2023 Top 100 People extra: Pipeline solutions

As part of this year’s Top 100 Most Influential People survey, Accounting Today asked, "How would you fix the pipeline problem of too few people entering the profession?"

The full responses of all the candidates are below. The full T100 list is available here.

There appears to be a set of interconnected themes driving the decline in accounting enrollment and CPA licensure that we have learned or validated through engagement with multiple stakeholder groups. Holistically, there is a lack of awareness for this amazing profession and the doors that can open when entering into it. 

When Lara thinks about the strategic response to these interconnected themes, she views it in five key focus areas that will be critical to drive change and increase the CPA pipeline.

• Marketing – elevating the awareness of the profession through exposure, marketing, and education, particularly for individuals in high school or younger
• Branding - redefining the perception of the accounting profession by highlighting the value of an accounting degree and the unique opportunities and exposure gained from a career in accounting
• Entry into the profession - attracting students to explore accounting at College/University to expand the pipeline of college graduates eligible to sit for the CPA exam or seeking other accounting or tax related certifications and entering the accounting profession
• Compensation/Benefits - awarding professionals in a meaningful way commensurate with value delivered and the scholastic and licensing requirements of a CPA and ensuring effective work models and comprehensive programs that prioritize employee purpose and well-being
• Professional development - developing the accountant of the future through various learning and developmental opportunities and exposure to business skillsets paving the way to a wide array of executive level positions within or outside of public accounting

Lara is committed to working with other organizations and our regulators to drive bold actions. Under Lara's leadership, we will be able to make significant strides in these areas and bring more exposure and clout to our amazing profession.
— Lara Abrash, chair, Deloitte US

There is no silver bullet, it needs to be a holistic and multi-faceted effort. Some of  the areas would include: 

• Continuing to move the business model of the profession to becoming more  of a "trusted advisor" and away from pure compliance. Young professionals  want to feel like they are adding tangible value to their clients.  

• Leverage technology for the "rote and mundane" tasks. Let humans do what  they do best (problem solving and being relational). Let computers do what  they do best (calculations). Students are used to working with cutting edge  technology, they don't want to enter a profession where they feel like they  are taking a step backwards technology wise.  

• Re-invent the partnership career path. When students compare starting  salaries of the accounting firm roles to others, too often it isn't competitive.  A lot of students don't want the traditional partnership model where  compensation is deferred for decades. A reimagining of this model is needed  (you are starting to see versions of this with private equity entering the  industry). 

— Justin Adams, CEO, Aiwyn  

I have always approached uncertain times as black swan events- moments that are opportunities that may initially look like obstacles.  I think that by embracing AI and automation technologies as enablers and enhancers of the accounting profession, rather than as threats and competitors- accounting can capitalize on this moment to grow and thrive.   AI and automation can help accountants perform their tasks more efficiently, effectively, and accurately, freeing up their time and energy for more value-added activities, better quality services and development of younger team members.  AI is a bump in the road- if accounting keeps its head up – they can seize the moment and capitalize on it instead of being fearful of it.  

— Michael Aiello, CEO & managing partner, Centri Business Consulting

Addressing the pipeline problem of too few people entering a profession demands a multi-faceted approach, tailored to the specific challenges and nuances of the profession. One of the impactful changes is adoption of Artificial Intelligence, including Generative AI and other techniques.  These advancements compel accountants to work more efficiently. By leveraging disruptive technology as a co-pilot, they can effectively add more hours to the day, automating repetitive tasks that accountants prefer to avoid…

— Sona Akmakjian, global head of strategic accounting partnerships, Avalara

Most people will say the 150 hours requirement is the issue, but I think the  problem lies with the perception of our profession. If accountants were seen as the  trusted business advisors and an asset to all the clients we work with, people would  be lining up at the door to be part of our profession. This is admittedly an altruistic  goal and requires firms to actually deliver on the promises they make on their  websites and in their proposals.  

The solution is not adjusting the education or the hours for the CPA exam, but in  building firms that deliver a culture of relevance to their clients and to their staff.  Many firms today are still measuring the wrong things, like billable hours and  realization rates, because they are focused on getting the compliance work done.  The compliance work is absolutely important, but that work, whether a set of  audited financials, a tax return, or monthly bookkeeping, should be the starting  point for providing the higher-value services that clients want and that staff enjoy  doing, and not just the sole deliverable of the work.  

That 150-hour requirement was never intended to throw more accounting classes at  students, but the intent was to give students a more well-rounded education in  business, technology, and communication. But what happened is that most  universities turned those extra 30 hours over to the accounting department, which  resulted in students just getting more accounting courses or just 30 hours of non value-add filler courses. A better approach would be a structured 30-hour  curriculum to teach students the communication and business skills they need to be  successful as accountants and advisors. If we can change the perception of an  accounting degree so that this profession is seen as the most direct pathway to  effective business advisory, students and their college advisors will see those extra  30 hours as an opportunity to learn the skills outside of accounting that they will  need to be successful.  

Fixing the pipeline also means we need to restructure the way that the work is done  to better align the skills required for the work with the skills and knowledge base  of the employees. In most firms, for the first three years, we have new staff do 

work that they did not need 150 hours of college classes to do. You do not need an  accounting degree to trace an amount on a spreadsheet to an invoice. It's no  wonder that there is a high attrition rate in the first few years when the work is so  mindlessly repetitive.  

We need to set up the work so that people have the right skills for the work they  are doing, which makes the work enjoyable. We need to make the work more  interesting and more relevant by helping staff see the connection between the work  they do and how it helps the client to improve their business. Many of the  procedures in an audit can be broken into tasks that can be handled either by  people who do not have an accounting degree or by automation. But when we have  over-skilled people – or people who perceive they are over-skilled – doing work  that is beneath them, the profession develops a reputation of being boring.  

Ultimately, much of that lower level work will be replaced by technology, so  accounting firms will not need as many entry-level people to perform the work.  However, this means we need to radically shift how we train new people. When  the entry level work is automated, the people entering the profession will need to  more rapidly advance their skill set from the compliance mindset they learn in their  accounting courses to a business-minded mindset.  

This business-mindedness has two aspects: how the accounting firm operates as a  business, and how the clients' businesses operate. A business-minded mindset is  always seeking ways to improve both aspects. Establishing common, firm-wide  processes for onboarding clients and for doing the work is an example of a simple  way to improve the business of the accounting firm. Improving the client's  business starts with being curious about the business and asking questions about  operations. The answers obtained from that inquiry can point to ideas to improve  the clients' businesses.  

When people have that two-sided business-minded mindset, they can start being  that trusted advisor to their clients, and that's what gets people excited. Excited  people will not only stay in the profession, but they will also spread the word about  what a great profession this is. Their enthusiasm will also spill over to the clients,  so that clients will tell all their friends about the great experience they are having 

with your firm. As word gets out about how valuable this new breed of accountant  is, the public perception will alter, and more young people will want to join this  profession. 

— Alan Anderson, founder and president, Accountability Plus

The challenge of attracting new talent to the accounting profession has been a fervent discussion point in recent years. Many of our tax and accounting firm owners grapple with finding qualified seniors, managers, and directors, illustrating the current talent shortage. However, my perspective diverges from the mainstream.

While many advocate for altering entry requirements, be it through academic pathways or professional certifications like the CPA exam, I believe the true challenge lies ahead, catalyzed by rapid technological advancements. With the rise of cutting-edge technology and artificial intelligence, the profession's landscape is bound to evolve drastically in the next 5 to 20 years.

Rather than focusing on the imminent scarcity of accountants, I'm more concerned about their role amidst these technological advancements. Not in the distant future, but within the next 3 to 12 years. I anticipate a paradigm shift: from discussions on a lack of accountants to deliberations on how to optimally utilize our time in an era dominated by AI-powered tax assistants that can replicate, if not surpass, the tasks performed by entry-level staff and even more seasoned professionals.

— Andrew Argue, CEO and co-founder, Corvee

I don't believe there's a single fix for this enduring challenge, but I am seeing some innovative efforts that will contribute to alleviating near-term staffing concerns and longer-term challenges of attracting new entrants to the profession. For instance, AICPA's Tom Hood has been working with DOL and Aon to create registered apprenticeship programs that enable young people to access career paths in accounting firms, including salary and benefits, mentorship and ongoing education. These types of efforts are essential to identifying the next generation of professionals with an early passion for accounting – and they're also part of the solution to finding creative ways to stoke the talent pipeline. 

On the flip side, the quest for automation through technology and most recently advancements in AI, will also play a huge role. These tools give firms another option in the face of the talent shortage, allowing them to grow without the need to add additional headcount. 

— Kim Austin, director, strategic accounting alliances, Avalara

1. Focus on your people. When your people know that you care, they will do wonders for your business. I always say that happy employees give you happy customers. We put a lot of energy into listening to and taking care of our people, which infuses their commitment to our customers through even the most difficult times. 
2. Be flexible. The pandemic forced LeaseQuery to move to a remote work policy, which later turned into the hybrid work policy we still have today. We went from working full time in the office to working fully remote overnight. We had to be flexible and adapt to change quickly. What this taught us in the long run was that we were capable of doing the exact same work, and often doing it better, within a more flexible environment. Our current hybrid model empowers our employees to thrive in the environment that works best for them while also allowing us to cast a wider net when recruiting talent, which is something we didn't have in the past. 
3. Be transparent. Your company needs to hear from you regularly. When we moved to a remote work environment and faced uncertain times ahead, I spoke to several CEOs who led remote-work companies prior to the pandemic shutdown. I asked how they built culture in an environment where they're not together. From there, we found innovative ways to engage our employees and communicate regularly, and even over communicate when necessary. 

— George Azih, founder and CEO, LeaseQuery

We could start by being more active at the high school level educating the youth about what CPAs really do. There are a lot of myths and stereotypes that need to be overcome. Eliminate the 150-hour rule, since there is no evidence that it produces more quality accountants. Allow CPA candidates to get credit for internships or even running their own businesses. I would go so far as to deregulate the profession, and rely on self-governance to administer entrance, quality, and sanctions for misconduct. Actuaries are self-governed and not licensed by the various states (except pension actuaries, known as Enrolled Actuaries, are licensed by the U.S. Department of Labor and U.S. Department of the Treasury's Joint Board for the Enrollment of Actuaries, similar to how Enrolled Agents are licensed by the IRS).* Of course, once these individuals enter the profession, let us acknowledge that our current business model of "We sell time" is anachronistic because it is the wrong measurement of the value of a CPA—similar to plunging a ruler into an oven to determine its temperature. This would allow us to improve compensation and the experience of working in a modern knowledge firm that recognizes that professionals are responsible for achieving a result, not performing a series of tasks (especially tasks that AI is increasingly eliminating).

* The proliferation of occupational licensure, which now affects nearly one out of every three occupations, has gone far beyond its intended purpose of protecting the public. Instead, it has become a politically motivated, bureaucratic web that stifles innovation, limits choice, and exacerbates inequality. Even President Obama's Council of Economic Advisors issued a report in 2015 that was highly critical of occupational licensure.

The notion that licensure safeguards the public is disingenuous. Empirical evidence demonstrates that licensure often restricts access to services, raises prices, and limits job opportunities for minorities and older workers. In fact, licensure can be used to stifle competition and maintain the status quo, strangling in the crib the very innovation and creativity that drives progress. Historical examples like Thomas Edison and Frank Lloyd Wright, who would be ineligible for licensure today, underscore the importance of allowing unorthodox thinkers to participate in the free market discovery process.

Reputation and legal recourse of tort law ultimately is superior at protecting the public. Deregulation is not just an economic issue; it is a moral imperative that can help reduce inequality and empower individuals to pursue their dreams without unnecessary government interference.

— Ron Baker, founder, VeraSage Institute

With the rapid change we've seen over the past few years combined with the power of emerging technologies, I believe it's an exciting time to be joining the profession.

It's no secret that accounting, today, is not the easiest career to get into. Students have to be prepared to invest significant time and finances in training and development to qualify as a CPA. After all of that effort, they want to be rewarded with a career that's fulfilling and satisfying.  

When it comes to talent, technology will be the biggest driver of change. AI automation will radically improve efficiency for firms. That will both reduce the burden of mundane tasks and at the same time increase job satisfaction for those working across the profession. 

Technology will help bridge the talent gap by transforming the future of work for tax and accounting professionals. Smarter, efficient technology that's easier to use and promotes remote access could help attract generation Z accountants who have grown up with technology. 

Additionally, AI has the potential to become an in-house trainer for junior or new staff, supporting efficient onboarding that could help them add real value to a firm from very early on in their employment. That could alter the expectations of the work that junior accountants will do, expanding to include more challenging work. In the future, career progression routes in accounting could promote access to increased earnings and growth opportunities into leadership positions from earlier than we've ever seen before. Achieving that could catapult accounting as a career choice for the next generation.

— Elizabeth Beastrom, president, tax & accounting professionals, Thomson Reuters

First and foremost, we need to convince students that accounting is the language of business and forms the foundation to successfully pursue your passion at a multitude of future roles. It gives you opportunities to succeed in a variety of different ways.  

I personally discovered early on in my journey that my passion was in providing technology consulting to businesses. I found that my time as a CPA learning the language of business is what propelled me to far greater success than if I had started with just a technology degree. The ability to understand how a business works and how to solve business problems formed the basis for my successful building of a technology consulting practice. Technology is only a tool that if deployed incorrectly can have you doing the wrong thing faster. The ability to truly understand your clients' strategies and objectives, and then align people, processes and technology to achieve their goals is a differentiator and was only made possible for me by my early years of learning the language of business as an accountant.  

At RSM, we're doing things today to help address the talent pipeline, including working with the AICPA, CAQ and other firms to gauge student attitudes toward accounting so that we identify opportunities for enhancement in how we position the profession and broaden its appeal to a diverse pool of candidates. We also offer a number of scholarships to attract more diverse and underrepresented candidates from Historically Black Colleges and Universities (HBCUs) and other schools not typically targeted by our profession. 

We're also purposefully connecting with increasingly younger students both at RSM and through programs of the CAQ and AICPA. This is important because a recent survey conducted by Miami University in Oxford, Ohio, at the request of the AIPCA, showed that 52% of students select their majors prior to entering college, while another 21% chose their majors during their first year. Only 27% of students had yet to choose their majors by the time they entered their second year, clearly demonstrating the need to reach students sooner in their educational careers. 

I also think we need to recruit people outside of our traditional majors or schools and provide much more robust development programs to train people to do the jobs we need them to do. The advantage of this is twofold: (1) it broadens our talent pool, and (2) it provides great opportunities for upskilling and developing employees who decide they want a career change. They don't have to leave our firm or profession—we can just train them to do something else much more efficiently and effectively than we do today.

— Brian Becker, managing partner and CEO, RSM US

I believe that some of these problems can be corrected by offering a blended career to aspiring accountants. Most accountants can be very good technologists, but not every technologist can be a great accountant. By getting students interested in both accounting and technology (two things that are very complementary given the current landscape), it will undoubtedly benefit their future professional goals. Additionally, I think there could be a greater push from accounting firms to actively recruit individuals while they are still in school. 

— Michael Bernard, VP, tax content strategy and chief tax officer, Vertex

One pipeline issue that sticks out to me is not providing enough early industry education on accounting. Young people need to be able to see themselves in a career in our industry. To help address this, BDO continues to support the Center for Audit Quality and its Accounting+ initiative. The program seeks to actively engage with high school and college students to build awareness about the possibilities of our profession as well as dispel misconceptions about the industry. 

— Wayne Berson, CEO, BDO USA

I would encourage firms to consider current supply and demand economics and to charge appropriate fees allowing them to increase starting salaries, which in turn will allow for the hiring and retention of new professionals.

— Ken Bishop, president and CEO, National Association of State Boards of Accountancy

This is an issue that will need to be solved on multiple fronts.  Part of the solution will be improving the attractiveness of the profession by highlighting the public service aspect and importance of being a CPA, improving compensation, and making sure our profession maintains good work/life balance.

— Joel Black, chair, Governmental Accounting Standards Board

As we and others across the profession work together to encourage the next generation to consider a career in accounting and earn their CPA license, we need to begin at the root of the problem, which has many contributing factors. 

First, we need to shift the perceptions around a career in accounting and the opportunities that exist within the profession. We need to change how the profession is promoted and discussed with young people and highlight how a career in accounting can enable them to work in a field that aligns with their career aspirations, including how accountants create impact, work with new technologies and use their accounting background as a steppingstone to other career opportunities in finance and to achieve upward mobility.  

Too often, young candidates merely envision the role of an accountant as working with numbers, charts and spreadsheets in the absence of innovation. It is incumbent on those of us in the profession to help them understand the magnitude, importance and speed at which we must work to deliver information to businesses to not only comply with professional standards and inform capital markets and investors (all very important and challenging in their own right), but also help inform business strategy. 

For example, like doctors, we perform 'tests' and analyze results, leading to significant discussions about risk management that can impact an organization's entire operations.   

Second, when we talk with young people about accounting and becoming an auditor, we must take time to understand what's holding them back from pursuing a career in the field. Understanding the unique career aspirations of each prospective accounting student during the recruiting lifecycle enables us to highlight the relevant benefits and opportunities of a career in accounting. Students today are seeking a "career playground" not just a "career ladder" anymore, where they can master skills in different areas. Professional services firms present a unique opportunity for them to grow and develop and explore, which can play a critical role in attracting new talent to the profession. While the use of new technologies and digitalizing the audit creates exciting opportunities for auditors to approach clients with greater insights, students may have concerns that if left unaddressed, may spur them to look elsewhere to fulfill their career aspirations.

Third, we need to find ways to increase affordability and make the profession more accessible. That is why, as mentioned earlier, we launched the EY Career Path Accelerator program two years ago. It charts a more accessible, cost-effective alternative for students to become CPA-eligible as it provides participants with accredited business and elective courses toward the 150-hour education requirement to sit for the CPA exam. 

To date, 360 former and current EY US interns have enrolled in the EY Career Path Accelerator program, including more than 50% racially and ethnically diverse learners. Nearly 95% of them are aligned with the EY US Assurance and Tax practices. What's more: EY US funded approximately 65% of the learners with more than $440,000 of needs-based aid through the EY Foundation.

But that is just one of the ways we are tackling this challenge. EY US begins at the high school level to build accounting awareness, including one-week summer programs to introduce racially and ethnically diverse high school students to the accounting profession. 

At the college level, we create engagement through such initiatives as the EY US LAUNCH internship program, an immersive, rotational experience to help students who major in Accounting, Business and Information Technology build a foundation for a professional services career. Typically, these interns are two or more years from graduation and work across EY US service lines, gaining exposure to our business, culture and advanced technology and tools. 

Students pursuing an MBA or an advanced degree play an important role on our high-performing teams and receive opportunities to perform transformational work for some of the world's leading brands. At EY, they can learn from the best, surround themselves with the curious, and are encouraged to ask better questions to seek better answers and build a better working world. 

Through the EY Digital Ambassador Program, we immerse audit interns in digital and innovation for the last two weeks of their internship to accelerate their professional development. This past summer, we welcomed 83 participants from 68 colleges and universities across 37 US office locations. 

Another inspirational and informative EY US program, Women in Audit, allows students to hear from EY women audit leaders about their career journeys and expertise. This program also provides them with access to digital audit tools that offer insights into how technology and innovation are enhancing the work EY US does for clients and key stakeholders.

EY US also is committed to supporting strategic initiatives through the Center for Audit Quality (CAQ), including:

• Bold Ambition, aimed at increasing the representation of minority groups within the accounting profession, includes Accounting+, an initiative to increase the profession's diverse talent pipeline by informing students about the benefits and possibilities associated with an accounting career. The program's website also provides transparency into the profession's diversity, equity and inclusion actions and efforts. 
• DISCOVER AUDIT, an initiative aimed at introducing the world of public company auditing to the next generation, which has featured experiences of EY professionals and alumni, as a way to build career awareness and interest.

These are among the varied programs and ways both EY US and the EY Global organization endeavor to strengthen the talent pipeline. We are pleased to see others working as well to educate, encourage and introduce more talented young people to our profession, which is so vitally important to businesses, the capital markets and investors everywhere.
— Julie Boland, U.S. chair and managing partner and Americas managing partner, Ernst & Young

The solution to the pipeline challenge must be multi-faceted including everything from early educational outreach to competitive pay but we also need to change the narrative around the brand. Too much conversation is focused on the challenging characteristics of the profession (long hours, repetitive/mundane tasks, workload compression, etc.) and not enough on the positive aspects of a career in accounting — the positive impact we have on our clients' personal and professional lives, flexibility and the high level of trust/respect our profession has earned.

— Jim Boomer, CEO, Boomer Consulting Inc.

Change the messaging from the negative (hours worked) to the positives about the opportunity for life-long learning, being a part of a unique ability team, adding value, growing financially, and having multiple career opportunities within your firm and the profession. The return on investment is exponential for those with the mindset of life-long learning and personal development.

— L. Gary Boomer, founder, visionary & strategist, Boomer Consulting Inc.

We need to do a better job of educating the future of this profession on how our profession has the ability to provide an amazing quality of life for those in it. It's like the best kept secret. Yes, starting salaries in other professions may exceed starting salaries for today's accountants, but our profession provides the opportunity for an amazing upwards earning and growth potential and an amazing quality of life. We just don't spend enough time talking about this.

— Jim Bourke, managing director, advisory services, WithumSmith+Brown

To begin addressing the accounting pipeline problem, we should begin with providing resources and alternative approaches to obtaining a CPA license. Recognizing the challenges faced by aspiring professionals, particularly those who may be the first in their family to pursue higher education or have limited exposure to the accounting field, initiatives like PwC's While You Work - CPA Acceleration Program or the AICPA's Experience, Learn & Earn Program work together with universities to break barriers and create opportunities. These programs provide financial support and experience, while also equipping participants with the necessary skills and knowledge to kickstart their accounting careers. Opportunities like this, funding and scholarships are crucial solutions for the pipeline problem as they provide aspiring professionals with the tools, resources and support they need and will attract a more diverse pool of talent. Standardization will also be helpful. Right now, there are inconsistencies across states which can result in confusion and frustration. Minimizing differences and simplifying the process across state lines brings us one step closer to create an easier process to become CPA certified. 

We should also increase awareness and exposure to the accounting profession at an early stage, such as in high schools and colleges. I knew very little of the field prior to taking my first accounting courses at Elizabethtown College. As an industry, we should collaborate with educational institutions to develop accounting-focused curriculum and promote accounting as a viable career option—and as a STEM career! In my opinion, it's never been a more exciting time to be a CPA. The CPA's role is evolving and has purpose. They are critical to our capital markets, and whether you want to own your own business, be a CEO/CFO or work with the highest level of leadership in any sector, accounting will help get you there. As a profession, we should also use our voices and impact to attract others to a career in accounting. 

— Wes Bricker, vice chair, Trust Solutions co-leader, PricewaterhouseCoopers

You have to offer a job opportunity that is actually appealing to potential accountants. To do that, they need reasonable hours of work, a clear career path so they know how to progress, and responsibility. Everyone gets fulfillment from having purpose. The job should give them that.   And unfortunately, the perception of the industry is a sweat shop.  Those that do embark on it usually accept they can suffer through this because it's a great stepping stone to something that appeals more to them.  

Let's just fix the work environment and they'll want to stay. 

— John Briggs, founder, Incite Tax

Educating students and the next generation of accounting professionals about all of the opportunities is critical. 

One of the key reasons that we founded The Accounting Cornerstone Foundation is to help young people considering the profession and those who are in it be able to afford access to the kind of community and education you can only find at live conferences. Through the support of donors we help new professionals attend these life-changing events. We do this through funding trips to conferences and providing career-enhancing peer support.

We also have to change the definition of being an accounting professional to make it into a more exciting and energizing career choice. This starts with us defining it for ourselves and to our clients so that we actually choose how we run our businesses and careers as accounting professionals. 

The generation coming up is turning away from the traditional accounting career because they know there is a better way to earn a living and it doesn't involve endless hours and low-paying clients. They want a balance of life and a mission-based career which gives them purpose. I support this mindset 100%!

We have the responsibility to change the profession and show the next generation a better way. We need to take charge otherwise we will continue to see challenges. We all have to be part of solving these challenges together.

— Dawn Brolin, CEO, Powerful Accounting

We need to energize and excite high school students about the field of accounting and the many, many opportunities that are available by studying accounting and becoming a CPA.  Whatever specific passion a young person has –an accountant in needed in that area.  If they want to focus on finance, sustainability, fashion, technology, movies, sports – whatever it is, accounting is a way to get to their dream job.  Everyone needs an accountant, and despite the perception, accountants lead very interesting lives and no two days are ever the same.  I know there are many efforts underway to inform and recruit high school students, and I think we can each do our part by volunteering in our local communities and getting the word out.

— Jennifer Burns, chief auditor, AICPA

We've seen firsthand from QuickBooks data that the talent shortage is a major pain point for the accounting industry today. A survey we conducted earlier this year found that almost all (94%) cite a dwindling pipeline of young accountants entering the industry as one of the biggest challenges when it comes to hiring and retaining talent. However, what we've also seen is that the power of technology can help close this gap. In our survey, 85% of respondents believe tech could help turn this around by making way for more engaging work. By using AI to supplement low level tasks, accountants can help uplevel junior staff faster, ultimately making the profession more attractive. 

We also saw from that same survey that mentoring is a key differentiator for firms to drive talent retention, with 36% of respondents citing mentorship as a key way to create a competitive advantage. With a tight talent pipeline, these differentiators can have a significant impact on the firms that ultimately attract and hire top candidates.

— Ted Callahan, director, Intuit QuickBooks partner segment

I believe that AI-powered software is the solution to the industry's pipeline problem, because by automating the repetitive and tedious work that accounting

students have come to see as synonymous with the CPA profession, technology can be used to make CPA work rewarding and intellectually stimulating. 

In addition, I believe that AI-powered software is critical to a firm's talent strategy regardless of which resourcing approach they take, including outsourcing and offshoring. AI-powered software helps to minimize any errors or confusion that could be introduced through language differences, cultural barriers, or limited experience from outsourced resources. For example, a Top 200 firm in the Midwest that has a global team whose first language isn't English uses Fieldguide AI to generate tests and requests to help with any translation or grammar issues. 

In short, I would solve the talent shortage by continuing to partner with CPA firms to deliver innovative, AI-powered technology. Along with whatever other resourcing options a firm chooses, I believe that software designed specifically for CPA firms is the answer to transforming a resource-constrained profession in the midst of rapid growth and increasing demand. I'm passionate about delivering innovative technology that will help and inspire countless members of the CPA community. 

— Jin Chang, CEO and co-founder, Fieldguide 

We need to find creative ways to lower the barriers to entry and increase visibility into the interesting, diverse and challenging things accountants do!  The 150-hour rule and the amount of schooling and testing required have become significant hurdles, and too many qualified candidates choose careers with shorter start ramps, and higher initial compensation.  We are losing so many of the best and brightest to other professions (great pay, exciting projects, and not near the level of schooling or certification required). Maybe re-visit what it means to be certified, i.e. offer a foundational certification, followed by specialized certifications, earned with real-world experience, over time?  

— David Cieslak, EVP, chief cloud officer, RKL eSolutions LLC

The accounting profession must adapt and evolve and re-invent itself. Fostering a more inclusive and diverse environment can help attract a broader range of talent. Additionally, embracing technology and data analytics to streamline and automate routine tasks can make the profession more appealing to those seeking a dynamic and forward-thinking career. By modernizing its image and embracing innovation, the profession can better meet the evolving demands and expectations of the workforce of today and tomorrow, allowing it to become a more attractive career choice.

— Rhonda Clark, executive director, Association for Accounting Marketing

We face a challenge of immense complexity, and the challenge is not ours alone.   The National Student Clearinghouse Research Center has shown that undergraduate credential earners overall fell for the first time in a decade. Many sources predict an even greater enrollment cliff by 2025 as the number of college- bound 18 year olds will drop sharply based on demographic patterns. When you examine the many root causes, it becomes crystal clear that the there is no single solution to our talent challenge. However, there are a few things that would have more significant impact.

Firstly, we need to stop focusing on what's wrong with our profession and start talking about what's right.  We are an amazing profession that helps economies, communities, businesses and individuals grow and thrive. The next generation is all about purpose and we should be shouting from the rooftops – and on every social media channel: this is a profession that makes a difference.

Secondly, we have an image problem, which stems from how hard we work, how long it takes to advance, how much we pay our professionals, and our failure to focus on positive attributes. The reward for the work and what it takes to get there, including our requirements for entry, is not where it needs to be.  CPA firms and corporate finance departments need to consider these issues as they evaluate and modify their business models to create cultures that attract and retain talent, including compensation, advancement and leadership opportunities.   

Thirdly, we need to simply our regulatory processes for entry.  Disparate and complicated processes confuse and frustrate those who want to be CPAs.  We also need to find ways to make education more affordable to create greater access to our profession, especially for underrepresented sectors of our population.

Fourthly, all elements of the profession – the caretakers of the pipeline – have to work together versus in silos as we seek to make meaningful change. That is why we created the National Pipeline Advisory Group, including soliciting and aggregating insights from a broad range of stakeholders in the accounting ecosystem.

Bold solutions are mandatory.  The collaboration of all stakeholders in the profession, including practitioners, academics, regulators and organizations that support the profession is required to ensure the next generation of accountants who can help support the achievement of financial well-being for so many.  

— Susan Coffey, CEO, public accounting, Association of International Certified Professional Accountants

— Crystal Cooke, director, diversity and inclusion, AICPA

In order to attract new people into the profession we need to do the following: 

1) Starting salaries need to increase. The lifetime earnings of someone in public  accounting are very high, but people don't want to wait 20 years to become a  partner and get their big payday.  

2) The perception of the profession needs to change. The perception is that  accountants do not have a good work/life balance. This is true for some but in  reality, I know many firms that have made a concerted effort to promote a good  work/life balance, we need to continue to educate everyone that this can be done  and change the overall perception of the profession.  

3) I think creating niche firms will be very important. As a niche firm you get to  dig deep into the industry or service your niche is in. For example, if someone is  passionate about fine dining and they know there are firms out there that solely  work on fine dining restaurants they may be more likely to choose accounting as  a career. 

4) Automation will continue to be extremely important. The more we can  automate the less reliant we will be on staffing, and it will free up our current staff  to do higher value work. 

— Randy Crabtree, partner, co-founder, Tri-Merit Specialty Tax Professionals

Expand the definition of public accounting to include non-CPAs. This could start with the AICPA launching a non-CPA professional membership group and implementing from there. It could possibly lead to a credentialing program for non-CPAs, and perhaps a path to CPAs for individuals who are interested. It would create an expanded pipeline, redefine an alternative career path to CPA, reconfigure workforce deployment, and otherwise lead the profession to solve many talent shortage issues. 

— Gale Crosley, president and founder, Crosley+Co.

I believe the solution to the pipeline problem lies in redefining the relevance of the CPA profession and that the development of a long-term human capital strategy prevents the next pipeline crisis.

Please see my thoughts on redefining relevance above (most important issue facing the profession).  

A long-term human capital strategy is needed, more specifically, as we think about the best ways to attract and retain top talent in our profession independent of labor market cycles.  This strategy needs to consider both supply-side and demand-side factors to ensure that that we are sourcing talent to meet the needs of the profession well into the future.  While I applaud the work of the National Pipeline Advisory Group and others (AAA, CAQ, etc) they are only focused on the supply side.  Certainly talent attraction and retention is critically important – particularly when it comes to diverse talent.  

Beyond that, though, we need to consider things like the evolution of a global workforce, culture, the impact of technology, changing ownership & compensation structures in firms.  These demand factors must be considered to ensure we are building the right workforce of the future, instead of just trying to replace the workforce we had before.  We know, for example, that technology can replace much of the entry-level work, freeing early career accountants to get into more interesting and valuable work earlier in their career.  As we think about how best to pull those technology levers, we also must consider how those early career professionals develop their skills in the absence of traditional work experience. 

In the building of a long-term human capital strategy, we may find that an expectations gap exists between what we think we need in the pipeline and what we actually need.  Certainly gaps exist in skillsets, and quantifying a target number of candidates to exist in the pipeline of the profession is elusive at best.  What is known, though, is that labor markets are cyclical.  The workforce of the future won't mirror the workforce of the past so let's solve for that.  

— Jen Cryder, CEO, Pennsylvania Institute of CPAs

Addressing the pipeline problem in our profession requires a multifaceted approach that involves embracing diversity, redefining the traditional path to accounting careers, and recognizing the value of flexibility for all professionals.

To fix the pipeline problem, we need to expand our recruitment efforts beyond the typical mold. We should actively seek out individuals from non-traditional backgrounds and industries, individuals like myself who entered the profession after pursuing different career paths. I began my journey as a computer science major and obtained my CPA 16 years into my career, proving that the accounting profession can be a destination for those from diverse educational and experiential backgrounds.

Moreover, it's essential to champion the importance of lifelong learning and professional growth, encouraging individuals to consider accounting as a viable and rewarding career option at any stage in their lives. Our profession is not confined to a single trajectory, and there is room for innovation and fresh perspectives.

Inclusivity is a key aspect of addressing the pipeline problem. We need to encourage more women and people of color to enter and stay in the field by creating an inclusive environment that values their contributions and offers equal opportunities for success. Flexibility is paramount, especially for mothers who want to balance family life with their careers. As an illustration, I was the first pregnant woman at Schellman and experienced firsthand the pressure of that situation. At Schellman, we've made it a priority to foster a supportive environment that prioritizes the well-being and professional growth of all our team members, resulting in a remarkable 90% employee retention rate and recognition by Accounting Today as one of the Best Places to Work three times in a row.

In essence, fixing the pipeline problem means breaking away from the traditional mold. It means looking beyond the same places, the same people, and the same schools. Our profession thrives when we embrace diverse viewpoints and skills, creating a culture that truly stands as the best-in-class. 

— Avani Desai, CEO, Schellman

I would start by getting rid of the 150-hour rule, which mandates students pass 150 hours of college credits as a prerequisite to earning a CPA. Starting in the early 2000s, we basically require a graduate degree for anyone to become a CPA. The aim was laudable: to elevate the profession. I believe it has had the opposite effect and has instead, become a major hurdle in attracting talent. It's time to end it. 

EY in the US has done a lot of research into the pipeline issue, participating in the past in the AICPA pipeline summit, the CAQ Bold Ambition Initiative, several projects with the American Accounting Association and much, much more. We have also done things where we are able, including significantly increasing starting salaries, providing a high-quality, free accounting curriculum to ensure the course content is relevant, engaging and timely (at no additional cost to the university), and creating programs to make accounting careers more affordable and accessible to all. By creating exciting career tracks for people with associates degrees, bachelor's degrees and master's degrees, we have created optionality for students. Additionally, we have the EY Career Path Accelerator, where we have partnered with a triple-accredited institution to provide very low-cost credits (and financial aid) to those who either cannot afford a master's degree or have a desire to enter the workforce after four years of school. The new career paths also will attract students with different career priorities. 

The accounting industry also lacks diversity and actively recruiting people from different backgrounds is a win-win-win: people get fulfilling jobs, we grow our pipeline, and our clients get advice and know-how from a more diverse pool of talent. A report published by IMA (Institute of Management Accountants), CalCPA (California Society of CPAs) and IFAC (International Federation of Accountants) observed a "diversity gap" between senior leadership of the profession and the whole of the accounting and finance workforce. I've seen firsthand how diversity in all its forms — including gender, ethnicity, age, experiences, skills and social background — can lead to high-performing teaming and exceptional leadership. This year, as part of a multipronged approach to attracting more diverse talent into our pipeline, we featured many first-person stories from EY people in the highly successful "Uplift" video campaign. 

While diversity outreach can help bring more people into the profession, to be most effective it requires buy-in from top leaders and accountability. I'm incredibly proud that EY's Global Executive, our highest EY leadership body, signed a public statement to lead inclusively and elevate our focus and accountability around diversity, equity and inclusiveness (DE&I) progress. This is also our fourth year using a Global DE&I Tracker, which holds us accountable with hard data, and we continue to see compounding progress across the EY organization. 

— Carmine Di Sibio, global chairman and CEO, Ernst & Young

We all have a role to play in this. Fixing the image of the profession will require a profession-wide commitment to managing some of the challenges of being in public accounting, including more competitive pay and being a better example of the work and lifestyle. I believe universities need to help by giving more exposure to non-big 4 firms. There are still too many students who think that is the only option. In turn, firms need to better showcase or continue to commit to showcasing the fun side of what they do, including how they present it. Make it less about tax season and more about how they are helping people. 

— Sarah Dobek, president and founder, Inovautus Consulting

If I put aside census data, I would go back to where the decision is made on what careers seem interesting.  For me, it was elementary school.  But others, it may be 8th grade or at some point in high school.  I would share consistently the unlimited possibilities of the profession by developing a cohort and after school program that promotes accounting.  I would also get parents and school counselors involved.  Consistency is key.  

I also define the profession very broadly.  Accountants work across the profession in Public Accounting, Business/Industry, Government, Not for Profit, Education, and Consulting. Across these segments, we must get together to get on message. We meaning the leaders, members, membership associations, and credential organizations. What 3 to 5 messages can we agree to and then how can we demonstrate and showcase those messages in forums that are viewed and attended by our target audience. We need an ad campaign like Feed the Pig or Don't be a Litter Bug.  Even if we only had percentage of those who work in the profession working on a consistent message and brand, we could impact positively enhance our overall brand and image.  

Retention, compensation, culture and well-being are also factors that we have to consider.  The people in the profession are the best ambassadors.  What do they say about these factors? It is the perception of value.  Is becoming an accountant worth the time and trouble? Students think being a doctor is hard—lots of money and schooling but many still want to do it.  

I very notably didn't say 150 hours because you only need 150 hours if you plan to become a CPA.  The discussion regarding 150 hours presumes that everyone wants to be a CPA. There are plenty of accountants who have chosen other paths.  So while being a CPA is an amazing path, it is not the only one.  The profession is not just the CPA aspect of the profession.  The challenge of who is entering the accounting profession and the challenge of getting more people to become a CPA are related but are not the same question. 

— Kimberly Ellison-Taylor, founder and CEO, KET Solutions LLC 

First, I would overhaul the brand and positioning of the profession to highlight all of the amazing things and diversity of roles one can have in tax & accounting.

Second, I would drive awareness of the profession with younger people, especially people of color, in middle and high schools, so by the time they go to college, they seriously think of tax and accounting as a career option. For example, my team and I are working with a finance scholar program at a local high school in Alexandria, VA to broaden their awareness of the possible career opportunities in tax and accounting. 

Third, I would make an accounting education more accessible to all students, while providing resources, support, and even incentives to take the CPA exam. We need to lower the barriers to entry for the profession.

— Lisa Fitzpatrick, president, Bloomberg Tax & Accounting

To address the talent pipeline issue, the profession must redefine the scope of accounting roles and envision a future that expands its influence within organizations. The current perception of accounting as uninspiring hampers its ability to attract dynamic individuals seeking fulfilling careers without enduring excessive work hours and outdated management practices. Firms must identify what excites individuals about accounting work, embrace new technologies and demonstrate a commitment to grooming young talent for leadership positions. By fostering a culture of growth and innovation, the profession can attract and retain passionate individuals, ensuring a vibrant and thriving future.

— Lee Frederiksen, founder emeritus, Hinge

Addressing the pipeline issue of limited entrants into the accounting profession  requires a multifaceted approach – the approach we have been embracing. There's  no silver bullet solution to this challenge. It's essential to remain engaged,  consistently listening and fostering a spirit of inquiry. We can better understand  underlying deterrents and potential attractions by asking the right questions and maintaining a curious outlook. Data-driven decision-making is paramount,  enabling us to pivot our strategies and continually refine our approach. Equally  crucial is the intentionality of our conversations about the profession, promoting its  merits and clarifying misconceptions or myths. Being humble, acknowledging  challenges, paying attention to pain points and seeking collaborative solutions will  be vital in revitalizing interest and ensuring a steady influx of talent into the  accounting world.

— Denise LeDuc Froemming, president and CEO, California Society of CPAs

I would like to reverse the stereotype of accountants being overworked, underpaid, bean counters.  Part of the reason this stigma exists is because there was some truth to it.  As a result, we have a shortage of students in accounting programs and others leaving the profession to search for higher paying jobs and alternate careers.  In my firm, we are reducing the amount of overtime that our staff is working by relying more on technology.  We are also training our staff to become consultants that add value to our clients' businesses – being proactive instead of reactive.  Finally, we offer financial incentives for their success in various categories which allows them to increase their compensation.  We have found success with each of these initiatives.

— Daniel Geltrude, CPA, founder & managing member, Geltrude & Co.

Better culture….continuing to find ways to allow them much more freedom and a designed culture that fits their evolving personal culture.

— Julio Gonzalez, CEO, Engineered Tax Services Inc., The Growth Partnership, ABLE CRM for Accountants, Rosenberg Survey, Inside Public Accounting

Educate the next generation that there is a lot more you can do than just plain vanilla bookkeeping in accounting, there's everything from tax rep to tax planning to teaching. 

— Eric Green, founder, Tax Rep Network

I recently met with a group of very strong up and coming leaders who had been in the profession seven years or less. They shared with me that if in college professors, professionals or people had shared how if they had known how incredibly rewarding and interesting their jobs could be, they would have been even more excited about this. I believe that if we offer our professionals the ability to learn more from us on how we truly help our clients and on the impact we have, more people will get excited and more people would choose this profession. I believe it is a combination of educating young people, professors, the community at large on how amazing this work is and allowing our people to be involved in transformational work earlier in their careers, we could make a tremendous amount of progress with the pipeline process.

— Angie Grissom, owner, chief relationship officer, The Rainmaker Companies

Since its inception, the tax profession has long been a deeply specialized and complex area to work in – even more so in corporate tax where there is added complexity and risk. 

Tax professionals are anticipating some of the benefits that AI could bring – notably to the human capital issue prevalent in the industry, and I believe that's key in addressing this challenge. By 2028 professionals believe more work will be done by people without traditional tax and accounting qualifications. That means we could see a broader talent pool choosing tax as a career route, and increased diversity of thought among professionals working in tax departments.

AI has the potential to take on much of the mundane, time-consuming work currently being carried out by tax professionals. As AI evolves to bring greater automation to tax professionals, human judgment and consultation will become the areas that humans can really thrive in. Corporate tax professionals will be looked to by their businesses for the high degree of judgment on tax matters – an area that we all know isn't black and white, and that's not likely to change any time soon. Overall, I see the potential of AI as a game-changer for elevating the tax profession as an appealing career choice, while also increasing job satisfaction for professionals already working in the sector.

— Ray Grove, head of corporate tax and trade, Thomson Reuters

Diversity, equity, and inclusion play a significant role in the future of the accounting profession. Deloitte has been at work generating more advisory, auditing, and tax career opportunities and leadership pathways for the next generation of CPAs. The MADE initiative, which just reached it's 2-year anniversary, combines both financial support and the depth of resources an organization of our size can bring to attract diverse individuals into the accounting field and support them as they chart their path from high school, to business professional, to accounting leader. Additionally, the accounting profession has been and continues to be a career catalyst for many professionals across a wide variety of experiences. That will be even more prominent in the future, as our professionals gain in-depth knowledge of technology driving data analytics and AI capabilities. We must continue to showcase for all of our professionals the valued technical skills and capabilities that are foundational learnings in this profession, and that will springboard their careers whether they stay in accounting or seek opportunities elsewhere. We are proud to cultivate talent that will fuel success across the business community and ecosystem in the many years to come.

— Dipti Gulati, CEO, Audit & Assurance, Deloitte & Touche LLP 

The industry has always been challenged by a shortage of people entering the profession. Addressing the current and future pipeline comes down to: 

• Making the work of accoutants more efficient 
• Making the work of accountants more enjoyable
• Making the work of the accounting industry more agile 

AI and automation tools are empowering accountants to be more efficient, freeing them to spend time on more satisfying work. At the same time, these technologies supercharge capacity to analyze information, discover important insights, and guide business leaders to make confident, real-time decisions. So, the first part of the solution is making today's accountants more productive, but I think the better story is the same investments make accounting a more attractive career choice for the next generation. 
This evolution requires accounting leaders to embrace agility, which can feel a bit uncomfortable.  After all, the world relies on accountants to provide trust and assurance in business and markets.  However, it's that confidence in accountants that leads businesses to entrust digital transformation to accounting and finance leaders.  It's not surprising that company boards are increasingly advancing CFOs to the CEO position.  

Also key to strengthening the accounting profession pipeline is hiring from a more diverse talent pool, increasing access to underrepresented communities and less traditional accounting career paths. I am proud to work with Teens in AI, inspiring teenage girls to enter the wider tech industry with early exposure to AI. At Sage, we also partner with Morehouse College and Newcastle University to draw young people from more diverse racial and socioeconomic backgrounds toward more rewarding career paths. 

— Aaron Harris, global CTO, Sage

As I noted earlier, I see relevancy as our key issue, with starting salaries right there. That said, I do think a holistic approach will ultimately bear the most fruit. I am supportive of the drive to add accounting to the "T" of technology, but don't believe that alone will fix the problem. I am extremely supportive of competitive salaries for those entering and staying the profession, but I don't believe that alone will fix it either. And I certainly believe that continuing to focus on making our profession as equitable, diverse, and inclusive as the communities we serve will encourage students of all backgrounds to consider the profession, yet I don't think that alone will fix our challenges. Essentially, I think we need to push every viable idea, from relevancy, to accounting as STEM, to a truly diverse profession, and absolutely one with competitive salaries if we want to truly move the needle. A holistic and consistent approach is our best option.

— Calvin Harris Jr., CEO, New York State Society of CPAs

We must make our profession a profession that provides a good income but, more importantly, not at the expense of family or our health. When our children are not interested in following in our footsteps, I don't know why others would. 

— Roger Harris, president, Padgett Business Services

Diversity! We need to create a more diverse and inclusive environment in the accounting industry. Individuals with diverse backgrounds, whether it is their ethnicity/race, gender, orientation, or physical ability level, folks quite literally do not see enough of themselves in the accounting profession. We need to start nurturing not only students at the college level but also at the high school and grade school levels. Work on getting accounting add an option within the STEM curriculum. There is a workforce, they may not look or think like us, and that's a GOOD thing! Bringing those folks into the profession will only make it stronger. 

— Jennifer Harrity-Cantero, director, Sensiba Center for Sustainability

We have to approach this problem from 2 angles. 

First, the academic side and those choosing to go into tax & accounting. For this, I would like to see more exposure in high school and community colleges. This pushes the desire early, and on the community college level allows for focus on the program. With that the number of credit hours conversation is still present. I do believe we should trust the rigor of the exam over the quantity of credits. We can look to work experience in a CPA firm as a credit replacement as well – after all, I want more experience from my CPA – not more college credits.

Secondly, we must see the value in external hiring from outside the profession. In order to extend this beyond administrative and technology functions, the firm must get comfortable in the training world to teach the core tax & accounting skill sets. I believe this is where a major untapped opportunity exists – if the leaders of firms are either willing to train or able to work together on training plans and methods to share amongst firms. I can see state societies and associations filling a major void here if they are willing to do something different. 

— Will Hill, owner, Will Hill Consults

Two areas:

1. Our National Pipeline Advisory Group and our Accelerated Pipeline Initiative are mobilizing the CPA Profession to collectively focus and work on the pipeline. We have done this several times in the past when we had shortages. 
2. I also think that the accelerated trends that started with COVID-19 and now with ChatGPT/Gen AI will lead to accelerated automation of entry-level accounting which will ease the demand for entry level professionals. For example, Gartner predicts 'autonomous finance and accounting by 2028. This is predicted to change the shape of accounting from the pyramid to a wide diamond shape. That automation will also increase the value CPAs provide as 'value partners' in businesses and advisors in firms.

— Tom Hood, EVP business engagement & growth, AICPA

See above about making the profession more appealing by demonstrating that there are so many opportunities beyond the traditional compliance work of debits/credits, tax and financial statements. CPAs can be wonderful navigators for organizations and individuals and the more we gain momentum truly building that work into the every day it will grow outwards into more opportunity. Opportunity in the form of higher value, higher wages and a brighter light on the fun a CPA career can provide. 

I also think we can make more of an impact at the high school level to begin getting students interested in an accounting and finance career. My son is currently a sophomore in high school and his school has gone from 3 business courses to 12 in just a few short years and he's already in his second accounting and finance course. The more we can work with high schools to build this into the curriculum will help the pipeline of interested candidates coming into college.

— Dustin Hostetler, co-founder and visionary, Transformity Solutions

If you look at the pipeline challenges, we have to understand where to start the awareness. Many students gain awareness at the high school level. We have to minimally establish awareness there. We need to go beyond and show our relevance to the next generation — particularly those who may not have even known a CPA or ever grown up around one. This includes our partnerships at all levels, such as state and local government, and taking into account all the things we can influence and change to assist this pipeline issue. One thing is not going to get us there; we have to look at the educational system and overall awareness. 

— Aiysha Johnson, CEO and executive director, New Jersey Society of CPAs

I would reframe what it means to be a CPA. I think there are some outdated stereotypes out there, and to attract young talent we need to show them all the different opportunities that come with a career in accounting and finance – it's not just a singular or linear path. 

— Kacee Johnson, VP, strategy & innovation, CPA.com

Two primary strategies: Improve private AI automation and expand the tasks assigned to non-certified professionals to support accountants in their work. For example, Data Analytics providing support for financial statements could be completed by a non-CPA.

— Randy Johnston, CEO and founder, EVP, NMGI and K2 Enterprises

I don't think there is a single solution to this issue. The last 20 years have seen significant changes in our profession, including an increased focus on internal controls, offshoring, remote work, compensation and competition for a skilled workforce, and technology advances, all in a highly regulated and evolving environment.  While there is no single solution, we must begin by articulating a vision of the future that is exciting to prospective members of our profession, one that explains why the profession plays such an important role in that future.

— Richard Jones, chair, Financial Accounting Standards Board 

Our profession is growing. What we do matters. Our role and responsibilities have changed a lot over the years. It's not just looking at financial statements and counting numbers. Becoming a CPA opens all kinds of doors, and I always remind people it is also cool and often fun. Having a CPA is an opportunity to have one career with many jobs. Some go on to be CFOs and CEOs. They have great careers all with the backing of a strong foundation around accounting. We need to change the narrative on the possibilities of the profession. 

Having open conversations is the first step. This looks like meeting with students — college and high school — and partnering with universities to talk about what being a CPA really means. Whether it's becoming an entrepreneur or the opportunity to travel and work with clients across the country (and the globe). Investing in comprehensive educational programs is important. They are the foundation for the skills and knowledge needed to succeed in this profession. Practical experience and financial support will help aspiring accountants overcome barriers and gain the skills they need.

Once we get new joiners in the door, we need to keep them. Providing opportunities for advancement — whether it is a promotion or lateral move — is important. Professional development, upskilling and mentorship will help with retention. 

— Kathryn Kaminsky, vice chair - Trust Solutions co-leader, PricewaterhouseCoopers

• I would start by working on changing the narrative that accounting is a "boring" and/or "burnout-bound" profession. If current accountants show excitement and possibilities about the profession, it will generate more interest. At the core, it would start with helping accountants negotiate better for their time, efforts, and resource allocations (soft skills again). Then, it should be highlighted externally via social media and panel discussions at university events for example.
• Highlighting the various paths in the field, beyond becoming partner at a tax or audit firm, would also help, as well as making sure that our starting salaries at par with other fields, such as marketing and IT.

— Wassia Kamon, founder, BeyondCertifications.com

In addition to using innovative technology and outsourced personnel, I think we will see a shift in the administrative metrics with standard processes being transferred from accountants to administrative staff (with professional training and supervision of course)! 

— Roman Kepczyk, director of firm technology strategy, Right Networks

What we see now is largely this trope of an over-extended, exhausted accountant who is a cog in the wheel of their larger organization. When I look around my firm, that's not what I see. I see people who are experimenting with new tools and methods of service delivery. I see people who are given the flexibility of where and when they work which I would not have dreamed of when I started working. I see people who are excited about the work they do, the clients they serve, and the teams they are building and working with. If we are not going out into the world as evangelicals about our profession and the opportunities it provides us, the knowledge it gives us, and the dynamic nature of the work that keeps us as lifelong learners, then, no, we're not going to excite more people to join this profession. Organizations need to consider how they design their employee experience, they need to embrace and celebrate the changes that are here and those that are coming, and they need to help their team members have the tools to excitedly share with the world what they are doing. 

— Courtney Kiss, president, Association for Accounting Marketing 

ET HORA LIBELLUM DELENDA EST 

Eliminate the timesheet! 

— Ed Kless, meta consultant, Sage

Addressing the pipeline issue requires a multi-pronged approach, including removing barriers to passing the CPA exam; demonstrating how the profession is incorporating cutting-edge AI technologies in a way that will produce even more interesting and challenging work; offering competitive compensation and benefits; and expanding the pipeline of diverse talent entering the profession. KPMG has several initiatives and programs to address these areas. For example, our Master of Accounting with Data and Analytics (MADA) program combines learning, funding, and work experience to support upskilling for the increasingly digital accounting profession. 

— Paul Knopp, chair and CEO, KPMG LLP

I would begin by raising the entry level starting compensation and migrate that increase throughout the ranks. I would eliminate the mundane and boring work and use AI/bots, as well as offshoring. Last point is, for superstars, I would accelerate their career path to partnership and eliminate seniority based and/or lock step programs.

— Allan Koltin, CEO, Koltin Consulting Group

There are several tactics we can activate – sponsoring accounting career campaigns as early as middle school into the high school level, and on college campuses through educational sessions, internships, and scholarships.  From a behavior perspective, we need to encourage our professionals to become active industry ambassadors – and share the success stories of individuals that have built a meaningful career in the space.  The industry also needs to spotlight the infusion of technology and automation that has changed the way we do business – with AI, machine learning and innovative methodologies, the future of accounting is brighter than ever.

— Richard Kopelman, CEO and managing partner, Aprio

We need a multi-point strategy that has elements of education, marketing/promotion, and image building.  A few television shows and movies wouldn't hurt either!

— Art Kuesel, president and founder, Kuesel Consulting

Gone are the days of accountants crunching numbers in giant spreadsheets. Today's accountants are strategic advisors to their clients, increasingly leveraging the power of data and technology to ensure companies can thrive. This advisory role is only going to continue to grow, and with that, so too will the accounting profession continue to evolve. Showcasing these exciting changes underway in the profession will continue to be important to helping the pipeline grow – and as a partner for accountants, I'm focused on how we can do our part to celebrate and empower the next generation of accountants and finance professionals.  

— René Lacerte, CEO and founder, Bill

Central to resolving the pipeline problem in accounting is increasing accessibility. We need to open up additional pathways to the profession outside of the standard "CPA route". On campuses and at events, I've met many individuals who are very interested in accounting, but whose economic reality makes taking an extra year of classes to meet the 150 credit hours required for the CPA exam, a difficult choice.  Together as a profession, we can increase the pathways and maintain mobility.  It's not easy, but it's possible. 

We need additional investment in a 360-degree manner: 

• Investments in high school and college/university teachers/professors: we are at an all-time low in this country with Accounting being taught in high school and declining rates at the collegiate level.  We can increase opportunity by providing externships to college professors to sponsor their learning and support. 
• Increase social media presence to combat accounting's image issue. 
• Be proactive in the media sharing WHY accounting is such a great opportunity for a career.  There are so many negative articles being written about our profession, we need to show what's positive about it. 
• Fund scholarships at the State and Federal levels. 
• Finally, there needs to be significant efforts to add AI/Computer Science training to Accounting curriculums and ultimately the CPA exam.  

— Jennifer Leary, CEO, CliftonLarsonAllen

The solution is it is not fixable and once people begin to look at it this way, they can resolve the issue. The supply of incoming CPAs is not going to increase, and the number of exiting CPAs will increase, which will create an even deeper hole. Firms need to diversify their services and deliver ones not dependent on accountants to do, change how they price, leverage technology more and more deeply embrace outsourcing at least for now until the technology catches up. Going into the high schools will be too late and likely not work anyway. 

— Bob Lewis, president, The Visionary Group

Future professionals need to be educated on the earning potential inside the accounting profession. Too many people blame the pipeline problem on education requirements being too cumbersome or the antiquated view of the lifestyle of the "traditional accountant". The earning potential is significant in the accounting world, and future professionals need to be aware of the tremendous financial upside of this career path.

— Doug Lewis, director, The Visionary Group

I've hit on these topics in earlier responses, but ultimately, solving the profession's pipeline problem will require the following key actions: 

1. Connect early and raise awareness: Students are eager to learn but often are not afforded the necessary exposure to pursue their curiosity. Like those of us already in a career, students are influenced by their own networks. If they don't know an accountant, they're less likely to pursue accounting. Students today are also thinking about their career options early in high school. From accounting mentors, to resume prep and scholarship support, we must equip students with tools to take the next step in their career journey and pursue a career in accounting.
2. Leaning on the village: If the diversity gap in the accounting pipeline were an easy challenge to solve, we would have solved it already. This challenge requires collective action by an array of stakeholders – or, as I like to put it, our village. The collective efforts of our coalition to power our work is critical.
3. Learning and re-learning: Finally, we need to keep our fingers on the pulse of students. This is a complex challenge and it won't be solved without talking to the very people we want to join us in accounting.  Research underpins our efforts and continues to inform whether or not we are headed in the right direction. Having a mechanism to measure incremental progress is vital to making sure we're creating the right opportunities for the future of a diverse accounting pipeline. 

— Julie Bell Lindsay, CEO, The Center for Audit Quality

There is no singular fix to the pipeline problem. It's a complex issue that will require multiple solutions from multiple sources. I often hear from CPA firm leadership that they're looking for solutions outside their firm, yet there are so many things they could do to increase the pipeline and improve the branding problem the profession has. To start, firm leaders can focus on getting staff retention right by truly engaging and motivating their team members, inspiring them to what's possible for their careers, personal development, and the difference they can make for their clients. Firm leaders can also create a true sense of purpose and belonging in their firms by including team members at all levels in the change that needs to be made, instead of resisting the business model shifts needed and saying things like, "This is the profession you chose, and the hours required to work it and kind of work you have to do to learn." When leaders elevate their NextGen and empower them to make changes in processes, workflows, automation, technology, pricing, and new client services, leaders will empower the NextGen to want to be part of this profession. When this occurs, NextGen staff will be touting how great their job and firm are to other young people, spreading the word for how great it is to be in public accounting.

There is so much that firms can do that is within their control to attract young people to accounting and the profession. 

— Tamera Loerzel, partner, ConvergenceCoaching LLC 

It might be the height of hubris to suggest I could influence the current employment gap in the US economy but one thing I can try to do on a regular basis is to ensure that we create a collaborative, professional, inclusive, and interesting workplace. People who like working with each other and feel part of a team executing on challenging and stimulating work are less likely to seek opportunities elsewhere. 

— Charles Maniace, VP, regulatory analysis and design, Sovos

The issue of fixing the pipeline is one that did not happen overnight and certainly is not able to be fixed overnight.  It is the result of changes (good and bad) within the Accounting Profession.  It is unfortunate that it has taken until we are at the crisis stage to realize a problem exists and to start looking for answers.  As such, what might have been answers earlier in the game might not be effective in turning the tides.

The perception of salaries, work-life balance, stress or combinations of these and other factors are not simple fixes and when coupled with an inability to recruit staff creates a monumental task.

I have a good working knowledge of the AICPA's action to curb the pipeline.  It is a program that truly can be effective.  As a small firm practitioner, my hope is that this program of having staff complete the balance of the 150 hours while working in a CPA firm will not only be successful but also be able to be implemented within the smaller firm environment.

— Stephen Mankowski, co-chair, National Tax Policy Committee, NCCPAP

Ground zero for this effort is education and exposure. There is clear opportunity to deepen the relationship between accounting firms and universities that have strong accounting programs. Participation in college recruiting days, educating students on the possible career progression, and ability to make a difference in how the engines of commerce operate are all critical to driving interest in the profession. Further, there is a tremendous opportunity to attract a new generation of accounting professionals by ensuring they understand the technological advancements happening in the industry. 

— Jason Marx, president & CEO, Wolters Kluwer Tax and Accounting, North America

The pipeline problem is one of the most critical issues facing the accounting profession today. The number of candidates entering the profession has been declining for several years. This is due to various factors, such as competition from other fields, negative perception of the profession, and starting salary to mention a few. 

However, I believe there is a solution to this problem. The best way to fix the pipeline problem is for each of us (CPAs) to connect with students and young professionals. Research has shown that connecting with CPAs can have a significant impact on increasing interest, awareness, and motivation for pursuing the profession among students and young professionals. Connecting with CPAs can also help dispel myths and stereotypes about the profession and showcase its opportunities and benefits.

I have personally experienced this impact in my past years' experience visiting universities and high schools. I have connected with thousands of students and young professionals across the country and abroad. I have shared my passion and vision for the accounting profession with them. I have seen their curiosity and enthusiasm grow as they learned more about the profession and its potential. I have also stayed in touch with many of them as they pursued their professional goals.

One of the most effective ways to connect with students and young professionals is to share one's story on why they are in the profession and what the profession has done for them. Sharing one's story can help create a personal connection and shed a positive light on the profession. 

We need to seek out opportunities and platforms to reach out, engage, and mentor students and young professionals. We need to leverage our network and influence to promote and advance the profession. We need to work together as a profession to solve this problem.

By connecting with students and young professionals, we can fix the pipeline problem for our profession. We can also influence the future of our profession for the better. This is not only our responsibility but also our privilege as CPAs.

— Anoop Natwar Mehta, immediate past chairman, AICPA & Association of International Certified Professional Accountants

— Barry Melancon, president and CEO, AICPA

This is a serious question and I provided my suggestions in the question about the most important issues facing the accounting profession. I hate to say it, but I've seen this coming and have warned against it in my columns with suggestions on how to avoid the problems we are currently facing and how to fix the current trajectory. Immediately it can be fixed by increases in the starting salaries and firms promoting this.

To provide a specific response, I think aggressive marketing needs to be done with high school students and particularly high school students in predominantly with black students. I would include college freshman in business programs.

— Edward Mendlowitz, emeritus partner, WithumSmith+Brown, PC

Technology and the shift towards advisory services will continue to create interesting and fulfilling opportunities for the profession that I think will be attractive to individuals looking to be innovative and impactful to businesses.  These opportunities, coupled with an effort across the profession (at every level) to reshape the image of what it means to be a CPA and change legacy mindset culture, will help generations entering the workforce think about the practice of accounting differently and draw them to the profession.

— Kalil Merhib, VP, growth & professional services, CPA.com

To fix the pipeline problem of too few people entering the accounting profession, the following strategies can be implemented:

• Promote accounting as a rewarding career: educate students and young professionals about the benefits and opportunities of a career in accounting. Highlight the potential for career growth, job stability and the chance to work in diverse industries.
• Strengthen accounting education: collaborate with educational institutions to enhance accounting programmes and curriculum. Provide practical training and real-world experience to better prepare students for the profession.
• Offer financial incentives: increase benefit offerings to make accounting careers more attractive. Consider offering tuition reimbursement or scholarships to support aspiring accountants in their education journey.
• Foster partnerships with universities and colleges: establish partnerships with educational institutions to create internship programmes, mentorship opportunities and networking events. This can help students gain exposure to the industry and build valuable connections.
• Promote diversity and inclusion: encourage and support underrepresented groups to pursue accounting careers. This not only opens up the talent pool but creates a better culture. Foster an inclusive environment that values diversity and provides equal opportunities for all individuals.
• Utilise technology: leverage technology to streamline accounting tasks and improve efficiency. This can attract tech-savvy individuals who are interested in the intersection of accounting and technology, as well as makes the role more exciting as accountants should be business advisors, not worry about mundane tasks that software can do.

— Elona Mortimer-Zhika, CEO, IRIS Software Group 

As indicated above, as a long-term accounting educator, I am hopeful that enrollments will rebound post pandemic. I am currently collaborating with Calvin Harris, CEO of the NYSSCPA, to organize visits to  local high schools with the support of local firms and chapters to improve the pipeline and promote the  accounting profession. As an accounting educator, I can make a difference by promoting accounting to  students and thereby investing in the future of the accounting profession. 

— Tracey Niemotko, associate professor of accounting, chair of the department of accounting, graduate director, Marist College 

Addressing the pipeline issue of too few people entering the profession requires a two-fold approach. First, I have to be blunt: compensation matters. Despite increases over the past few decades, it must continue to rise to be aligned with the demands and responsibilities of the profession. Second, from a technological perspective, there is a collective need for advancement within both CPA firms and their technology providers. While we are making strides within our own domain, there are still significant opportunities for CPA firms to advance technologically, enabling more efficient client service, collaboration, and relationship-building. This way, individuals entering the profession can concentrate on nurturing client relationships and providing valuable advisory services, ultimately revitalizing the profession.

— Ane Ohm, co-founder and CEO, LeaseCrunch

If I knew the answer to that question, I would sleep much better at night. All joking aside, I go back to the "AND".  

So many factors contribute to the talent challenges we face - demographic (there are just fewer people!), generational differences, economics (cost of education, starting salaries…), structural hurdles, firm culture and business models, awareness and branding of the profession…. honestly, the list could go on and be as nuanced as each person's individual career path.

So the "fix" is just as nuanced. We have a lot of smart, creative, passionate people working on programs, initiatives, research, and solutions. But one of the things that disappoints me the most is the divisive nature that has come out of some of this work. Instead of recognizing the issues and working together, we have sought to highlight the differences in the varied challenges and solutions instead of our commonalities. No one will "win" this talent war or solve this crisis alone.  

We all want the same thing - we just have different ways to get there - and honestly, that's a great thing because it is going to take all of them. It's an AND not an OR, so let's get to work. 

— Rebekah Olson, CEO, Maryland Association of CPAs

Accountancy is seen as an un-sexy career choice, with too much repetitive process work and not enough value-adding application of the insights which accountants have on the drivers of long-term value (or the mechanisms to avoid value erosion). If the CPA profession was to embrace sustainability and the support that CPAs can provide to their firms through a deep understanding of the drivers of long-term value creation, this may reignite interest in the profession and place the CPA at the heart of strategic performance management, decision making and direction. Students and young adults considering a profession in accountancy may be motivated by the prospect of becoming the guardians of truth within an organization and helping ensure that the information which organizations communicate externally is true. No other profession plays this role in maintaining the integrity of the global capital markets and no other profession can help steer entire industries towards the zero or low-carbon economy which is needed if humanity is not to suffer the catastrophic effects of climate change. 

— Jeremy Osborn, global head of sustainability, AICPA & CIMA

For those considering a career within the profession, there are differing priorities at play depending on their demographic cohort. Generation Z tends to seek out flexibility and career growth opportunities while also being values-driven. They care about corporate social responsibility and the impact they have on their professional and wider environments. 

Companies looking to recruit Gen Z must adopt new cloud technologies that allow employees to work more creatively and efficiently. Younger generations do not want to work with desktop accounting solutions. Also, accounting and auditing organizations will want to explore the adoption of advanced technologies such as cloud services, data analytics and business intelligence to appeal to digital natives for whom technology is simply a way of life. 

— Dave Osborne, CEO, Caseware International

Go after those people looking for a second career and show them how working in accounting is an opportunity to change their lives. After teaching for years at the community college, these future professionals have a lot to offer and are too often overlooked by hiring managers and firms because they don't fit the stereotypical intern or first-year hire. Their broad base of other experience is an overlooked opportunity that could make a real difference in firms today.

— Jody Padar, VP of tax strategy & evangelism, April  

One of the main reasons it has become difficult to address the challenge of attracting more individuals to join the profession is because the appeal is diminished due to the less engaging and less lucrative nature of many routine tasks. Docyt is harnessing AI to automate and enhance back-office operations, and significantly reduce manual workloads, thereby improving both accuracy and efficiency. This, in turn, creates opportunities for offering high-value advisory services that are more appealing to the newer generation of professionals. Additionally, with Docyt, we're preparing to launch the Docyt University program, which aims to train the upcoming generation in leveraging Docyt's AI technology to automate and optimize the back-office functions of businesses, making the profession more enticing and future-ready.

— Sugam Pandey, CTO, Docyt Inc

Fixing the talent pipeline problem requires a multi-faceted approach to address various factors contributing to this issue. Some of the key ways in which I would approach to fix the problem are:

• Dispel the myths that technology will make accountants redundant: Accounting "tasks" as they are defined now - and are advertised in job postings by accounting firms - when correlated with predictive researches that point to likely job losses make students see accounting careers to be diminishing. What we need to do as a profession is to aggressively amplify information about the new types of jobs/tasks that accountants will do in future to dispel this misconception that technology will eat away accountants' jobs. The new types of jobs accountants will have because of technological evolution will be highly motivating from a career satisfaction point of view. 
• Intensify efforts to create a better perception of the profession: Dreaded extreme "work" demands that consume the "life" of accountants is a perception that gained strong roots over many years. The life-work balance being skewed in the profession is a fact, but its perception is undoubtedly much bigger than the fact. At the same time, careers in other industries have become more popular than in accounting, leading to a lower influx of new talent in the accounting profession. The core human aspect of the opportunities accountants have for positively impacting people's lives is not adequately visible to young students. We need a relentless focus on creating several "accountant celebrities" to promote awareness of this aspect of accountants' work. This must be done early in the education cycle to introduce students to accounting as a preferred career path.
• Financial and other incentives: Accounting firms need deeper collaboration as a unified profession to provide students with more internship/work-study opportunities. Real-life practical experience can make the profession more attractive, provide valuable skills to the next generation of the incoming workforce, and alleviate the perceptual problems that accounting is a demanding work-life balance choice. 
• Unlock knowledge: Like top educational institutions providing free online access to their top-notch courses, the profession needs to lead in giving online access to in-firm learning knowledge repositories and flexible learning options to accommodate students and early career accountants with various schedules and commitments. This can help reduce the perceptual fears of accounting being a comparatively less rewarding career choice. 
• Advocacy and collaboration: Accountants positively impact the fabric of economic activity by guiding the owners of small to medium-sized businesses (which create a majority of employment in the country) to help their companies survive and thrive. But this vital contribution is not very visible to the masses. I would enhance advocacy to, and collaboration with Government bodies, regulatory entities, financial industry and others to showcase the important impacts accountants deliver. 

— Hitendra Patil, president, global finance and accounting services, Datamatics Business Solutions

Help change the public opinion brand of the profession (not just long hours and tedious work) and start earlier (high school) in reaching future accounting professionals to understand what that brand issue is.  Also, mandatory retiring from all public companies for partners at an earlier age – 60-65.  

— Paul Perry, member, risk advisory and assurance services practice leader, Warren Averett

If I could wave a magic wand, I would instantly make the profession more attractive to prospective students -- which probably means large increases in starting salaries. While earning potential is very high in the profession, starting salaries should be commensurate with the high level of talent and potential young, qualified professionals bring to the collective table.

— Carl Peterson, vice president, small firm interests, Association of International Certified Professional Accountants 

Though I don't have a specific fix for this, what I most frequently hear young people talk about is the horror stories many of them hear about the amount of work associated with tax season. No one talks about the rest of the year, just how horrible tax season is.

— Scott Peterson, VP of U.S. tax policy and government relations, Avalara

1. Raise your prices
2. Pay people more
3. Give more flexibility and balance in their career

Let the AICPA worry about the 150 credit rule.  This is a market problem, not a policy problem. 
— Jeff Phillips, CEO, Padgett Business Services

Obviously, this is a very complex problem. Education and training remains the number one area we need to heighten our focus on as a profession – students are still making the decision to be a part of the profession in the early college years, yet we continue to face a challenge making this amazing profession look alluring and a no-brainer to young people. We desperately need a heightened awareness of how to make the profession more appealing, including an infusion of resources into the academic side of accounting – equipping professors with all they need to attract new generations of accountants. We need to seriously analyze the evidence of whether the 150-hour requirement has merit in today's economy and holds value for the next generation of CPAs – instead of continuing a debate rooted in decades-old evidence. We need to step back and analyze what's being gained by the current 150-hour requirement vs. perhaps more targeted requirements that can be obtained through a myriad of "apprentice" type opportunities. I learned far more relevant accounting and auditing information in my first year of public accounting than I did in my final years of college. Growing mentorship opportunities for young CPAs to network in is also paramount to developing the pipeline at a rate sufficient to support the profession. In my experience, student organizations like Beta Alpha Psi, free membership, and related benefits from the major accounting organizations (IIA, AICPA, IMA, etc.) are part of the solution. State CPA societies are an obvious part of the solution given their grassroots connections and on-the-ground ability to work with colleges and universities.

— Anthony Pugliese, president & CEO, Institute of Internal Auditors

Clearly, we need to get rid of the 150-hour requirement for CPA eligibility. It makes no sense to me that we require an extra 30 hours of college credit without any requirement for what those hours consist of. It is an obvious unnecessary barrier to entry. The profession's starting salaries also are not keeping up with alternative business school degrees that only require 120 hours of college credit. I think we are getting away with lower starting salaries through alternative sources for staff, such as offshoring, but I don't think that is sustainable in the long run. We also need to do a better job of overcoming the profession's reputation as a sweatshop career. Many firms no longer require significant overtime, but young people still think of the profession based on the way it used to be with 80 hour weeks being routine during busy season. 

— Terry Putney, managing director, Whitman Transition Advisors LLC

To make the profession attractive to future accountants, we need better marketing and recruiting efforts beginning in high school and college, as well as improving compensation and showcasing it.

I'll never forget when my roommate in college showed me her pay stub from her full-time (busy season) internship. It had a comma in it! I had never seen a comma on my own pay checks, which helped me decide that public accounting was the place for me. We need to show that pay in accounting keeps pace with other professions, so we're not passed over. 

— Kristen Rampe, managing partner, Rosenberg Associates

We must own and change the narrative regarding our profession and why it is a great field to build a career. We must tell our own stories and help young people better understand what we do and how it is quite different than what they might perceive. If we do not tell our story, others will tell our story for us and there is no one better than your friend, neighbor, local business leader that is working within the profession to share the impact and value of what we do to grow and support firms, businesses, and economies domestically and internationally.

— Okorie Ramsey, chair, AICPA & Association of International Certified Professional Accountants

There is no one quick fix to the pipeline problem.  A variety of efforts by many stakeholder groups (NASBA, AICPA, State Boards, State Societies, AAA, NABA, large and small accounting firms, colleges/universities, etc.) are needed, and for the long-term:  

• Improve the return on investment for the newly-hired accountant by increasing early-career salaries to be competitive with other professions.
• Focus efforts on reducing the cost of education, without diminishing the intended benefits derived from education.  The AICPA/NASBA Experience, Learn, and Earn (ELE) program is an example of such an effort.  We need more such programs.
• Explore other concepts for achieving the 150-hr education requirement, again, without diminishing the intended benefits derived from education.
• Evolve college curriculum to match marketplace needs, providing an exciting educational experience to students and tremendous value for them to offer employers upon graduation.
• Revise the order of college curriculum to "sell the profession" earlier in a student's college career instead of "weeding them out" early in their college career.
• Focus on enhancing the branding of the accounting profession for what it is – THE profession that understands and can speak the language of business, absolutely vital in today's rapidly changing business environment.
• Start "marketing" the profession earlier in a student's educational career, if not in middle school at least in high school.
• Continue efforts to lobby Congress to include accounting as a STEM program, increasing the opportunity for high schools to once again provide accounting as an offered course.
• Convince those already working in the profession to change the narrative to be more positive about the tremendous opportunities offered and less about the hours required, then back up the narrative by focusing on better work/life balance for all those working in the profession.

— Rick Reisig, chair, NASBA

The profession needs a bit of a rebrand. As it stands, we aren't telling the complete story around what the profession can be, and what an AB's role can develop into - both on a big scale and on a smaller scale (e.g., with smaller companies that are full-service shops doing high-end work). Accountants can hone their skills and ultimately become CFOs, or strategic advisors working on their own - both of which are quite appealing to those just starting out. 

But of course, there are certain things we can't rebrand - there are others we simply just need to rework. Take, for instance, the lack of diversity - we need to start from the ground up and make sure every organization, council, etc. looks like the people we're trying to recruit. In order for the profession to be balanced, we need to be balanced. And a lot of that starts with where we're looking for talent - e.g., universities, clubs, etc.

— Ben Richmond, U.S. country manager, Xero 

Three things: 1 - we simply have to begin charging more, sometimes much more, to be able to pay competitively given the many other choices college kids have; 2 – alternative paths to qualifying education (apprenticeships, equivalent time/experience, etc); 3 – massive awareness campaigns for professors and high school teachers/counselors about what being a CPA looks like today vs 20-30 or even 10 years ago. There absolutely are some "old school" firms, but there are also many departures from the miserable "grind" experiences many people had decades ago. Firms of all sizes look and act a lot different today—far from providing just core services, and far from the awful culture some who bias our students, still lament. 

— Michelle Golden River, owner/president, Fore LLC

If we're talking about people taking the CPA exam then we have to shape the  opportunities in a more positive way during early college years. If we are talking  about public accounting overall, which most don't need a license for, then we need  to communicate the opportunity and provide a path to growth through technical  training.

— Darren Root, chief strategist, Rightworks

There is no one cure.  Firms need to pursue many remedies.  Some are:

• Reduce the need for the pipeline by adopting a new operating model in which firms are much more selective which clients they accept and retain, raising prices significantly, all while earning more by working fewer hours.
• Hire non-accounting majors to perform CPA firm work.
• Outsourcing and offshoring.
• Elimination of the self-destructive and failed 150-hour rule.
• Partners need to make the job of a partner more appealing to staff.  Start by working more reasonable hours.  When staff see how much partners work, they are turned off.

— Marc Rosenberg, managing partner and founder, Rosenberg Associates

If I can definitively solve this problem, I'll be the darling of the profession. I can't do that yet, but I do have a few ideas based on my work with firms. 

1. Start educating high school students (and even elementary school students like Schellman does) about the profession. The idea that a career in public accounting is only for folks who love number crunching is keeping a lot of potential candidates out of the profession. We must do a better job educating on the mosaic of opportunities within the profession.
2. Be open to hiring non-CPAs. Our cities are full of talented, dynamic people who can bring extraordinary value and fresh perspective to firms. Some potentially great employees simply have not had the time, resources or interest to get a CPA certification yet. It's a win-win. Firms get well-rounded teams and CPAs can focus on the work that requires a designation.
3. Quit making excuses about not hiring a more diverse slate of employees. There are more people out there to do these jobs than you think, they just might not look like what you expect or be found in the usual hunting grounds. 

— Bonnie Buol Ruszczyk, president, BBR Cos. and Accounting MOVE Project

One of my key goals is to help students, academic institutions and society as a whole understand the work we do as CPAs and how we protect the public interest. Like my professors and leaders before me, I take pride in sharing why the 'P' in CPA is critically important. There is a nobility in the trust we build, the independence we preserve and the confidence we enable for the capital markets. People put their trust in us—to uphold quality, to act with integrity and to do right by them. Enabling financial integrity for "the every person" is the honor of our profession. It is on leaders like myself and my peers to uphold the standards the public expects of us by leading by example—and to show others what an important and rewarding career accounting is. The profession has massively evolved over recent years, especially around technology and data. When we highlight the way we're leading in these growth areas, we can influence career paths and attract new candidates to our profession. Accountants do impactful, purpose-driven work, apply a digital and data-driven mindset, and are helping to build trust and deliver sustained outcomes. It's a career that is relevant, noble, full of opportunity, and the work we do is helping people every day. That's something to be proud of, and it's our duty as leaders to encourage the next generation to join us on this very important path. 

— Tim Ryan, U.S. senior partner, PricewaterhouseCoopers

To address the shortage in the accounting pipeline, it's crucial to recognize the limitations of the 150-hour credit rule for becoming a Certified Public Accountant (CPA). This rule was implemented without adequate consideration for equity, financial barriers, and the time commitments faced by underrepresented communities. To fix this issue, we should embrace diverse pathways to achieving CPA licensure, such as work experience and stackable certifications, in addition to a rigorous examination process. By doing so, we can make the profession more accessible and appealing to a broader range of individuals, including those who might have been deterred by the traditional 150-hour requirement and the additional cost to achieve it.

Moreover, envision a future where transformative initiatives break down financial barriers, champion diversity, provide invaluable mentorship, and ignite a blaze of public awareness about the multitude of avenues into the dynamic world of accounting. Picture a tapestry of opportunity and possibilities, woven together to shape a thriving, inclusive, and vibrant pipeline of future accountants and CPAs.

These strategies aren't just about rectifying underrepresentation; they could become the catalyst for an extraordinary community of accounting professionals in the making. We should prepare to embrace a tomorrow where the world of accounting is not only diverse but also teeming with passionate and engaged individuals committed to shaping the future.

— Guylaine Saint Juste, president & CEO, NABA Inc.

I support the AICPA Pipeline Acceleration Plan. I support the inclusion of accounting in STEM. Accounting and personal finance should be part of the K-12 education. 

We should actively work to get post-secondary education institutions on board with the Pipeline Acceleration Plan. 

We should show accounting students the vast opportunities that exist in the profession and the sense of personal accomplishment to be had. 

— Frank Sands, president, National Association of CPA Practitioners

During a recent AICPA executive roundtable conference, I had a detailed discussion on this topic with the AICPA CEO Barry Melancon. The only way forward is a two-pronged approach: (1) Bringing more automation software (like Docyt AI) that can reduce manual grunt work, thus saving precious human time & relationships for the highest value business advisory, and (2) By training more people in effective methods of using automation software, so that they can scale themselves and service more businesses than currently possible.

At Docyt, we are preparing to launch a training and certification program - Docyt University. This has certifications for expert accountants and beginners alike, in ways & methods of using Artificial Intelligence powered software & workflows so that they don't have to waste time in manual data-entry. Real-time financial reports can drive real-time unit economics-based alerts for any business type, allowing accountants to be proactive in guiding their clients during critical times.

— Sid Saxena, co-founder & CEO, Docyt

We need to create better awareness of the diversity of the service offerings and the highly dynamic roles that accountants serve in the profession today. I take a grass roots approach by guest lecturing and mentoring at both high schools and universities to encourage students to consider an exciting career in public accounting as a means to get students aware, interested, and enthusiastic in pursing, joining, and ultimately flourishing with a career in the accounting profession. 

— Peter Scalise, federal tax credits & incentives practice leader for the Americas, Prager Metis CPAs

As we all know it will take years to fix. We first need to eliminate the 150 hour requirement. Next, we need to create a better value proposition related to compensation- Pay More! And it will also help create a more favorable work-life balance.

— Gary Shamis, CEO, Winding River Consulting

I believe a rebranding of the entire profession is needed. We need to become less CPA-centric and embrace all accounting disciplines as well as non-accounting disciplines. I believe if we show people how important of a role we play in helping people achieve the American Dream and also ensuring that corporate America makes more ethical, mindful decisions, that we can capture not just the mind, but the hearts of the next generation.

— Donny Shimamoto, founder and managing director, IntrapriseTechKnowlogies LLC

We must cultivate relationships with schools, teachers and students who have an interest in our profession, while also showing students focused on business all the incredible opportunities available to them in the accounting industry. 

Earlier in my career, when I was heavily involved in campus recruiting for Grant Thornton, one of my mentors used to tease me after each recruiting cycle, saying "Seth, I can always count on you to bring me someone who is unique."  He knew I enjoyed finding students with an "X factor"; students who don't have the exact major or experience we expect, or students who traveled a different path than what may be expected of them as candidates for our profession. 

I was once one of those students myself: I had a circuitous journey through college, and, at one point, I even questioned whether higher education was right for me. But I was lucky enough to find professors who helped me see how accounting might be a good choice. They helped me see that accounting skills are business skills — and that our field is a great fit for anyone who enjoys problem-solving and working with multiple clients in multiple industries. 

Our industry must also foster more diversity across all demographics, including Pan-Asian, Black and Latinx professionals. Through Grant Thornton's work with several Historically Black Colleges and Universities (HBCUs), as well as the Thurgood Marshall College Fund and the CAQ's Accounting+ initiative, we've met and mentored many future business leaders from diverse backgrounds. Our firm also works with ALPFA (the Association for Latino Professionals for America) and Ascend, North America's largest Pan-Asian professional organization, to advance equity and help young people of color develop business and leadership skills. In short, we're working to create more opportunity and equity, because a more diverse accounting pipeline is a stronger accounting pipeline.

At the same time, it's critical to take care of the people who have already chosen accounting. This includes evolving our benefits as our workplace evolves, to ensure we're meeting the needs of our people. But that's just one piece of the puzzle. It's also incumbent upon us to consistently provide rewarding and meaningful career paths for all of our people. This means moving beyond the apprenticeship model that has defined accounting for many decades, and instead embracing an approach to career development, mentorship and coaching that helps our teammates live out their interests, talents and passions. 

— Seth Siegel, CEO, Grant Thornton

Taking steps to enhance the attractiveness of the profession is critically important for younger generations who can bring in new, diverse skills and are interested in working for purpose and in work/life balance. Future forward practices are taking steps in the right direction through innovation that includes non-traditional pricing, scheduling and ownership models, incorporation of technology, more inclusive hiring practices, and work that is meaningful to generations that value service. 

— Eva Simpson, VP, tax practice & financial planning, Association of International Certified Professional Accountants

Growing the number of people entering the profession will take more than one "fix." Looking holistically at hard demographic and societal trends, we need to think about how to compete with other career opportunities that didn't exist 20 years ago, or even 2 years ago.

Creating a culture within the profession where success/reward isn't based on number of hours worked but on the value of work performed; where flexibility is embraced and the need for work/life balance is a given; where compensation structures reflect changing market trends; where leveraging technology to reduce the amount of tedious, low-value work is the norm; where we understand and communicate the value of the work we do – these are just a few ways we, as a profession, can work together to offset stereotypes that impact our ability to attract people into the profession.  

Another important step is for practitioners to raise awareness, at the middle- and high- school level, about the incredible and varied opportunities a career in accounting offers. Exciting new niche sectors like cannabis and technology areas like blockchain are growing quickly, and traditional accounting areas such as financial forensics offer a wealth of experiences and growth opportunities. Forbes recently cited that 11 percent of Fortune 100 company CEOs have an accounting background, so the potential for mobility cannot be overstated. Sharing these vibrant, real-world stories dispels stereotypes that CPAs work in isolation, just do boring work, aren't collaborative and just need to be really good at math. 

Those are just a few ideas. Addressing the pipeline challenge will require a multi-faceted approach and we can all play a role. But it starts with understanding the generational, societal and market trends and working together to provide a more compelling story. Accounting is an incredible career choice – let's talk about it!

— Lisa Simpson, vice president – firm services, AICPA & CIMA

Make hours more normal as compared to financial institutions that compete with the CPA firms for talent.  Share the vision the AICPA has relating to where CPA firms are and where they are going so it is more than number crunching desk job.

— Joel Sinkin, director, Whitman Transition Advisors

Addressing the pipeline issue is a complicated question that is going to require every facet of the accounting profession to be part of the conversation. These include academic institutions, large public firms, smaller public firms, industry groups, and the various regulatory bodies involved in the profession. Solutions should include addressing the pay gap between accounting roles and other entry level options, the 150-credit hour question, better managing workload expectations (especially busy season), and embracing technology and automation to free up staff time (and allow higher level tasks to be taken on), 

This is not an easy problem to solve, and will require all stakeholders to collaborate, but it's one that is imperative for the profession to address as soon as possible. 

— Sean Stein Smith, accounting working group chair, Wall Street Blockchain Alliance

• Amplify our presence on social media; we need to be where the next generation spends the majority of its time.    
• Building off the social media play, I would leverage social media influencers to help push our messages about the profession and its opportunities.  The younger generation is very motivated by social media influencers. 
• Acknowledge and address the economics of obtaining a college degree and how starting salaries might impact the decisions students make.  The cost of a college education has risen significantly over the last decade and the burden of student loan debt is significant and cannot be ignored.  These factors might influence where students enroll and what majors are attractive to them based on affordability.  By making the profession more attractive and more affordable, the downward trend can be reversed.  To help with the affordability aspect, we must focus on what post-graduate compensation looks like.  If the compensation does not better match the cost of tuition/investment, students will look at other options that provide a better return on their college investment.  

— Scott Spiegel, COO, AICPA & CIMA

By getting 100 more people to do what I do. If young accountants don't see anyone that talks & thinks like they do, they won't feel it's for them.

— Jason Staats, founder, Realize LLC

We believe in being intentional in communicating the benefits of our profession – and understand that it can play a pivotal role in alleviating pipeline challenges by attracting and retaining a diverse and qualified talent pool. 

By raising awareness and addressing potential misconceptions, we can break down barriers to entry. Highlighting the meaningful contributions and positive outcomes that accounting professionals can achieve fosters a sense of purpose and attracts individuals who align with our profession's values.

Secondly, emphasizing the opportunities for professional growth and skill development is crucial. When I meet with accounting students, and prospective new hires, I'm clear about the potential for advancement. Talking about continuous learning, and skill enhancement helps to dispel any perceptions of stagnation. We have seen that prospective candidates are more likely to engage with us – and our profession – with a belief that there are avenues for career progression and ongoing personal development.

— David Stonesifer, CEO, Herbein + Co

I know that one piece of the puzzle will be adoption of technology that increases efficiency, automates mundane and tedious tasks, and promotes the availability of more time for higher value advisory work, allowing firms to attract the next generation to the profession.

— Vsu Subramanian, SVP, Avalara

This problem doesn't have a quick-fix solution – there is no "silver bullet". It necessitates a continual effort to raise awareness about the existence of this profession and the potential for a successful career within it. Additionally, it involves confronting the gaps in professional development that universities currently do not address within their degree programs.

— Andrej Suskavcevic, president and CEO, Financial Executives International and Financial Education & Research Foundation

Money.

— Rick Telberg, founder & CEO, CPA Trendlines Research

The key word in the question is fix.  I'm not sure I would ever consider "fix" to be possible but that is not negative…it's a perspective that the pipeline is a business imperative that has and will continue to be with us.  Since I walked in the door of Arthur Andersen in 1985 the industry has been on a constant mission to fix various aspect of the pipeline:

• Recruiting and retaining more females
• Recruiting and retaining more diversity (minority, DEI efforts, etc.)
• Attracting more technology/data analyst 

All of these are pipeline issues that have been around for a long time.  I think some elements of these, and others will be present in 2043.  That's not a defeated view, it's just to make us realize, we need to keep finding ways to address the changes the industry, the economy, population, reputation, etc. present to us.
It requires innovation:  How do we think differently, applying new ideas and methods to what we are doing?  I think we do this by:

• Defining what we want our reputation to be and being assertive in changing/modifying our brand.
• Getting to the next generation earlier/younger and in a different way.  Understanding generational differences to our advantage
• As articulated in some of my capacity comments, the pipeline issue can be mitigated:
• People:  different talents, experiences, diversity, non-traditional majors
• Technology:  How does technology reduce the need for as many people? 
• Testing our thoughts around the CPA Exam, the hours requirement, etc. that have created some "brand issues"
• Evaluating other perceived barriers to entry that may be more impacting beyond what we currently consider.

— Gary Thomson, managing partner, Thomson Consulting

The most pressing issue is salary and how the profession is lagging when it comes to competing against similar opportunities in other industries. The ability to execute this is complicated and impacts firm economics. But this is an area that will need to be addressed sooner than later to get the talent pipeline excited about investing in their education and become accounting professionals. 

— David Toth, chief growth officer and partner, Winding River Consulting

I strongly believe that the solution to this problem is a multi-faceted approach: 

1. Redefine the output of the work that accounting professionals do. When I interview others about their choice of professions they often talk about the output of their work and what it means to be a part of a profession that produces xyz. For example engineers talk about the cool tech that they can be a part of creating, doctors discuss how they can help people get and stay healthy, marketers discuss the cool marketing campaigns. On the other hand when I talk to accountants they often discuss the technical details of accounting or the steps to complete the task of accounting work. Very few accounting professionals talk about the output/results of our profession so potential accounting professionals struggle to see a bigger picture of what they can be a part of if they became an accounting professional. People want to be apart of something that has impact. 

2. Align the compensation of roles in accounting with the value that we deliver to businesses so we can have attractive compensation levels. Often the attractive compensation packages don't kick in until you are 5+ years into the accounting profession. Often reporting seems a little skewed because we hear stats about average compensation levels of the accounting profession compared to others but those stats may include those with 5+ years of experience which doesn't really help the people who are considering entering the profession. If professionals have other options that seem to fit them better you won't have enough people under five years of experience to keep the profession healthy. 

3. Emphasize the transferable skills that the accounting profession helps you develop. We live in a time where people want options and professional mobility. Accounting is one of the professions that can provide you with the most transferable skill sets so you can effectively move into alternate opportunities. Prospective accounting professionals need to hear about this a lot more.

4. Invite potential accounting professionals to accounting conferences that have a social element. Potential professionals need to see that there is life and enjoyment that happens outside of the technical execution of our jobs. One of the biggest assets for the accounting profession that is not discussed as much is the ease of developing relationships and community within the profession. After surveying other professions, accounting is one that has a very strong sense of community and this is very evident when you attend conferences and events for accountants. 

5. We have to do a better job marketing all of our great selling points: 1)Value of our output. 

2) Path of compensation. 

3) Professional mobility. 

4) Professional community.

— Terrell A. Turner, CEO/founder, TLTurner Group 

Focus on educating students about how rewarding and flexible a career in accounting can be before they decide on a school and profession. 

— Barbara Vanich, chief auditor & director of professional standards, PCAOB

1. Eliminate the 150-hour barrier to entry 

The 150-hour requirement for the CPA designation is a significant deterrent  for many aspiring accountants. This requirement should be abandoned  altogether or reconsidered to make it more flexible, allowing candidates to enter  the profession without such an extensive time and cost commitment. 

2. Rethink the billable hours concept and sell access to knowledge 

The billable hours model in accounting is extremely antiquated and has largely  led to our services being commoditized, as there is little differentiation amongst  firms. CPA firms should shift to focusing more on the quality of solutions and  the value of the access to their knowledge they provide to clients, rather than  merely the quantity of hours worked. This approach would liberate employees  from time-tracking, reduce burnout, improve work-life balance, and encourage  accountants to emphasize their expertise, making the profession more  appealing to everyone. 

3. Create a more equitable compensation system 

Most public accounting firms are structured as partnerships with significant  disparities in compensation between partners and staff. This gap can be  demotivating for entry-level accountants. Implementing a compensation system  that rewards performance and contribution for the value delivered to clients,  rather than relying solely on seniority or partnership status, can be a significant  incentive for talented individuals to join and remain in the profession. 

4. Adopt a 4-day workweek with reasonable workloads 

Long working hours and high stress levels are known issues in the accounting  profession, largely attributable to the billable hours and commodity pricing of  our services noted above. Transitioning to a 4-day workweek with manageable  workloads can significantly improve the work-life balance for accountants,  making the profession more attractive to new entrants.

5. Create opportunities for solopreneurs 

Innovative platforms and communities can be established to empower  accountants to take control of their own professional and work life without  being shackled to the traditional public accounting firms. These platforms can  provide resources, support, and networking opportunities for those who prefer  to work independently or start their own practice. Such initiatives can attract  entrepreneurial-minded individuals to the accounting field and foster diversity  within the profession. 

It is my belief that by incorporating the aforementioned strategies, many of  which we have already embraced at AuditClub, the accounting profession can  become more attractive, inclusive, and adaptable, addressing the pipeline  problem and fostering a diverse and sustainable workforce.

— Chris Vanover, founder & senior chief auditor, CPA Club Inc. 

1. Start early by introducing the myriad possibilities of an accounting career to students at the high school level. Go to places you don't normally go to, reach out in your local community to go to colleges and high schools and educate on the profession and answer questions, dispel myths.
2. Educate the world on the profession's evolving nature – it's not just about numbers anymore but technology, advisory, cybersecurity, ESG and so much more. Real world examples of professionals doing this work in the profession need to be shown more so that students realize it is more than audit and tax.
3. We need to change what we are putting out on social media. If we keep perpetuating doom and gloom, then that is all students see. We need to show the amazing things that innovative firms are doing, all the possibilities there are in this profession and the real-time change that is happening in the workplace between AI and other technology that is creating exciting new opportunities in how we interact and work with clients.

— Amy Vetter, CEO, The B3 Method Institute

I would go back to basics. Accounting and tax functions are unappreciated roles in many companies and some of the job postings in the market today are so unattractive, I wonder if they will ever get filled. For example, I read a job posting today that required the person to have extensive accounting experience in a unique area, a degree and a CPA accreditation, and the job was only paying $50-55k a year. 

Additionally, people want to work for companies that are brand positive – companies that they don't see everyone trashing on Reddit because they don't keep their promises. Millennials aren't interested in free dinners or other perks designed to keep them from ever leaving the office – they expect work-life balance that doesn't include being in the office for 5-days a week and 12-hour workdays. Paying a respectable salary, creating a positive and inclusive culture and offering flexible work schedules are just some of the keys to attracting and retaining high quality employees in the accounting and tax profession.

— Wendy Walker, solutions principal, Sovos

I believe our profession needs a rebranding. The role accountants play is critical to protecting individuals and businesses from financial harm, which should be seen as noble, aspirational, and yes (*gasp*) even exciting. But we unfortunately still struggle to combat the perception of being boring, stodgy or out of date. 

I think appeals to the next generation of professionals need to emphasize the aspects of our profession that too often get missed. My experience is obviously mostly focused on forensic accounting and fraud examination, but to use those as examples, we should be promoting the profession with real-life examples of the kinds of cases forensic accountants do, as well as testimonials from individuals or businesses who were positively impacted by their work. I have taught college-level fraud examination courses and seen first-hand how excited students get when they are exposed to fraud investigations or forensic case studies.  

This rebranding does not have to be limited to the forensic accounting profession, though. Other branches of our profession could similarly emphasize examples of their work saving money or jobs, providing strategic advice to startups or multinational companies, serving in law enforcement, etc. We should also be emphasizing the technological aspects of the profession to appeal to students and young professionals looking for tech-related careers. And finally, given the current state of low entry into our profession, we should be emphasizing the enormous demand (and financial benefits) awaiting those who enter the profession. Frankly speaking, bright young professionals who enter our profession over the next few years are going to have a lot of market power and earning potential. We should be setting our profession apart from other over-saturated professions (such as the legal profession) in that regard. 

I believe that sort of rebranding should be happening at the high school or even middle school level to really take root. We should be supporting the development of accounting-related curricula and model courses at those levels, and in particular accounting-focused student case study competitions to build enthusiasm for the subject in children before they enter college and settle on majors.  

— John Warren, CEO, ACFE

I have already mentioned the things above that I think are of the foremost importance on this issue: being bold, remaining relevant, and being more aggressive in sharing the advantages of our profession. 

I would like to mention a few specific things FORVIS is doing at the micro and macro levels that could serve as a model to help fix the challenging talent pipeline. 

During the pandemic, we all read about people that reassessed their outlook on life. For some, this meant embracing an alternative career structure that allows them to have many experiences during a year, balanced with their commitments for work. Put another way, many people wanted to embrace a "gig economy" work style in their professional life. 

To create a path for these individuals, FORVIS launched its wholly-owned subsidiary Talent Shift, LLC, a gig-work marketplace that matches accounting, tax and advisory professionals with dynamic project opportunities on a fixed-term basis from businesses across various industries and cities.

Also, our Next Evolution of Accounting Resourcefulness (NEAR) program is composed of team members who provide services for the firm's assurance, tax, and consulting practices that are lower risk and sometimes administrative in nature. NEAR creates opportunities for individuals to join a public accounting firm via non-traditional paths and for those who might not otherwise have the chance at an advanced professional career. That includes people attending two-year colleges, or who maybe have taken a non-traditional path but still want to pursue a CPA or other credential in their long-term plans. 

Many of our NEAR team members are students from several Historically Black Colleges and Universities (HBCUs) in the greater High Point, N.C., region where NEAR originated. While some provide seasonal work, other students have the opportunity to earn accounting degrees and join FORVIS as full-time employees. 

At the macro level, FORVIS is working, in conjunction with the AICPA, on a program called Accounting+, which is aiming to introduce the next generation of students to the prospect of accounting careers. I think it's critical for accounting firms such as ours to get involved with these students early in their lives to open them up to any number of career possibilities. We also are heavily investing time, energy, and resources in organizations that give traditionally under-represented groups a platform and a network, such as NABA Inc. and ALPFA. I was able to attend this year's NABA Convention and I was truly impressed by the amount of talent gathered in one place. Our profession is in good shape so long as we make it a welcoming and inclusive environment for all that can benefit from it. 

— Tom Watson, CEO, Forvis

Addressing the pipeline problem in our profession requires a multifaceted approach, a significant component of which involves compensation. Competitive remuneration is crucial in attracting top talent. I would advocate for substantially increased pay scales across all professional levels. This not only incentivizes prospective accountants to join the field but also better reflects the value and expertise that professionals bring to the table.

Additionally, we must reevaluate and recalibrate the pricing of our services. Charging more is not just about improving our bottom line but also a reflection of the value, quality, and precision our services embody. Elevating our fee structure will allow us to invest more in talent development, technology, and other resources, further enhancing the attractiveness and sustainability of the profession.

By realigning compensation and pricing strategies, we can better position the accounting profession as a rewarding and lucrative career choice, thus strengthening the influx of aspiring professionals into the pipeline.

— Jeffrey Weiner, chairman & CEO, Marcum 

Today's generation of new accountants is less likely to stay on one career path or stay with one firm for a long period of time. They change jobs to learn new skills or sometimes just for a different experience. As a profession, we need to create more opportunities for career choice within our firms. Offering a broader range of services enables our staff to stay in the profession while learning new skills and pursuing alternative career paths. Our new ownership and capital structure have enabled us to do just that. And firms need to be technology- forward in everything they do to keep young people engaged in their work. We also need to address compression. It is incompatible with attracting young talent into the profession.

— Charles Weinstein, CEO, Eisner Advisory Group 

When I passed the CPA exam back in 1996 and received my first mailing form the AICPA it included a poster. The saying of that poster was "CPA Never Underestimate the Value". I think we need to focus on that. We need to focus on the value that an accounting degree provides both society and to the individual. To do this we need to have a reality check. 

To conduct this reality check I would change the current 150-hour requirement to be 120 hours plus a yearlong apprenticeship. I would have this apprenticeship be paid at current starting salary levels, and I would incorporate a connection back to the college/university that the student attends to ensure the student is doing what is expected but also that the firm is doing what is expected of them. This path doesn't need to be 4 years of college and then a yearlong apprenticeship. I think it could be something that the student had the option to do together. Give them the option. 

Ultimately the goal of the apprenticeship is a clear understanding form the student of what the value of working in a CPA firm is and allows them to determine if this is something they want to continue with. Doing this will provide real-time feedback on whether or not we are syncing up the value of what CPAs within firm do or not. If a firm has most of its apprentices join the firm, then it tells them the value is right. If it doesn't then their program needs to change. 

— Michael Wherry, co-founder & CEO, Transformity Solutions

A multifaceted approach is essential to address the talent shortage in the accounting industry. For starters, firms should be promoting inclusivity and expanding their recruitment strategies to include nontraditional candidates to diversify the talent set. This includes ensuring that recruitment efforts target different geographical areas, educational backgrounds and cultures as opposed to solely "traditional" backgrounds. By embracing nontraditional candidates, firms will be able to diversify skillsets that go beyond conventional accounting expertise to enhance productivity, public speaking and problem-solving capabilities. It's also crucial to evaluate candidate's values and eagerness to learn to ensure they align with the firm's values and objectives. 

To ensure a seamless transition for nontraditional candidates, firms should provide thorough onboarding processes that are tailored to the unique backgrounds of these individuals. This may include offering educational courses through the firm to keep employees up to date on evolving laws, the latest standards and new technologies.   

Another area firms should focus on is promoting the professional and personal development and well-being of employees. While ensuring the track to success is clear from a goals and objectives standpoint, it's also vital to recognize the importance of employee health and wellness. By fostering a culture that incorporates well-being and a healthy work-life balance, firms will be better positioned to attract and retain top talent.

— Tifphani White-King, partner, national tax practice service line leader, global tax board member, Mazars

We must first change the educational focus from technical, rules-based topics to more practical hands-on experience with real business problems, applied technology, and analytics.  We must attract well-rounded students with strong personal skills who come from diverse backgrounds.  We need to get students more exposure to the Rappers, Youtubers, etc I listed above so they can see where these skills can take them. 

— Geni Whitehouse, president, Information Technology Alliance  

1. Stories resonate. I believe leadership at all firms needs to tell the exceptional stories of the wonderful things they do for their clients, the way they help these clients and how gratifying it is. Not only financially, but personally!
2. I believe as CPA firms embrace additional business advisory services and start to look like a well-rounded multi-disciplinary business consulting organization more people will be attracted.
3. We need to get rid of the fifth-year requirement. Turn it into a one-year mentorship at a CPA firm instead.
4. I believe we cannot be afraid to tell our staff and future staffers how much money we make.
5. We need to shorten the path to partner.
6. We need to increase the base compensation that new entrants in the profession get – let's start at $100,000.
7. We need to create better work – life balance.
8. We need to leverage talent across other college majors, not just accounting. 

— Philip Whitman, CEO, Whitman Transition Advisors 

Addressing the pipeline problem within our profession is not a matter of a single solution; it necessitates a comprehensive approach.  This involves transitioning to advisory services, reforming our compensation systems, reducing overall workload hours, embracing innovation through AI automation and implementing various other strategies.  However, a pivotal issue lies in reshaping the narrative surrounding the accounting profession today.  Traditionally, we have tended to emphasize the long hours, eventual income potential and sporadic client interactions as our selling points.  Frankly, this message fails to inspire interest in our field.  It's time for a shift in perspective.  Let's celebrate our daily significance to clients,  highlight the flexibility of our work hours, showcase our innovative spirit, and underscore the exciting and rewarding life that one can build as an accounting and advisory professional.  

— Sandra Wiley, president, Boomer Consulting Inc.

We have to bring more young people into the field of accounting and encourage greater representation of young people from all backgrounds to see accounting as a path for them. Without them we can't continue to improve audit quality, to uphold the integrity of our markets, and to protect investors.

From the PCAOB's perspective, we are working to do that through our scholarship program. This year, we awarded the highest number of PCAOB scholarships in PCAOB history to help young people enter the field of accounting in history.

But the reality is those efforts can only go so far. The reporting and research are clear that firms need to pay more to compete for talent that is attracted to other types of jobs in the financial industry where they can make more money.

— Erica Williams, chair, PCAOB 

The pipeline challenge is so complex and has so many potential "leak points" that the most essential element to drive growth in the pipeline is UNITY. The Big Four, Major Firms, G400, and smaller practitioners, academia, industry professionals, regulators, and the state societies, institutes and associations that serve the profession must come together to identify top priority solutions and work them together. Listening to each other, leveraging each other's unique expertise, amplifying each other's programs, and really working together – instead of apart –are examples of the unity needed to drive the needed change. "We are only as strong as we are united, as weak as we are divided." JK Rowling.

— Jennifer Wilson, co-founder and partner, ConvergenceCoaching LLC

Fixing the pipeline requires a multi-pronged effort. We need to focus on the image of the profession; raising awareness among high school (or even younger) students of the accounting field and the role of CPA; identifying barriers to entry and resolving them; and supporting firms in advocating for and promoting the CPA. We also need to work collaboratively across the AICPA, state societies, state boards, NASBA and other organizations to resolve the complexity of the profession. Our own complexity translates to the pipeline.

— Cheryl Gravis Wipper, VP, content and communications, Association of International Certified Professional Accountants

This is a million-dollar question. I've been part of a think tank on this issue, I am an editor on a call for research on this issue, and I'm often involved in other conversations on the topic. I don't think there is a "single" answer that solves everything. I think we need to consider multiple avenues including:

• Improve the work of what accountants do in many organizations. Automate the boring work and spend more time on creative, innovative work.
• Enhance the quality of education and training on what it takes to become an accountant. Some classes, especially introductory classes, are boring and its obvious why these classes turn students off from wanting to be an accountant.
• Market the success stories better. Accounting has a lot to offer as a profession and we often let others stereotype what we do rather than create a truer narrative of our profession.
• Explore new talent pools, especially from other countries. All professions are facing the challenges of changing demographics and fewer young people. The profession needs to consider alternative pools of talent, the most abundant of which are in emerging market economies. 
• Improve salary and job prospects. In the past, having a path to a well-paying and prestigious position was sufficient to attract talent to the profession. Students now want to have more immediate returns—especially when they can major in a similarly rigorous areas and receive much higher pay. 

There are other needs to make improvements, but these stick out as the most important. It will take a lot of collaborative effort by all stakeholders to fix the pipeline problem. 
— David Wood, Glenn D. Ardis professor, Brigham Young University

We must change the narrative to a focus on the outcomes we are able to drive, and those outcomes must transcend compliance work (which is perceived to be a utility). An emphasis on financial measurements, though more appealing than compliance, is still not going to address the pipeline issue. To make the profession appealing to college students, advisory must be the defining quality of the profession. We must not be a community of professionals who do accounting work with a layer of advisory. We must be a community of professionals who do advisory with a layer of accountancy. Accounting will be exciting again once people realize that accounting professionals are the protectors of the small business journey, the mentors of small business owners, the guardians of individual wealth and the transformers of lives. This realization must begin from within. Once accountants start driving these transformative outcomes, the rest of the world will clammer to join the cause.

— Joe Woodard, CEO, Woodard

A colleague told me about a recent college visit she attended with her son, who had an interest in majoring in accounting. During a tour of the college of business, they passed a state-of-the-art real-world trading environment, where finance students manage a $1 million long-term investment portfolio. 

The finance department told a compelling story without saying a word. My colleague's son learned that finance is challenging, competitive, technology-driven, and financially rewarding, and that he would be given real-world, hands-on experiences before he even graduates college. He is now interested in majoring in finance. 

To help fix the pipeline, we have to capture attention and action where the decisions are being made. We have to invest in cutting-edge, technology-driven education that challenges and prepares students. And, we have to tell a compelling, hands-on story of what a career in accounting can offer.  The days of "paying your dues" are over and we have to move our profession forward so that our newest professionals feel like they have the opportunity to contribute to success and feel successful from the very start of their career.  

— Candace Wright, chair of the Private Company Council of the Financial Accounting Foundation

There are many reasons people point to as a source of the pipeline problem, but I think the true source is that public accounting isn't a dream job for enough people. I think anyone would go to school for 150 hours and power through busy seasons for their dream job. Why isn't it a dream job? It's too compliance-driven (read: repetitive, sometimes boring), there aren't enough people to meet client demand, paths of career advancement and development are too slow, financial incentives are outdated (low, salary-heavy wages and the long trek to receive a retirement buyout in your 60s/70s), workplace cultures don't engage their employees in the purpose or mission of their work, technology feels obsolete compared to every other part of our lives, and the partnership model of management doesn't result in good leadership or decision making that can trickle down into a better work experience for everyone. 

I am fixing the pipeline problem by creating an entirely new ecosystem in which accountants can build their dream careers. We are using technology and our captive offshore arm to reduce the amount of compliance work accountants have to do. We have a large, dedicated team of professional recruiters that source great talent for our partner firms around the country so there are more hands at the pump. We are investing in learning and development opportunities that accelerate young accountants into a true trusted advisor role (vs. a prep role). We have a modernized path to partnership that allows employees to make more money during their careers (instead of after) with advantaged tax treatment (instead of ordinary income). Our PeopleFirst program ensures that all employees know how their work connects to a greater mission, so that everyone sees the impact they are making for their clients, colleagues, and firms. We're investing in gold-standard technology stacks and AI-driven automation that make work easier. Finally, our leadership development and talent programs help managing partners make the jump to become true CEOs so they can lead their people well and drive business growth, which is the tide that lifts all boats. 

We believe that most accountants prefer working in small and medium-sized firms because the teams are tighter, the client relationships are more intimate, work-life-balance is better, each individual is seen and valued, and the work can be more versatile over time (vs. working in one specialized silo your whole career). But big firms can offer better benefits, higher compensation, a larger cohort of peers, and better training. Ascend is achieving the scale to provide the benefits of a large firm so we can also provide these things to our employees too, but we are a group of regional firms that can offer the associated advantages of being small. By creating the "have your cake and eat it, too" employer, we believe we can revitalize the profession so that people have the trusted advisors they need, and accountants have the careers they want…in fact, that is our promise to the world!

— David Wurtzbacher, founder & CEO, Ascend 

I think more focus should be on alternative options to traditional accounting (federal tax and auditing) jobs and the importance of accounting skills to business roles of all kinds. There is a strong focus in the educational setting on the CPA exam and licensure but not everyone wants to do that.  University accounting programs need to have different paths for those who don't want to be a CPA but do want to be an accountant or have those skills. I also think the states could look at what is required to have either a certificate or a license. For example, I have a Kansas Certificate as I passed the exam there but never qualified to get the license because of the requirements for the license.  I have an Illinois License because the work experience requirements were just that I was supervised by a CPA, and it didn't require me to do certain types of work.  I don't currently (nor have I ever) practiced where I am signing financial statements as a CPA, but as a consultant, the CPA credential is valuable so I maintain my Illinois License.  States could offer alternative paths for certification or licensing that won't alienate those who aren't interested in being a public accounting auditor.

— Diane Yetter, president and founder, Yetter Consulting Services & Sales Tax Institute

My work with the Careers Committee of the NY State Society of CPAs has helped high school students become interested in the accounting profession.  I also regularly post items about the accounting profession on social media to influence all types of audiences in the profession. I think that if firms and the industry with all the deadlines could be less demanding for everyone in the profession, it would be better for work/life balance and also fix the pipeline problem. For example, if Congress would make the tax due date on each taxpayer's birthday, firms would be able to spread the work out evenly throughout the year and would not need to make staff work so much harder during tax time.  

— Steven Zelin, The Singing CPA, managing member, Zelin & Associates CPA