The accounting talent pipeline is narrowing at a troubling rate. As baby boomers retire, fewer college students opt into the profession, creating a widening gap in the number of CPAs.
In my latest Firm of the Future article, I share insights from a recent podcast interview with Jen Cryder, CEO of the Pennsylvania Institute of CPAs. She describes a profession facing urgent questions about its future workforce.
Here are Cryder’s key points:
Demographic trends mean increasing accounting graduate numbers alone won't fix the problem.
Attempting to change licensure laws state-by-state could take decades. Alternative pathways like work-learn programs may be faster options.
Conventional wisdom pushes students toward Big Four firms. However, regional firms can provide superior work-life balance.
Firms feeling the talent pinch may need to confront issues like high workloads and poor work-life balance
The profession needs more comprehensive data and collaboration to develop solutions.
This issue represents a crucial challenge for the accounting profession in the years ahead. How firms, educators, and licensing bodies respond may determine the future makeup of the CPA workforce.
