The accounting talent pipeline is narrowing at a troubling rate. As baby boomers retire, fewer college students opt into the profession, creating a widening gap in the number of CPAs.

In my latest Firm of the Future article, I share insights from a recent podcast interview with Jen Cryder, CEO of the Pennsylvania Institute of CPAs. She describes a profession facing urgent questions about its future workforce.

Here are Cryder’s key points:

• Demographic trends mean increasing accounting graduate numbers alone won't fix the problem.

• Attempting to change licensure laws state-by-state could take decades. Alternative pathways like work-learn programs may be faster options.

• Conventional wisdom pushes students toward Big Four firms. However, regional firms can provide superior work-life balance.

• Firms feeling the talent pinch may need to confront issues like high workloads and poor work-life balance

• The profession needs more comprehensive data and collaboration to develop solutions.

This issue represents a crucial challenge for the accounting profession in the years ahead. How firms, educators, and licensing bodies respond may determine the future makeup of the CPA workforce.

You can read the full article for more details.