accounting influencers

how we solve the accounting talent pipeline problem | accounting influencers

“it’s not just debits and credits.”

 

accounting influencers
with rob brown

look into potential solutions for the alarming talent shortage with sue coffey, ceo of public accounting at the aicpa, and lexy kessler, partner at aprio and chair of the aicpa’s national pipeline advisory group, in this episode of accounting influencers, hosted by rob brown.

more accounting influencers with rob brown here

coffey and kessler discuss the overwhelming evidence pointing to a significant talent pipeline issue in accounting, including declining enrolment in accounting programs, fewer students pursuing the cpa credential, and challenges in retaining young professionals in their first five years of employment. but can the profession overcome this challenge?

the national pipeline advisory group findings underscore the urgency of collaboratively addressing the talent pipeline issue, involving stakeholders from academia, regulators, state societies, and the profession.

“we are a profession that communities, businesses, and economies need, and we just need to address our talent shortages and adapt.” – sue coffey

“it’s not just debits and credits. it’s really about the business person piece of it and the different scenarios and the strategy behind the numbers as well.” – lexy kessler

key takeaways:

  • the accounting profession is struggling with a talent pipeline shortage, but it’s not “withering on the vine” as some suggest.
  • improving storytelling and celebrating the profession’s impact is crucial to attracting younger generations.
  • the cost and time commitment of education, especially for socioeconomically disadvantaged students, is a significant barrier to entry.
  • firms must evolve their business models to provide a better experience for young professionals in their first five years, addressing issues like excessive hours and meaningful work assignments.
  • modernizing the cpa licensure process is a long-term goal to ensure the profession remains sustainable and relevant.

today’s guests

as ceo of the aicpa, sue coffey cpa, cgma, is responsible for establishing and executing the aicpa’s strategy that supports the work of u.s. cpas who practice in public accounting firms. coffey’s work includes setting strategy for and leading the aicpa’s initiatives related to cpa firm services and practice management; professional standards of practice; financial and integrated reporting; audit, assurance and advisory innovation; integrated tax and financial planning, valuation and forensic advisory services; audit quality, ethics and practice monitoring; and the uniform cpa examination.
lexy kessler, aprio’s mid-atlantic regional leader, was named vice chair of the aicpa in may 2024 for a one-year term before stepping up to chair in 2025. kessler is credited by aprio with expanding client services and driving innovative change. she serves as a member of aprio’s board of directors and chairs the aprio diversity, equity, inclusion, and belonging council. she is also a member of the board of trustees for marymount university, the board of directors for choral arts, and the past chairman of the board for the maryland association of cpas.

2 responses to “how we solve the accounting talent pipeline problem | accounting influencers”

  1. jack i. zwick

    kill the 150 hour requirement stand up to the pcaob fly specking and making it impossible for the small firms. jz

    • john kenna

      agree 100% on the 150 hour education rule. recall when it was implemented….profession wanted a more rounded practitioner back then. total bs