It is widely known that there is currently a huge shortage of experienced External Auditors across New Zealand
Firms in NZ have always traditionally relied on overseas relocators to fill the shortage of skilled Auditors. The arrival of COVID-19 and border closures have made it impossible for firms to continue with this practice. This is due to candidates from overseas not being able to migrate. Although the borders are loosening, the NZ auditor shortage is still seen as an ongoing issue for the foreseeable future.
According to CAANZ, in mid-2021, there were over 200 audit vacancies unfilled in New Zealand. Not surprisingly, this number has continued to rise ever since. This has been a massive challenge to firms. They have struggled to attract and retain sufficient Audit talent and keep up with the overwhelming work demand.
Existing Audit teams are also under a lot of pressure and strain as they are understaffed. However, they still need to complete all of their audits. This has resulted in Auditors working even longer hours. Which has led to more burnout and more talent leaving the industry.
Extended reporting timeframe to relieve the NZ Auditor Shortage
In July 2021 the Auditor General supported legislation to extend statutory reporting time frames. They were extended by two months for Crown entities, local authorities and council-controlled organisations.
Audit firms, CAANZ and the NZ Government have all been taking steps to improve the situation. They have done this by helping to supply and secure enough Auditors to meet demand. Immigration NZ has now opened up Border Exemptions for 180 external Auditors.
With demand being so high, there are many incredible opportunities out there. The market right now is very buoyant for External Auditors. So much so that they are being considered for roles that they wouldn’t usually be. Once the borders open, we will forecast that many qualified foreign auditors will plug part of the skill shortage. We estimate this will be in the next 12 months. For domestically based Auditors, there is a window of opportunity to secure that sought after role and obtain that external promotion they have been looking for.
So how do you navigate your way through all of the seemingly endless possibilities and find the perfect match for you? For some, this is overwhelming. That’s where we can help! Tyler Wren has New Zealand’s largest Specialist CA Team & we work alongside the best firms in the country from Big Four to Mid Tier and boutiques.
If you are currently in NZ:
There is no better time to consider a new role than right now as the amount of opportunities available on the market has never been greater. The roles that are currently available are offering higher salaries and more benefits due to the high demand and are currently only available to people within NZ. Once the borders open, there will be more candidates on the market and you may not be able to secure, what you can get today. If you are interested to find out about what is currently available for you then get in touch today.
Or if you are currently in Australia:
From 11:59pm on the 27th of February fully vaccinated people will be able to enter NZ from anywhere in the world and self isolate without the need to secure MIQ spots.
If you are a Kiwi Returner or a Skilled Worker:
From 11:59pm on the 13th of March fully vaccinated citizens and residents of New Zealand and Skilled Workers will be able to enter NZ from anywhere in the world without the need to secure MIQ spots.
Or if you are an Overseas Relocator:
From 11:59pm on the 12th of April fully vaccinated people that hold a valid temporary visa that is still valid will be able to enter NZ from anywhere in the world without the need to secure MIQ spots.
If you are planning to arrive in NZ after these dates, then feel free to reach out. Let us know your plans, and when you are arriving so, we can help you to remove all of the stress of job searching. And we can discuss the best available opportunities and help you secure the perfect role before you even get to NZ!
For any immigration advice, it is important for you to speak to Immigration NZ directly or an Immigration Advisor. We do know some contacts in the industry so we can point you in the right direction.
Tyler Wren provides professional career advice. We offer market insight as well as an array of opportunities that suit your long term and short term goals. We recruit across New Zealand in External Audit, Business Advisory Services, Tax, Corporate Finance, Insolvency and Risk Advisory.
Feel free to get in touch to find out more about opportunities that are currently on offer.