CA, then CPA are far more prevalent for a graduate wanting to move up through Big 4. (and most accounting firms really)
Personally, masters degrees are overpriced and worthless to most people; Great if your 40 and working in big 4 and want to add a little extra to your credentials, but won't make a huge difference unless it's you and another guy gunning for partner after 15-20 years service really.
http://www.smh.com.au/small-business/managing/blogs/the-venture/are-mbas-worth-the-paper-theyre-written-on-20130305-2fhon.html is a bit of an interesting read about the so called "value" of a MBA in Australia. The comments are worth reading personally.