News & Updates

The world is changing fast. Should the qualifications to become a CPA change too? The VSCPA is introducing legislation in 2025 to add an additional pathway to become a CPA.

The pool of accounting graduates continues to shrink, according to the biennial 2023 Trends report from the American Institute of CPAs (AICPA), “A Report on Accounting Education, the CPA Exam and Public Accounting Firms’ Hiring of Recent Graduates.” However, colleges and universities are projecting enrollment will flat line or increase slightly this academic year, providing a bright spot in the data.

The word “pipeline” is everywhere these days, but what do we really mean by that? Essentially, the CPA pipeline is the queue of next-gen accountants — beginning with students’ piqued interest in accounting in middle school all the way through young professionals deciding to stick with the profession long term.

It's often said that earning the certified public accountant (CPA) credential opens doors and creates new opportunities for those that pursue it. Whether providing more earning potential, job security, credibility with clients, or opportunities to pursue more unique business niches, most CPAs will say that the license has changed their lives for the better. Perhaps, this is even more so for CPAs whose career paths began outside the United States.

For nearly the past two decades, prospective CPAs in Virginia have had to undertake 150 hours of education before becoming licensed. But a declining CPA pipeline has accountants asking: Is the 150 now a barrier to becoming a CPA? Is it time to reimagine how we prepare CPAs for an increasingly evolving profession?