Stuffing the CPA Pipeline

🔍 As we all know, the CPA profession faces a shortage of new CPAs and accounting graduates. A current shortage as well as a pipeline shortage. Last year the AICPA commissioned the National Pipeline Advisory Group (NPAG) to study this shortage and provide recommendations for enhancing the CPA pipeline. The NPAG is comprised of 22 professionals who are CPAs and accountants in the profession.💼

NPAG offered six draft recommendations to restock the talent pipeline. The NPAG’s data-driven & inclusive approach hopes to bring about meaningful & long term change. From reshaping education to enhancing the employee experience, their recommendations aim to address critical challenges.

NPAG’s first recommendation focuses on addressing the time and cost of education. They propose three concepts emphasizing competency over academic experience, potentially revolutionizing CPA licensure requirements. 🎓💰

The second recommendation suggests making academic experiences more engaging. NPAG endorses efforts to retool introductory university courses and improve support for students progressing into more challenging coursework. 📚👩‍🏫

Enhancing the employee experience is another priority, with NPAG highlighting the need for competitive starting salaries and manageable workloads. They urge employers to make tasks more interesting and advancement opportunities clearer. 💼💡

NPAG stresses the importance of prioritizing strategies to expand access for underrepresented groups, advocating for targeted messages and closer relationships with minority-serving institutions. 🌍🤝

Support for CPA exam candidates is also crucial, with NPAG recommending addressing exam costs, simplifying the application process, and rewarding professionals for passing exam sections. 📝💼

Lastly, NPAG emphasizes the importance of telling a more compelling story about the accounting profession to attract talent. They also encourage all CPAs to take the Pipeline Pledge, by committing to participate in two groups/activities per year for the express purpose of nurturing new talent. 🚀💼

With less students enrolling and more analytical majors in the business curriculum than ever it will take concerted effort to keep our CPA pipeline full! 🌟 #Accounting #CPATalentPipeline #Innovation #warfortalent #FutureOfWork 🚀