Date issued: 19 January 2009
Australia's employers should not ignore the significant benefits that multi- and bilingual accountants can bring to the business and finance sectors now and increasingly in the future, CPA Australia CEO Geoff Rankin said today.
'In light of recent discussion about the English standards of accounting graduates from overseas, it's important to remember that accountants who speak English as well as other languages are giving their employers a significant advantage in international business circles,' Mr Rankin said.
'English is the predominant language of global business, we don't dispute that, but it's also true that China is Australia's number one trading partner and is the third largest economy in the world.
'The ability of Prime Minister Kevin Rudd to speak Mandarin has unquestionably been an advantage to Australia in its efforts to build relationships throughout Asia. The same principle applies to businesses that have accountants who can communicate in a number of languages.
'The increasing convergence towards global standards in accounting and auditing means multi-lingual accountants will have an advantage. In the current economic climate any competitive advantage assumes heightened importance.'
Mr Rankin said there was no question that English language skills were crucial in the workplace but he believed both the accounting profession and the Australian Government were taking steps in the right direction to ensure accounting graduates were well equipped in all facets of their occupation.
'We know the English language skills of many accounting graduates need to improve. In 2006 we funded a research report by Dr Bob Birrell that canvassed this very issue. The report identified that many technically-qualified migrant accountants don't have the English language skills to meet employer needs.
'On the strength of that report we called for an increase in the International English Language Testing System (IELTS) to level 7 competency. We were pleased to see the government's recent efforts in this area. Notably, only accountants who have good language skills or have completed a registered professional year program will be given visa priority.
'CPA Australia is also heavily involved in the professional year program — the Skilled Migration Internship Program — which is a recent Australian Government and professional bodies initiative that aims to further develop the business communication skills of international graduates seeking permanent residency.
'It will take time for these graduates to get up to speed with their English; we know that. But let's not ignore that there is a positive story here about the value that bilingual and multilingual accountants can bring to Australia. The future will bear this out.'