End of an Era: The Accounting PY Program to Close in 2026 – What It Means for Future Graduates

In a significant update for international accounting students, CPA Australia, Chartered Accountants Australia and New Zealand, and the Institute of Public Accountants have announced the decision to close the Accounting Professional Year Program (Accounting PY Program). This move comes after a noticeable drop in participant numbers, which made the program increasingly unsustainable.

Starting 31 March 2025, new enrolments will no longer be accepted, and the program will officially wrap up by 1 May 2026. While the decision was tough, it follows years of declining participation, driven by limited support for program updates and ongoing uncertainty in government immigration policies.

The Accounting PY Program has long been a vital pathway for overseas students with an Australian accounting degree, offering a 44-week training opportunity that includes both classroom learning and a 12-week internship with an approved employer. It also provided a chance to earn five points towards permanent residency under Australia's skilled migration program.

Despite the closure, those who complete the program will still be eligible for the five points towards residency, though keep in mind that the government is currently reviewing the points system, so this could change.

For more information on eligibility and future points allocation, students are advised to reach out directly to the Department of Home Affairs.