Professional Accounting Body Affiliation: Shifting Priorities in the Transition from Student to Practitioner

Abstract

Extending the scope of prior research, this study examines perceptions of the costs and benefits of professional accounting body affiliation in the transition from student to practitioner. The study employs data obtained from 275 students and 508 practitioners and reports differences in respect of the importance placed on various costs and benefits associated with affiliation. Findings show it is important to avoid a ‘one-size-fits-all’ approach to attracting and retaining members and that the needs and aspirations of tomorrow's accountants are different from those of experienced professional accountants. Implications for brand development and member recruitment and retention strategies are discussed.

Key Words:

• Professional accounting bodies
• professional affiliation
• career choice, recruitment
• retention

Acknowledgements

The authors would like to thank the participants of the 2012 RMIT Accounting Educators Conference as well as participants of the 2013 AFAANZ and BAFA Education SIG meetings. Our gratitude is also extended to the referees who commented on earlier versions of our paper and Professor Brendan O'Connell as Guest Editor for this special issue.

Notes

1 Not all professional bodies have ‘student memberships’; however CPA Australia and the ICAA offer this category of membership and have significant student numbers (see Inglis et al., 2011). Such membership affiliation provides students free and early exposure to one or more of these professional accounting bodies. In addition this is arguably a membership growth strategy as individuals may continue as full members of one or more of these bodies.

2 In this paper the phrase, ‘near-accounting graduate’ is used to describe students who are studying an accounting major and have completed more than 60% of their course.

3 ‘Generation Y’ typically refers to the generation born between circa 1980 and the mid-1990s. Previous generations include ‘Generation X’ (mid-1960s to circa 1980) and ‘Baby Boomers’ (mid-1940s to mid-1960s).

4 Other professional bodies were listed in Inglis et al’s (2011) study; however these had small member numbers and as such are not reported here.

5 The results from phase one of the study are also reported and discussed in Inglis et al. (2011).

6 The respondents included members of all Australia's main accounting bodies: CPA Australia, the Institute of Chartered Accountants Australia, and the Institute of Public Accountants Australia.

7 Many students have student membership of one of these bodies.

8 Independent t-tests were also conducted on student and all practitioner data and the significant differences identified were identical to those reported in Table 2.

9 The peak professional accounting bodies in Australia are CPA, ICAA and IPA.