Completing the equation.

• Author: Tucker, Jeffery H.
• Position: A message FROM THE CHAIR

One of the most common complaints I hear from other CPAs concerns the difficulty they have finding new talent. Whether you are in a firm or business, your organization will need an infusion of fresh blood from time to time. However, when that time comes, you find yourself asking, "where are all the new CPAs?"

Good News

After years of decline, we have started to see an increase in the number of students majoring in accounting. The latest report from the AICPA shows a 17 percent increase in accounting students. The pipeline that had slowed to a trickle is filling back up.

As a profession, we need to remain as dedicated as ever to recruiting students--the "best and brightest"--to become CPAs. The increase in accounting majors is fantastic news--but it may be a flash in the pan. Recent circumstances may take as much credit for the increase as our diligent recruitment efforts.

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First, the fallout from Enron propelled the profession into the spotlight. Suddenly, accounting and CPAs were the center of mainstream culture--a constant topic of discussion. The negative coverage that made us cringe, made the CPA profession seem exciting and challenging to students. They saw an opportunity to make a difference and have an impact. Several of our student ambassadors say they are excited by a career in accounting because they want to be involved in rebuilding the public's trust and the reputation of the profession. Along those lines, check out the story on page 50.

Second, economic struggles have motivated students to seek careers with stability and job availability. One of the selling points of accounting is there will always be a need. It's one of few professions that are considered "recession proof." Accounting is the oil of the financial machine. Speed it up, slow it down--it will always need oil. At a point when many college majors cannot offer much hope of a job upon graduation, accounting continues to offer a solid future. A career in accounting offers financial success and professional reward, a very attractive combination for today's college student.

Five years from now, when Enron and Andersen are just answers to Trivial Pursuit[R] questions, and the economy has regained its strength, will we again struggle for CPA candidates? Today's increase in numbers is not a reason to slow the momentum of student recruiting.

Bad News

Increasing the number of accounting majors is only half of the equation. A 17 percent increase in...