Will America’s Accountant Shortage Get Worse?

The United States is facing a significant accountant shortage, and the situation could become more severe, according to experts. The National Association of State Boards of Accountancy predicts that there will be a shortage of 50,000 accountants by 2024. Various factors contribute to the shortage, including an aging workforce, low enrolment in accounting programs, competition from other industries, and a lack of understanding about the profession. The COVID pandemic has further exacerbated the accountant shortage, with many delayed retirements, causing fewer job openings for entry-level accountants.