Exploring Solutions to the Accounting Talent Shortage with Jen Cryder, CEO at PICPA
The Accounting Podcast
The Accounting Talent Shortage and its Impact on Small Firms
This chapter explores the accounting talent shortage, particularly the difficulties faced by small accounting firms in finding young CPAs to take over and deliver quality work to clients. It also connects the shortage to deficient audits and emphasizes the importance of maintaining trust in the profession.
Jen Cryder, CEO of the Pennsylvania Institute of Certified Public Accountants, joins Blake and David to discuss the accounting profession's pipeline problems, including the decline in accounting majors and the difficulties of replacing retiring CPAs. Join the discussion on solutions like work-and-learn models and redefining education requirements. Discover strategies to attract and retain talent, prioritizing the preferences of younger generations and aligning company culture with marketing efforts. Tune in to learn how accounting firms can refresh their image and flourish.
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Chapters
- (00:00) - Preview: Not getting a Big 4 offer was the best thing to ever happen to me
- (00:48) - Welcome Jen Cryder to the show and her overall thoughts on the accounting talent shortage and pipeline problem
- (06:19) - What are your thoughts on Tulane's new professional advancement program?
- (13:28) - Are substantial equivalency and mobility really a roadblock?
- (18:45) - Smaller firms are the ones really impacted by this talent shortage
- (20:04) - PCAOB says 40 percent of 2022 audits are deficient
- (24:35) - What are the things younger accountants are really complaining about?
- (30:34) - CPA firms hike starting salaries 14%
- (32:32) - How do we encourage young people to go into the accounting profession?
- (38:55) - Does accounting have more of a retention problem than a pipeline problem?
- (47:12) - Accounting firms need to think of more creative ways to recruit
- (50:23) - Remember to subscribe to The Accounting Podcast and where to reach Jen
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Show Notes
Unveiling CalCPA’s New Brand
https://www.youtube.com/watch?v=diGVHSgDpU0
Tax and Accounting Pay Advancing at 5.9% Pace
https://cpatrendlines.com/2023/08/08/tax-and-accounting-pay-advancing-at-5-9-pace/
AICPA, NASBA team with Tulane to ease CPA licensing | Accounting Today
https://www.accountingtoday.com/news/aicpa-nasba-team-with-tulane-to-ease-cpa-licensing
CPA firms facing talent shortage hike starting salaries 14% | CFO Dive
Pennsylvania CPAs try out work-and-learn model for young accountants | Accounting Today
Connect with Our Guest, Jen Cryder
LinkedIn: https://www.linkedin.com/in/jencryder/
Get in Touch
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The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
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