Why CPAs Are In Demand
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Business across borders is a growing phenomenon and brings with it the need for CPAs who possess the knowledge and skills to deal with all the regulatory and financial challenges as well as business opportunities this brings.
Widespread adoption of IFRS
International Financial Reporting Standards have grown in importance in recent years as more and more countries adopt them for usage. With IFRS knowledge embedded in the CPA designation, this makes it more in demand.
Greater focus on ethics
The last decade has been a rollercoaster ride for business - monetary scandals have brought down established organizations around the world and the global financial crisis wreaked havoc in its wake. The result of all of this has been a greater focus on ethics. A core part of the CPA Program ensures that once certified you become a torchbearer for ethical standards in everything you do.
Tighter industry regulations
Yet one more knock-on effect of the global financial crisis was worldwide recognition of the need for tighter financial industry regulations. Again, this makes the job of the CPA even more in demand.
Filling a gap
In some countries the number of job openings for CPAs outnumbers the available talent – indicating just how in-demand CPAs can be. Even in countries with a healthy number of CPAs, statistical analysis points to an upcoming wave of soon-to-be-retired CPAs, which could make young CPAs even more in demand in coming years.
A changing world
The pace of change in the business world is faster than ever, thanks to innovations in technology and unforeseen events such as the recent global financial crisis. This means businesses are increasingly looking to hire talent with an up-to-date knowledge of the business world, something that you have as a CPA.
Strategy is more important than ever
With a fast-changing world, unforeseen events are forcing businesses to be more proactive and strategise. CPAs are in a position to provide decision-makers with the most useful information that they need – not only recent financial activity but recommendations for planning future events.
Fast growing profession
In fact, CPAs are witnessing incredible growth in demand. According to the U.S. Bureau of Labor Statistics, the number of accountants and auditors (especially those with a CPA) is expected to grow faster through 2018 than for all other occupations.
Continuing demand means there’s never been a better time to be a CPA - it’s the profession that offers career stability, excellent compensation, increased mobility, and career growth opportunities all in one.
Sounds tempting? Why not check out all the benefits the CPA has to offer! Click here.
Becker Professional Education, Why CPAs are in Demand
http://www.becker.com/cpa-review/resources/career-opportunities/why-cpas-are-in-demand (Accessed April 2014)
Lacey, A. T. and Wright, B. (2009), Bureau of Labor Statistics, Occupational employment projections to 2018
http://www.bls.gov/opub/mlr/2009/11/art5full.pdf (Accessed April 2014)