“We can’t find people.” It’s become one of the most repeated sentences in managing partner meetings across the profession, and the data backs up why it’s not just a hiring-cycle complaint.
The Numbers Behind the Shortage
- The number of candidates sitting for the CPA exam has declined more than 30% since 2016
- The AICPA has reported that roughly 75% of its members had reached retirement eligibility by 2020
- The Bureau of Labor Statistics projects more than 120,000 accounting and auditing job openings annually, against roughly 55,000 accounting degrees awarded per year
- CPA-credentialed roles now take an average of 73 days to fill nationally, 41% longer than comparable roles that don’t require the license
The talent shortage is affecting firms of every size—from solo practitioners to national firms. As experienced professionals retire and client expectations continue to grow, firms are increasingly looking for ways to expand capacity without compromising quality or client service.
What’s Driving the Decline
Fewer students choosing accounting as a major, with the steepest drop concentrated in tax and advisory roles specifically, not audit
A wave of retirements outpacing new licensure
The 150-hour education requirement for CPA licensure, effectively a fifth year of school, competing against other high-paying career paths that don’t require it
This is a well-documented, profession-wide structural shift, not a reflection of hiring practices at any individual firm. Every part of the pipeline, from students choosing a major to graduates sitting for the exam, has been shrinking at the same time demand for accounting expertise has grown more complex.
How Firms Are Responding
The profession itself is actively working the supply side. Several state boards have introduced alternative licensure pathways that don’t require the full fifth year of education, and accounting program enrollment has shown signs of stabilization after several years of decline, although rebuilding the CPA talent pipeline will take time.
In the meantime, firms are adapting how they build capacity today:
- Flexible work models to compete for a smaller pool of experienced candidates
- Workflow technology that reduces the routine workload competing for scarce staff time
- Offshore staffing support for the compliance-heavy, high-volume work that doesn’t require a CPA license to execute accurately
Firms treating the shortage as temporary, something that will resolve itself once “a few open roles get filled,” are planning around a pipeline that isn’t refilling at the rate demand requires. Firms building capacity deliberately, before a busy season forces the decision, tend to have more options and better outcomes than those reacting to it.
What Effective Offshore Support Looks Like
The firms getting the most value from offshore staffing treat it as an extension of their existing team, not a separate, disconnected vendor relationship, with consistent staff assigned to the same firm over time, clear workflow integration, and oversight that stays with the firm’s own reviewing CPAs.