Factors contributing to the growing lack of accountants

Factors contributing to the growing lack of Accountants Miles Education A critical problem that is hurting businesses and organizations all over the world is the scarcity of accountants . Many businesses are having trouble filling available positions because of the growing demand for certified and skilled accountants . According to the Bureau of Labor Statistics , 17 % drop in employed . accountants and auditors in the US . Causes of the shortage of accountants : 01 Retirement of baby boomers accountants as they are reaching retirement age . 02 Lack of interest among younger generations due to the perception that it is a dull and uninteresting field . 03 Increased complexity in the profession due to the ongoing emergence of new technologies and laws . 04 Insufficient academic preparation : Some college accounting programs may not adequately prepare students for the demands of the profession , leading to a shortage of qualified candidates . Effects of the shortage of accountants : 01 Difficulty in finding and retaining qualified talent . 02 Increased workload for existing staff . 03 Delayed financial reporting . 04 Inability to comply with regulations due to lack of assistance of qualified accounting professionals . Make the most of this golden time , as you are in demand ! Be the change - better it's to start now than never . The premier CPA training institute , Miles Education , is prepared to address this CPA gap . To find out more , go to the website . #CPAmatlabMiles VISIT NOW