues, preparing tax returns, and handling disputes with taxation authorities.
How to Apply
NOTE: If you do not have a work visa permit for New Zealand, start here and check the New Zealand Visa Application Process for more information
