Pipeline update: Perceptions of accounting brighten among students

The perceptions held by high school and early college students about accounting are trending in a positive direction, positioning the profession for an opportunity to continue strengthening the talent pipeline.

Recent research by the Center for Audit Quality (CAQ) found that about two-thirds of nearly 3,500 U.S. high school and college students agreed with the statement, “Accounting is a field where you can add real value at a company/organization.” In each of four demographic groups broken out in Expanding the Accounting Profession Pipeline: 2024 Update, that represents an increase of at least 9 percentage points compared with similar CAQ research three years ago.

Just over half of respondents to the most recent survey agreed that “Accountants have a good/work life balance,” up from about 40% who said the same three years ago.

In all six questions asked about perceptions of accounting in late 2024 and in 2021 — just before the CAQ launched its Accounting+ campaign to increase student awareness of accounting — the percentage of positive responses increased in the four demographic groups (Black, Hispanic, Asian American and Pacific Islander, and White).

Familiarity with accounting has increased among all the groups and most strongly among Hispanics, where it rose to 50% from 37% three years ago.

“This is proof that when we listen, learn, and adapt, we can positively impact the talent pipeline,” Julie Bell Lindsay, CEO of the CAQ, said in a news release.

The CAQ is affiliated with the AICPA.

A recent report found a 12% increase in undergraduate enrollment in college accounting programs for the 2024 fall semester compared with the previous year.

About 40% of respondents to the CAQ survey said their high school provided access to an introductory or principles of accounting class. Among those without access to such a class, more than 45% said they would be very interested or somewhat interested in such a class.

That’s important because survey respondents listed “a class” as having the second-greatest influence on career choices. The AICPA has put its support behind a bipartisan bill in Congress that would add accounting to STEM education programs.

The most popular influencer of career choices was “an adult family member or adult mentor in my community.” While less than 40% of students in the new CAQ research said they personally knew someone who works in accounting, the research three years ago found that such connections can be crucial, as 76% of accounting majors/minors personally knew an accountant.

AICPA & CIMA MEMBER RESOURCES

• The AICPA’s CPA Pipeline Toolkit
• The National Pipeline Advisory Group’s Accounting Talent Strategy Report

— To comment on this article or to suggest an idea for another article, contact Bryan Strickland at Bryan.Strickland@aicpa-cima.com.