Could a STEM Designation Help the Accounting Workforce Shortage?

The US is facing a shortage of accountants in the workforce, with numerous positions going unfilled every year. The number of college graduates earning a bachelor’s or master’s degree in accounting and the number of graduates sitting for the CPA Exam has also declined in recent years. The AICPA created an advisory group to help shape a national strategy to address the talent shortage, and one potential strategy is for accounting curricula to earn a STEM (science, technology, engineering, and mathematics) designation. Many believe a STEM designation would attract more international students to this field of study and help alleviate the shortage of qualified accounting professionals.