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