AICPA Supports Strategy to Increase New Accounting Professionals

The governing body of the American Institute of CPAs has endorsed the creation of a national strategy to boost the number of accounting graduates who enter the profession, as well as those who go on to obtain a CPA license. It also directed the organization to lead a united, profession-wide effort to achieve those aims.

Convening for its spring meeting, which concludes tomorrow, the AICPA governing Council passed a resolution that supports the organization’s Pipeline Acceleration Plan, commits to a wide-ranging dialogue on solutions, and emphasizes the need for measurable outcomes and accountability from stakeholders across the profession. Input from those partners, which include accounting firms, state CPA societies, employers, regulators and educators, will be critical.

“We understand the great urgency Council members expressed today on fixing our pipeline issues,” said Susan Coffey, CPA, CGMA, the AICPA’s CEO of public accounting. “We share it. We need a sustained, collaborative approach to broaden the pool of prospective CPA candidates. The path we set today strikes the right balance in moving forward with pipeline fixes that have broad consensus, while allowing deeper engagement on issues that are more challenging.”

The resolution calls for implementation of “a continuous research-driven national pipeline strategy that, among other things, addresses the image of the profession in the eyes of students as well as educational and experience requirements, and outlines short and long-term initiatives and actions that result in measurable outcomes to address the profession’s ongoing and evolving human capital needs and priorities.” It requires regular progress updates at Council sessions, starting in October.

The resolution also specifically endorses the preservation of CPA mobility, a competitive advantage for the profession that allows CPAs to practice across licensing jurisdictions, while considering key components of licensure.

More details about the timing and structure of upcoming pipeline strategy sessions will be shared soon.