Haven't got promotion yet (working in current position less than a year)
Good performance, communication skills and improving working experience and knowledge
Honestly I'm not entirely sure on promotion possibilities, but from what I've seen it seems like a fairly linear transition from Graduate, to Junior, to Intermediate, to Senior and then potentially into a management roll. The only major effort (apart from having a good work ethic) is completing your CA (chartered accountant), which is a requirement to become a senior accountant
The following positions exist. Undergrad Accountant, Grad Accountant, Accountant, Intermediate Accountant, Senior Accountant, Assistant Manager, Manager, Senior Manager, Associate Director, Partner. Up until Assistant Manager, progression is more or less automatic and you will be promoted if you possess the correct attributes and are ready; there is a performance criteria that staff have access too. After senior accountant, promotions are based on merit