The purpose is to ascertain accounting academics’ perceptions whether (a) the standard of accounting education at Australian universities has deteriorated, (b) the quality of undergraduate students has deteriorated in recent years, and if the latter (c) impacted them, their jobs, their teaching and ethical practices, and (d) is obstructing the attractiveness of accounting academia as a career. An on-line survey was sent to accounting academics at 39 Australian universities to investigate participants’ perceptions about the deterioration in the standard of accounting education and the quality of undergraduate students and the impact on respondents’ well-being, ethical practices and their job satisfaction. The majority of respondents believe the standard of accounting education and the quality of undergraduate students have deteriorated. Many academics have experienced increased frustration, disillusionment, and struggle with workload. Respondents experience institutional pressures to achieve higher pass rates, deal with sub-par core skills, treat students as clients and increase student retention. As a result, a significant number of academics, have inflated grades or deflated coursework in order to ameliorate these pressures. Nonetheless, despite these challenges, the majority is not actively seeking to change jobs or leave academia, but agree that it is not a good time for others to aspire an academic career in accounting.