Since joining interVal and re-engaging with the accounting world after a decade in marketing, I’ve been disheartened to learn about the steady decline in accounting program enrolment and CPA exam participation. At AICPA Engage, it was startling to hear that only 1 in 19 business students pursue accounting as a specialization, with even fewer making it through the CPA process.
Looking back, I owe much of my career success to earning my CPA designation. It wasn’t just about gaining a credential—it was about acquiring a toolkit of skills that propelled me forward. I stayed in public accounting for seven years, longer than most, because of the constant exposure to new learning opportunities. Instead of paying for an MBA, I was paid to work and learn the same valuable lessons. On top of that, I did co-op placements during university (typical for accounting), earning money while gaining experience and virtually guaranteeing a job post-graduation. You don’t need to be an accountant to know—that’s a smart investment.
So, it’s puzzling on the surface why the profession struggles to attract talent. However, after talking to firms, it’s clear that there’s an expectation gap between the ‘old guard’ and the ‘new guard’ entering the field.
I’ve seen a similar dynamic play out in marketing over the past decade as traditional leaders hesitantly adapted to the digital-first mindset of up-and-coming talent. Drawing from that experience, I have a few thoughts on how the CPA designation can evolve to attract new members.
First and foremost, the CPA designation has a branding issue.
As someone who’s been surrounded by marketers, I can tell you—beyond the old stereotype of the ‘bean counter’ in a green visor, there’s a perception problem tied to the culture of overwork. It’s almost been a badge of honor to work excessive hours, with open complaints about the grind but a secret pride in surviving it. You’d hear people in the office boasting, “I worked 70 hours last week” or “I brought a sleeping bag to the client’s office.” It was a toxic cycle that fed into itself: fewer people entering the profession meant more work for those who stayed, which led to more complaints and burnout.
Breaking this cycle is crucial.
It starts by fully embracing technology to increase revenue per headcount, building more margin into the business. This also means moving away from hourly billing and focusing on value-based pricing. Firms shouldn’t feel pressured to pass tech-enabled savings onto clients in a race to the bottom. There’s a shortage of talent in the profession, so we must maintain premium pricing—or even raise it.
The accounting industry is primed to lead in innovation. The field involves many repeatable tasks and vast data sets that need to be ingested, analyzed, and acted upon. There’s a future where accountants serve as the ‘human in the loop’ for AI-enabled engagements, leveraging technology to elevate the profession.
This shift will make the profession more attractive to the next generation, who will be drawn to the opportunity to tell stories through numbers. Accountants won’t just ensure compliance with assurance and tax—they’ll help clients grow by marrying quantitative data with qualitative insights, client conversations, and industry experience.
And as for the ‘old guard’—those who are beginning to phase out of the profession—they possess decades of lived experience. They’ve witnessed economic cycles, company successes and failures, and the evolution of technology. It’s vital that we bring new CPAs into the fold now, so they can learn from this wealth of knowledge before it’s gone. That kind of experience will be critical in helping the next generation make informed assessments as technology continues to automate the more routine aspects of accounting.
Let’s change the narrative.
Let’s embrace the technological transformation within accounting, celebrate the success stories we help create for our clients, and highlight the unparalleled career development opportunities that come with being a CPA.
Author: Dave Bunce, CA, CPA