Episode description

This week, we're diving into a well known, critical issue gripping our profession: the shortage of CPAs. It's a widespread challenge impacting businesses, causing staffing gaps, burnout, and compromised client service. The scarcity of expertise has escalated workloads, hindered recruitment and retention, and even led some firms to decline work due to insufficient manpower. To combat this, many organizations are resorting to measures like increasing compensation and offering more flexible work arrangements. The profession is undergoing a transformation to adapt and survive.

The ramifications extend beyond the accounting realm, influencing how businesses operate at large. Solutions are being sought across various fronts, including regulation, education, and cultural shifts. At the forefront of these discussions is our guest, Lexy Kessler, Mid-Atlantic Regional Leader and Partner at Aprio as well as a former chair of MACPA Board of Directors, who now chairs the National Pipeline Advisory Group. This group is spearheading efforts to formulate a unified strategy to address the talent shortage, leveraging unbiased research and stakeholder input. They've launched a national survey to gather insights and ideas for tackling this issue head-on. In our conversation, we delve into the progress of this initiative, its timeline, potential outcomes, and the individual CPA's role in bolstering the pipeline

Resources:

• Financial Executive International article, "Navigating the Accounting Talent Shortage: Strategies for Business Growth and Efficiency" by Justin Smith
• Forbes article, "Accountants Are Turning Away Work—Hurting Firms And Small Businesses" by Hitendra Patil
• CFO Dive article, "Auditors say accountant shortage ramps up work pressure: CAQ" by Jim Tyson
• Lexy Kessler, CPA, CGMA, Mid-Atlantic Regional Leader & Partner at Aprio
• Lexy Kessler LinkedIn Profile
• National Pipeline Advisory Group: Pipeline Survey