The American Institute of CPAs (AICPA) has released a biennial report that indicates a “strong” hiring forecast for accounting firms.
According to the report, 75% of firms that brought on new employees in 2024 are expected to maintain or increase their recruitment levels in 2025.
The study examines trends in accounting education, CPA Exam participation, and the demand for new hires within the accounting sector.
Data from the report indicates that in 2024, public accounting firms onboarded 11,985 new graduates.
However, due to a limited response from firms, this figure does not confidently represent the total number of hires across the US.
Among these hires, three-quarters held degrees in accounting.
Looking ahead, the same proportion of firms—75%—expect to hire an equivalent or greater number of staff in 2025, with only a minority of 18% predicting a reduction in hiring.
The report also sheds light on the challenges facing the production of new accounting talent.
There has been a decline in the number of accounting graduates, with 55,152 students obtaining bachelor’s or master’s degrees in the field during the 2023-24 academic year.
This represents a 6.6% decrease from the year prior, although the rate of decline has slowed compared to previous years.
On a positive note, the initial half of the 2025 testing year witnessed an uptick in CPA Exam candidates, with 16,448 new entrants.
Efforts to strengthen the accounting workforce are ongoing, with the AICPA spearheading various initiatives aimed at enhancing student engagement, reducing barriers to CPA Exam completion, and rejuvenating accounting education through faculty development programs.
The report stated: “The collective efforts by multiple stakeholders to strengthen the pipeline are making an impact,” adding that “but sustaining momentum is crucial.”
“While we continue to see a contraction in the supply of accounting graduates, it’s encouraging the rate of decline has slowed year over year,” said Jan Taylor, CPA, the AICPA’s academic-in-residence. “That suggests some of the initiatives the profession has pursued in recent years are starting to have an effect. We’ve seen an increase in entry-level pay, more objective narratives about opportunities in the profession, and a renewed commitment to reduce some of the costs and administrative hurdles to becoming a CPA.”
Meanwhile, the AICPA has introduced Josi, an AI-powered tool designed to provide access to the institute’s professional standards and guidance.
This tool, based on a Large Language Model, aims to streamline research and support learning while ensuring the reliability of information sourced from the AICPA’s curated online library.
