Accounting can open doors to limitless career paths – unlocking rewarding and in-demand jobs across every industry. But the profession continues to grapple with outdated misperceptions and a shrinking talent pool. In 2023, the National Pipeline Advisory Group (NPAG) was formed to help shape a profession-wide strategy to address accounting’s talent shortage.
NPAG’s Accounting Talent Strategy Report explores the latest pipeline data, root causes of the profession’s attrition, potential solutions, and next steps.
NPAG’s recommendations are organized into six equally important themes:
- Make the academic experience more engaging
- Address the time and cost of education
- Grow support for CPA Exam candidates
- Prioritize strategies to expand access for underrepresented groups
- Enhance the employee experience by evolving business models and cultures
- Tell a more compelling story about accounting careers
These are the same themes outlined in NPAG’s draft strategy report, which was released in May 2024. This new report features the latest data on accounting enrollment and relevant research, final results from NPAG’s national survey, and additional context.
A data-driven approach
To ensure any recommendations are grounded in data and reflect input from all stakeholders, NPAG pursued a number of research and outreach activities. In addition to conducting a comprehensive review of existing research, NPAG collected insights from a national pipeline survey, focus groups with state societies and firms, and discussions with professional and regulatory bodies. More than 7,950 students and accounting professionals took the national survey, and more than 1,600 people participated in the focus groups.
This side-by-side snapshot shows some differences between how students and working professionals perceive different solutions. In particular, this chart highlights solutions that 70% or more of students rated as “very effective.”
The report’s appendix includes a summary of NPAG’s approach, as well as raw demographic data from the student and stakeholder surveys.
Next steps
Stakeholders must now identify which initiatives they will prioritize and implement, and how progress will be shared. One venue for driving alignment and accountability will be a September 2024 roundtable convened by the American Accounting Association (AAA), American Institute of CPAs (AICPA), NABA, Inc., and the National Commission on Diversity and Inclusion. Roundtable participants will work to capture key efforts and metrics in a holistic strategic roadmap.
In the meantime, the entire profession is invited to take the Pipeline Pledge – an individual commitment to participate in two activities that have the potential to influence and grow the talent pool. Stay tuned for new initiatives aimed at strengthening the accounting pipeline.