Mentoring within the accounting profession: An Australian perspective

The accounting profession has long recognised the need for continuing and professional education for its members. While a large part of this has been focused on providing formal, professional courses for the ongoing registration of practicing accountants, an increasingly significant aspect of preparing accountants for full professional recognition is being addressed through the use of mentoring programs. Like many organisations in today's business environment accounting firms have been experiencing problems associated with the attraction, retention, motivation, satisfaction and development of their staff (Wolosky, 2005; Anonymous, 2004; Weinstein and Schuele, 2003; Viator, 1999). Traditional approaches to induction/orientation and support of graduates and new employees have fallen short of addressing these issues, and studies have shown that many accounting professionals not only leave an organisation, but also the profession (Anonymous, 2004; Kleinman, Siegel, and Eckstein, 2001). In an attempt to stem the flow of people from the profession, accounting professional bodies world wide have returned to the use of formal and informal mentoring programs.This paper examines, with reference to CPA Australia, the reasons behind the shift to more formal mentoring programs, what the professional body hopes to achieve through this process, and how mentoring differs from the previous work experience arrangements used in accounting firms.