Concerns about recruiting difficulties in the accounting field are mounting. Reports from accounting organizations and employers indicate a thinning pipeline of new professionals. The Bureau of Labor Statistics anticipates an average of 124,200 job openings for accountants and auditors annually from 2024 to 2034. This growth rate is expected to be about 5 percent over the decade.
However, many of these openings are due to replacing retirees or those changing careers, rather than new job creation. The diminishing number of students taking the CPA exam highlights the problem further. Firms are noticing the impact of unfilled positions on their workloads and client services.
States are responding by revising rules for CPA licensure. Texas, on August 1, became the latest to offer alternatives to the traditional 150-credit-hour requirement, joining other states in this initiative. These state reforms aim to facilitate aspiring accountants’ journey, but they do not address the broader issue of starting the pipeline.
The shortage calls for federal intervention. Members of Congress introduced the bipartisan Accounting STEM Pursuit Act to tackle this issue. The bill was presented in the House in April 2025 by Reps. Young Kim and Haley Stevens and in the Senate in February 2026 by Sens. Susan Collins and Jacky Rosen. Yet, public records through July 2026 indicate no further progress.
The act proposes adding accounting education to the eligible uses of the Student Support and Academic Enrichment grants. This inclusion would focus on underrepresented student groups, providing school districts federally authorized support for accounting education, internships, and mentorships alongside existing STEM programs.
“Modern accounting increasingly incorporates data analytics, automated audit procedures, information systems, and artificial intelligence—all closely aligned with mathematics and technology,” the bill’s proponents state.
A Harris Poll for the American Institute of CPAs showed significant public support, with 74 percent agreeing that accounting courses should be part of STEM education. This broad support is rare in education policy matters.
The bill does not create new federal programs or require new funding. It extends existing grant uses, allowing schools the option to allocate funds for accounting education, thereby enhancing career awareness without detracting from other subjects.
The integration of technology into accounting underscores the need for federal education policies to evolve. Recognizing accounting’s technological advancements is crucial. The Accounting STEM Pursuit Act represents a balanced approach to this need.
Jorge Lemus Encalada, an economics and law professor at the University of Illinois at Urbana-Champaign, highlights the intersection of technology and accounting, emphasizing the importance of early exposure to the field.