CEO Outlook | Summer 2024
We Can Fix the CPA Pipeline
Armed with new insights, I’m confident stakeholders can align on how to restore the talent pipeline and chart a path forward for the next generation of CPAs.
Geoffrey Brown, CAE
President and CEO, Illinois CPA Society
Insights From Your President and CEO
For several years, the accounting and finance profession has been appropriately concerned about the future of its talent pipeline. Those feelings have driven investments in research and a much-needed, ecosystem-wide dialogue on how to address the impact on the supply and demand of certified public accountants (CPAs).
We’re at a crossroads. Demand for accounting and finance professionals (particularly CPAs) is strong—it’s time we align on how to restore the talent pipeline and chart the path forward. No single solution alone will solve the CPA profession’s human capital challenges, which means we must think big and commit to taking the steps that’ll help turn things around. The colleges and universities that educate the next generation of accounting and finance professionals, the firms and businesses that employ them, and the professional organizations that support their ongoing development all have important roles in building a robust, sustainable talent pipeline.
I’m encouraged by the profession’s focus on identifying the approaches necessary to help stem the tide and, ultimately, right the negative talent trend we’re collectively facing. For example, stakeholders are working to reimagine the experience of new accounting students and young professionals, create more flexibility and accessibility in CPA licensure pathways and, most importantly, raise awareness of the wide range of career opportunities in the accounting profession to inspire young people to pursue them.
As you can imagine, the next generation has thoughts that we must consider as we look to the future. In reviewing our latest research findings from the Insight Special Feature, “Re-Decoding the Decline: An Updated CPA Pipeline Report,” we know many of them see professional and reputational value in the CPA credential, but they also want to do relevant work that allows them to leverage the skills they’re bringing to the table.
I believe the future of the CPA profession rests squarely on the shoulders of today’s professionals. We have a responsibility to help steward the next generation’s experience:
- We need to showcase that the lifetime benefits of the CPA credential are worth the time to acquire it.
- We need to listen and be responsive to the next generation’s needs by valuing their time and helping them make the most of it.
- We need to use the insights gleaned from all the recent research available to influence resources and support for aspiring CPAs.
Armed with new insight and a commitment to the future, I’m confident that our professional community will be able to think big about the CPA credential’s long-term relevance and value and, ultimately, drive change that boosts the talent pipeline.
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