CEO’S MESSAGE SUSAN SPEIRS, CPA

Over the last year, the UACPA has been focusing on pipeline issues as they relate to a decrease in accounting majors. Across the nation, we’re seeing a 17% decline in the number of students majoring in accounting. COVID-19 introduced workplace shifts that contributed to a mass exodus of accountants. Recently, the Wall Street Journal reported that more than 300,000 U.S. accountants and auditors have left their jobs over the last two years. The challenge as to why there is a shortage of accounting majors is multifaceted.

While it is true that we have challenges in the salary, culture, and image of the profession, it is interesting to note that many students in secondary schools see AI and robotic processing as a challenge that will make the profession obsolete. Many students who are interested in accounting have analytic minds, as do those who are interested in finance and information systems. As we visit our high schools, the question often comes up as to when the computer is going to replace the need for accountants. As an organization, we continue to become increasingly involved at the high school level so that students can learn about accounting. One of the struggles we navigate is that fewer and fewer high schools teach accounting in the state of Utah. Below are a few ways we strategize getting accounting in front of our high schools:

• STEM — As noted in our last Journal Entry, STEM is a huge factor when it comes to high school students deciding on a major. We’re working with all our universities in the state to obtain STEM recognition for their accounting programs. We continue to work with agencies directly tied to the governor’s office as questions arise regarding our profession and the needed talent. As of publication date, two of eight universities have received the designation.

• FBLA (Future Business Leaders of America) and DECA (Distributive Education Clubs of America)

— We’ve had the opportunity to judge various DECA competitions and participate in FBLA activities. Perhaps there are opportunities for our chapters to become more engaged. We’ve been able to offer volunteers to our school districts through outreach.

• Academy of Finance — We’ve had the opportunity with the Granite School District to work with their Finance Academy in a competition to help students become more aware of our profession. We look forward to additional opportunities next year.

• Student mentoring — As we’ve been able to get our foot into the door with schools around the state, counselors are reaching out to see if students can meet up with CPAs. We’ve had some cool outreach. In April we were able to connect students that have an interest in healthcare accounting as well as theater accounting. We are hoping that our Mentoring Committee will see more opportunities to assist.

We know that the challenges we’re facing now did not pop up overnight. We also know that as they are multifaceted and changing constantly, they will not be resolved overnight. As you peruse the Journal Entry, think of ways you would be willing to help the cause.n