Everyone loves a great comeback and the accounting profession is having one. The profession is evolving, and its perceived decline could not be further from reality. At the Lubin School of Business at Pace University (this author’s institution and home to one of the oldest accounting programs in New York City) there has been a significant increase in students selecting a major in accounting.
This trend is not isolated. According to the AICPA’s 2023 Trends Report, 75% of bachelor’s programs and 78% of master’s programs expected enrollment in 2023–24 to remain the same or increase compared to prior years (https://www.nysscpa.org/2023-trends). That optimism has proven well-founded. The National Student Clearinghouse Research Center reported a 12% increase in undergraduate accounting enrollment compared to fall 2023 (https://tinyurl.com/3w633d53). This represents nearly 28,700 additional students in accounting programs nationwide.
Furthermore, in the same AICPA 2023 Trends Report, 91% of public accounting firms surveyed expected to hire the same or more accounting graduates in the coming year, signaling strong demand for new talent across the industry. This demand is being met with enthusiasm, as students increasingly recognize that the profession provides both a transformative role and long-term value.
Transformative Role
Rapid advancements in automation, machine learning, and artificial intelligence (AI) are transforming traditional accounting roles, making them more dynamic and strategic. According to the 2025 CPA.com AI in Accounting Report, CPA firms are increasingly adopting AI not just for automation, but to redesign workflows and enhance strategic advisory services (https://marketing.cpa.com/2025-AI-Report). This shift is reflected in most accounting curriculums, which now emphasize the integration of technology and strategic thinking to prepare students for these evolving roles.
Future accountants will leverage data analytics, AI, and predictive analytics to optimize financial processes. They are being trained to use data visualization tools to identify trends and anomalies, making financial analysis more efficient and insightful. A 2024 study in the World Journal of Advanced Research and Reviews found that AI is enabling accountants to shift from routine tasks to higher-value analytical work by improving the accuracy and efficiency of financial reporting and enabling predictive analytics for strategic decision-making (https://tinyurl.com/p7m2kns8).
The next generation of accountants will expand their focus beyond traditional financial data to include nonfinancial elements such as environmental, social, and governance (ESG) factors, cybersecurity, and other emerging areas. Accountants must now adapt to the evolving demands of stakeholders and regulatory bodies, ensuring they remain relevant in a rapidly changing business environment.
Long-Term Value
Many students also recognize the value and opportunities within accounting and are returning to the field for those reasons. One of the most significant draws is earning potential. According to the US Bureau of Labor Statistics, the median annual wage for accountants and auditors was $81,680 in 2024, well above the national median of $49,500 for all occupations (https://tinyurl.com/3akvm2xr). Top earners can make over a million dollars annually, including salary, bonuses, and significant benefits.
The field of accounting offers remarkable versatility. From auditing and tax to management consulting and forensic accounting, graduates can pursue careers in industry, technology, investment banking, wealth management, mergers and acquisitions, federal law enforcement (e.g., FBI, CIA), and legal studies. According to the Center for Audit Quality’s (CAQ) 2024 Accounting+ Annual Report, students increasingly view accounting as a launchpad for diverse career paths, as well as increased earning potential, including executive leadership, as many C-suite executives began their careers in accounting (https://www.thecaq.org/accounting-annual-report).
Accounting is also a global profession. The Association of Chartered Certified Accountants (ACCA) “Global Talent Trends 2024” survey, which gathered insights from nearly 10,000 accountants across 157 countries, confirms that accounting professionals are highly mobile and often work across borders (https://tinyurl.com/y5dv47ta). The globalization of business has created roles requiring expertise in international financial reporting standards, cross-border tax regulations, and global financial strategies.
The profession emphasizes lifelong learning. Firms like KPMG have invested heavily in training, exemplified by their $450 million Lakehouse facility in Orlando, Florida, which fosters collaboration and continuous learning. Many firms also partner with universities to provide continuing education and ensure their professionals stay ahead of industry trends, as highlighted in the Center for Audit Quality’s 2024 report.
Accounting continues to be one of the most stable professions, offering job security in an uncertain economy. With the prospect of student debt and other obligations, this is a practical consideration for many students. Businesses will always need accountants.
Changing Education Environment
To address the perceived obstacle presented by the 150-credit hour requirement, some CPA firms have been offering candidates scholarships and flexible work arrangements. In a major recent development, the AICPA and NASBA approved an additional CPA pathway, endorsing the laws that have passed in several states (including Pennsylvania and Connecticut; New York may soon follow suit) which allow candidates to sit for the exam with 120 credit hours and two years of relevant work experience (https://tinyurl.com/2zj5j8jk). This change broadens access while maintaining the rigorous standards the profession has set for itself.
Scholarship opportunities are abundant, including those from the AICPA, NABA, PCAOB, state CPA societies, and large firms like Deloitte, KPMG, EY, and PwC. These initiatives help alleviate financial burdens and attract more students to the profession, supporting a well-prepared and more diverse pipeline of future accountants.
Importantly, perceptions of accounting are improving. The 2024 study by the CAQ mentioned above found that two-thirds of nearly 3,500 college-bound students surveyed agreed that accounting is a field where one can add real value. This marked a significant improvement from previous years; familiarity with the profession rose, most notably among underrepresented groups. These shifts are attributed to targeted outreach efforts such as the Accounting+ campaign and the AICPA’s Accounting Opportunities Experience, which have successfully reshaped the narrative around accounting by emphasizing its strong salary potential, career flexibility, and job security.
Despite earlier challenges, the narrative of accounting’s decline is overstated. A renewed surge in interest, driven by students recognizing the profession’s strong earnings potential, diverse career paths, intellectual rigor, and long-term stability signals a promising future for the field.
An Essential Profession
The accounting profession is not fading–it is transforming. As businesses grow more complex and data-driven, accountants are stepping into roles that demand strategic insight, technological fluency, and ethical leadership. This evolution isn’t just necessary; it’s exciting. The future of accounting is not only secure, but also essential.
Dale Goldstein, MBA, CISA, is a distinguished professor of accounting at Pace University’s Lubin School of Business and a former director in KPMG’s technology assurance–audit practice.
