I've considered doing honours at UNSW simply to extend my uni studies and to allow me to have a second 'penultimate' internship and have the opportunity to tutor students
It's not like you won't work towards your CA the year after anyway..
This.
IMO if he actually LIKES accounting enough to consider honours, that is a good thing (not many ppl do). Its not like he is going to finish honours and go fuck it now I won't become chartered. Its only an extra year + it opens many more opportunities in regulatory institutions for example the AASB only takes honours grads etc.
Also, why not open up the opportunity to be a lecturer?
I'd say that having honours + CA separates him amongst his peers. Builds strong research skills, statistical knowledge, demonstrates commitment to a project...shit load of stuff to put on your resume and talk about in interviews. It is also a "fourth year" at the undergrad, bringing the commerce degree on par with Amercians (who always spend 4 yrs).
But if you need money now, just go do your CA- thats the real trade off.