There is a growing talent shortage in accounting, and the state of Georgia has recently taken steps to expand access to a career in this field. The legislature passed a bill that creates additional pathways for people to earn a certified public accountant (CPA) license beyond the 150-hour rule, which will benefit individuals and businesses in Georgia.
The 150-hour rule requires students to take an extra 30 hours of academic credits, equivalent to an additional year of college, plus work under a CPA for one year, and pass the CPA exam. This requirement lengthens the timeline and raises the costs of becoming a CPA, contributing to the accounting talent shortage.
If signed into law, this bill will allow individuals in Georgia who are interested in becoming CPAs to explore alternative pathways. They can bypass the extra school costs beyond their bachelor’s or master’s degree and directly enter the workforce, spending 1-2 years working under a CPA and passing the exam to earn their license, removing a financial barrier to becoming a CPA.
Similar reforms are taking place in other states, recognizing the evolving focus on integrated technology within the profession. Increasing hands-on experience, including with technology, enhances learning and development, preparing CPAs to address their work through the application of data, analytics, automation, and AI.
CPAs play a critical role in society by helping public and private companies, governments, investors, and taxpayers understand an organization’s financial situation. Though talent shortages do not currently affect Big 4 accounting firms like KPMG, they impact the economy and capital markets. Last year, nearly 600 U.S.-listed companies reported material weaknesses related to personnel, and S&P Global analysts warned that many municipalities could face credit rating downgrades or withdrawals due to delayed financial disclosures.
Alternatives to the 150-hour rule alone are insufficient. The industry must also work to attract and retain talented individuals by leaning into technology, evaluating the work environment, and creating opportunities for personal and professional development.
Reimagining the Role of CPAs
Salaries for CPA candidates are increasing, and demand for skilled professionals is high. Recent graduates value flexible work arrangements, career advancement, and purpose-driven work, prompting adjustments in benefits and employee offerings within the industry.
The purpose aspect is especially appealing to Gen Z entering the workforce. University partnerships like the Volunteer Income Tax Assistance (VITA) program provide students with hands-on experience assisting low-income and underserved communities in filing their taxes. This involvement helps them understand the tax system and maximize refunds. At some schools, even students outside the business school participate in the tax assistance program.
Innovation in the CPA Profession
Pathways emphasizing on-the-job experience through an apprenticeship model build competencies comparable to those developed through an additional 30 credit hours. There is no trade-off between quality and access, partly due to the growing role of technology in the profession.
CPAs today utilize advanced tools to transform operations. For example, KPMG engagement teams use KPMG Clara, an AI-enabled audit platform that integrates collaboration, workflow, automation, and analytics. Productivity tools like Microsoft’s Copilot help reduce manual tasks, enabling focus on deeper, value-added activities.
Sustaining the Next Generation
To sustain interest in accounting as a rewarding career, it is essential to deliver an exceptional experience for all new professionals, investing in their careers, providing competitive salaries, and supporting work-life balance and mental health.
KPMG publicly supports alternative CPA pathways. The profession succeeds by adapting to changing environments while maintaining integrity and trust. Investing in talent, embracing technology, and offering diverse, flexible entry points ensure a bright future for CPAs everywhere.
