Number of CPAs dwindle as demand grows

IRS Building
Tax season is usually the time when certified public accountants, or CPAs, are at their busiest. But they’re busier than before due to a nationwide shortage within their own industry.
J. David Ake | AP 2014

Tax season is usually the busiest time for accountants, but that busy season hasn’t stopped. With declining interest among younger talent, a different deficit is affecting certified public accountants, or CPAs, nationwide.

Becoming a CPA comes with higher barriers to entry than other finance positions — and most CPAs reached retirement age in 2020. All this makes it harder for accountants to get the certification they need and fill the demand.

Legislation introduced in Minnesota Legislature aims to ease certification standards but with the shortage already affecting the industry, other problems are cropping up. 

MPR News host Cathy Wurzer spoke with Bob Cedergren, CPA and Chair-Elect of the MNCPA board, to discuss the impacts he’s seeing.

Listen to the full conversation using the audio player above.

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