The American Institute of CPAs and the Chartered Institute of Management Accountants announced today the launch of the Registered Apprenticeship for Accounting and Finance Associate.
The program will offer an "earn and learn" opportunity to recruit new accounting talent or upskill those in entry-level positions. Apprentices will work directly for the participating organization and receive instruction from the
"The battle for talent is increasing, making the need for more skilled accounting and finance talent even more pressing," Tom Hood, executive vice president of business engagement & growth at the AICPA & CIMA, said in a statement. "How we address the needs of our finance teams today will better position us for tomorrow. Our apprenticeship combines a world-class learning program with mentorship and on-the-job training, which helps employers recruit and grow their own, providing the kind of workplace the 21st century workforce expects — diverse, inclusive, collaborative and innovative."
The aim of the program is to enhance the accounting pipeline amid an ongoing labor shortage. The AICPA and CIMA identified the following key benefits:
- Recruitment: Promotes social mobility by attracting a wider range of candidates sooner.
- Retention: Promotes retention in two ways: 1) Apprentices continue with the employer post-apprenticeship; and 2) incumbent employees are upskilled to enhance or change roles within the employer.
- Career development: Identifies candidates early who then receive accelerated real-world competency-based training. Eligible candidates must be 16 years of age with a high school diploma.
- Earn while you learn: Bridges education and employment.
"The Registered Apprenticeship for Accounting and Finance Associate is a response to market feedback to help recruit entry-level positions and upskill those in these positions to add more value and achieve more mobility," Joanne Fiore, vice president of pipeline and apprenticeships at the AICPA & CIMA, said in a statement. "As fewer people graduate from college and the profession faces a talent pipeline crunch, interest grows in roles that do not require a college degree. It made great sense to utilize our learning and apprenticeship program to assist those in entry level roles to upskill and add value."
The new program is a stackable apprenticeship that is compatible with the AICPA and CIMA's Registered Apprenticeship for Finance Business Partners Program or the Youth Apprenticeship Program.
To learn more about the U.S. apprenticeship programs, contact Joanne Fiore at
