Bankers in the Middle East may have been hit by reduced remuneration again this year, but ACA-qualified accountants have benefited from the financial crisis and are now the highest paid in the world.

Figures from the Institute of Chartered Accountants in England and Wales (ICEAW) suggest that the Middle East offers the highest average salaries globally – 128.6k ($201.5k, AED740.1k) – although this does include allowances such as schooling and housing.

These figures should, however, be taken with a pinch of salt. The ICEAW cautions that they’re influenced by a small number of high-earning senior ACAs. Moreover, the number of members in the Middle East remains relatively small – around 650 in the GCC, 420 of which are in the UAE.

But, employment prospects for accountants have been much improved as a result of the financial crisis.

As Amanda Lines, the ICAEW’s Middle East regional director, told us previously a need to improve corporate governance in the region and the increasing number of insolvencies has created opportunities for accountants.

“We’re seeing a big demand for chartered accountants in the Middle East still, particularly within treasury and financial control,” adds James Sayer, senior manager – Middle East at recruiters Robert Half. “The focus of a number of companies post-crisis has been on cutting costs, which worked in favour of accountants in the region.”

Generally, though, salaries for accountants in the Middle East fall short of the lofty average suggested by the ICEAW.

New figures from Robert Half’s 2011 salary survey show that an internal auditor working for a large company with 3-5 years’ experience earns $50-60k, rising to $68-100k at the senior end.

Management accountants, meanwhile, should expect $66-90k after 3-5 years, which increases to $68-100k among the senior ranks. Treasury accountants enjoy the highest salaries in the region, taking home $120-200k after 10 years.

CFOs working in the Middle East can expect to earn $250-400k with more than 15 years’ experience under their belt, suggests Robert Half.