The CPA credential remains a cornerstone of the profession, but new data indicate its prominence is steadily declining.
Between 2020 and 2024, the average percentage of staff holding CPA licenses across all firms dropped from 56.0 percent to 48.4 percent. This decline has occurred across all firm sizes, suggesting a systemic shift in both hiring practices and credentialing trends. Larger firms, which tend to offer a broader array of advisory and consulting services, report even lower CPA ratios, with only 41.5 percent of staff holding licenses in 2024.
Several factors appear to be contributing to this trend. Firms are expanding into non-traditional service areas, which often require different skill sets. The cost and time required to become a CPA may be pushing some professionals toward alternative credentials. Additionally, fewer accounting graduates are pursuing the CPA designation, creating a talent pipeline concern for the future.
States such as Georgia and Minnesota have already introduced alternative licensure pathways, suggesting that the traditional 150-hour model may not meet the needs of the evolving workforce.
This shift has important implications for firms as they reconsider how they build teams, deliver value and support licensure in an increasingly diverse profession.
Order the June IPA Insights: Hot Topics Report to see the complete analysis and understand what this trend could mean for your firm.
