More accountants are leaving the field than joining. What’s going on? | Kelly Richmond Pope

More CPAs are retiring than are joining the field. What’s going on? Forensic accountant Kelly Richmond Pope explains.

Imagine a world without accountants – it's not as distant as you think. Over 300,000 accountants have left the field in the past two years, and fewer students are pursuing accounting majors or the CPA exam.

Forensic accountant Kelly Richmond Pope explores this alarming decline in interest in accounting. Pope believes the difficulty and cost of getting an accounting degree have drawn prospective students away, along with shifting career interests driven by social media, ESG, cybersecurity, and IT.

However, some changes could attract new learners and, thus, save the field. Pope shares a few ideas for how to revitalize a very necessary profession.

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About Kelly Richmond Pope

Dr. Kelly Richmond Pope is the Dr. Barry Jay Epstein Endowed Professor of Accounting at DePaul University in Chicago, IL. Pope is a nationally recognized expert in risk, forensic accounting, and white-collar crime research, and an award-winning educator, researcher, author, and award-winning documentary filmmaker. She’s the author of Fool Me Once: Scams, Stories, and Secrets from the Trillion Dollar Fraud Industry (Harvard Business Review Press, March 2023). Pope teaches managerial and forensic accounting both at the undergraduate and graduate level.

[Valdrex]

We work a shitload of hours, the work isn't all that interesting and the pay is just ok.

[ryandragunat]

I'm a CPA. I'm hoping and praying the trend continues. Hopefully this decline in supply partially offsets that decline in demand caused by continuously improving accounting software. It's already putting a lot of accountants out of work. I could see a future AI mastering accounting principles relatively easily, since they are logic based.

[Malcolmcampbell]

My best friend worked at a big accounting firm for a year. He worked 70+ hours a week and got no sleep. His hair literally turned grey, he lost 30ish pounds and hated his life. That one year aged him a decade. Fuck accounting

[bookcreator]

My mom is an accountant. She said she wouldn’t pay for our (my sister and I) college if we majored in accounting

[siemprefreshshsh]

Accounting is definitely one the field that is chaging the most rn. but no matter how much it changes it will remain be a job that you have to put on crazy hours, that don't excite or motivate you. More young people nowadays don't care that much about the money like 10-20 years ago they more focused on doing something of value (that they consider valuable) so that they can have a more enjoyable and graceful life. And to be honest, they're totally right, that should be everybody's goal.

[ThePolarSunlight]

So many misguided comments on this video. The accounting field is vast and covers many essential roles in business. Only a small portion of these jobs can be replaced by accounting software or artificial intelligence. The day-to-day of accountants involves judgement, estimates, and interaction with clients. The work being replaced by technological processes only covers a small portion of people leaving the field.

[dennismsanquini]

I got my degree in accounting and skipped the public accounting/CPA route thankfully. I work as a mid-level construction project accountant for a big real estate developer. There is no way the tasks of my job can be done by a robot. And none of my mgrs ever worked in public or got CPA and make well in the six figures. However, this is one specific niche of accounting. I'm just glad I fell into this instead of audit or tax at a firm.

[jodygotyourgirlngone]

Someone once told me they didnt realize how hard they had to work to get their certifications only to be told to lie every day in the numbers.

[coolbreeze]

I know people who have started their own business but are horrible with finances. They hired an accountant but get mad at the accountant when he makes recommendations based on the numbers lol I can see how a job in accounting and finance can be frustrating

[jwjknorr]

The pay stinks and we work too much. Even a firm or business that considers it pay good isn’t enough. Mean while ups drivers get 170k?? Firms are reluctant to increase rates yet you’ll pay a plumber 500 for less than an hours work. It’s ok to say you’re paying for years of experience to a carpenter that finishes his work in a day and charges 10k but people complain when they pay 300 for a tax return. If I did it all over again I’d definitely go into IT or Programing. We have no respect, struggle to get by, and the requirements for our profession are higher then most. None of it adds up.

[NelsonGuedes]

LOL! I fucking LOVE this! I graduated in accounting. In 2007. I got my first job in Vancouver, moved there with my baby and my pregnant wife and was about to start working as an accountant for some good money. Life was great. But then the credit crisis hit. The company I was going to work for went bankrupt, so I never even got started. I tried to get another accounting job but couldn't find anyone because more companies were going bankrupt and there were no openings for accounting jobs anymore. I lost everything. To this day my family struggles with poverty and a lot of problems because of the credit crisis, which was partially caused by some grossly unethical accountants. So fuck this world and this profession that completely excluded me and my family! Have fun with the mess.

[sartainja]

The pay is 💩. The work is boring. The job has no respect. Do not go into accounting. Say this as a 57 year old fellow with two accounting degrees, three certificates, and 35 years of experience.

[anonymousconflict]

I think 95% of CPAs just wouldn’t recommend this profession to young people. I definitely wouldn’t. It’s a good way to guarantee a job, but it’s not really a good life relative to other choices that pay just as much or more and require less work.

[Oolliwan]

I understand the incentives to be an accountant. Direct career path out of college, good pay, minimal math compared to STEM fields. But damn does it seem soul draining. I don't think any kid says "I want to be an accountant one day!!"

I'd imagine this is the crux of the issue for a generation who's obsessed with purpose/self actualization

[georgeroth]

I stumbled into accounting and have so far stayed bc it showed me what starting my own company would look like. In my last year of school for context

[antwankeenan]

I am an Accounting major and imo I believe the 150 hour rule is not the biggest hindrance. I believe it is pay along with the testing format for the CPA exam and other certifications we can pursue. I believe if you pay accountants on the level of lawyers who also work ling hours in a client facing industry with just as much significance while streamlining the certification testing things will start to change.

[madbug]

I left accounting for IT 35 years ago. It was the best decision that I ever made. I make 25 percent more as a software tester than if I stayed in accounting. Accounting will be performed by A.I. that is why a lot of people are bailing from the profession.

[idontknow]

After working 5 yrs as an accountant and with a bachelor degree in accounting. I have worked in multiple private owned companies but it really sucks and I did not find my passion and myself in accounting now I just quit my job and looking for another career.

[akirakongouji]

I'm hoping this is a sign; I'm about to take my last CPA exam in a few hours. :D

[alexeyrodokanakis]

Engineering, Architecture and medicine have post qualification practical hours and a prerequisite to certification as a standard practice. Accountants are not alone. Professional exposure and experience prior to certification is an important part of building expertise and networks