As part of this year's Top 100 Most Influential People survey, Accounting Today asked, "What is the most important issue currently facing the accounting profession?"
The full responses of all the candidates are below. The full T100 list is available
One of the most important issues facing the accounting profession today is harnessing the power of emerging technologies—such as AI and digital automation—without losing sight of the human touch. This includes human judgment and ethical leadership that have long defined our field. As the profession transforms, the challenge is not just to adopt new tools, but to integrate them in ways that amplify our expertise in financial integrity, risk management, and creative problem-solving. Accountants must navigate an evolving and uncertain landscape while remaining unwavering in their commitment to integrity and trust. This will often require a "stagile" approach—balancing stability and agility—so professionals can adapt at pace while upholding the core values that define our profession. By prioritizing collaboration between technological innovation and human insight, the profession can drive progress, embrace change, and uphold our important role as trusted advisors in an increasingly complex business world.
— Lara Abrash, chair, Deloitte & Touche
The most pressing issue facing accounting is the capacity crisis, that is at its core, about attracting and retaining talent. We're seeing an unprecedented shortage of graduates entering the accounting field, but more concerning is the lack of genuine enthusiasm for accounting as a life long career path.
The traditional approach of putting in 15 years of hard work to eventually become a partner doesn't resonate with today's graduates. They're looking to make an immediate impact and expect faster career progression and frankly, they may have a point. If we look to technology to help become part of the solution here, with AI and automation handling much of the typical manual work that new accountants spent the majority of their first years repetitively managing, we create opportunities for this fresh talent to do meaningful advisory work right out of the gate.
If the profession can adapt by embracing new technologies, rethinking traditional hierarchies, and creating more dynamic career paths, it stands to not only attract the next generation of accountants but retain them with work that feels impactful from day one. At Aiwyn, we're proud to partner with many of the firms rising to
meet this moment - those who see talent development, client experience, and operational innovation as interconnected priorities. Together, we're helping shape a future for the profession that's not only more efficient, but more inspiring.
– Justin Adams, CEO & co-founder, Aiwyn
The most important issue facing our profession is the need to build sustainable firm economics, not just for the health of our businesses, but for the well-being of the people who run them.
Too many firm owners have adopted a quiet martyrdom: overworking, underpricing, and treating exhaustion as proof of dedication. This pattern has become one of the profession's most dangerous habits. When owners refuse to raise prices or delegate work, they trap themselves in unsustainable models that erode profitability and mental health. The result is a wave of burnout that is forcing small firm owners to sell, merge, or simply close their doors. I have seen this happen with increasing frequency over the last six or so years.
And these closures have a ripple effect far beyond owners. Each time a local or regional firm closes, the small businesses in that community lose access to personal, trusted advisors. The irony is that what owners consider to be dedication to those clients- underpricing, serving beyond scope, bending processes to accommodate- are the things that are forcing them out.
Healthy firms create healthy leaders, and healthy leaders sustain healthy communities. The accounting profession doesn't have a capacity problem—it has a sustainability problem. Until we address the martyrdom culture among firm owners, we'll keep losing good people and great firms.
– Amanda Aguillard, chief operating officer, Padgett
The most important issue facing the profession is that firms are not reacting anywhere near the pace of change occurring in our world today. We are experiencing an exponential rate of change in the business environment and economy, and the profession is lagging far behind where it needs to be. I am seeing that in the preliminary audit benchmark survey results, where several firms are being held back by leaders who do not want to change. Even the most advanced firms in the survey still have a great deal of room for transformation. A firm I'm working with still uses paper and stores the work papers in 3-ring binders.
Firms will not be able to change unless they invest resources in innovation. Transformation won't happen if firms wait until they have time. They need to make a concerted effort by creating an incubator group or an R&D group that is empowered to experiment with new technology and AI. This group must be given the time and resources to see how tools and new techniques can transform their processes. They must also be granted the power and influence to drive these changes at their firms.
This initiative needs to be elevated to the same level of importance as client work, not a side project to fit in as time allows. If firms do not dedicate resources and energy to an incubator group within their firms, the changes won't happen, and these firms will be even further behind where they need to be.
— Alan Anderson, founder and president, Accountability Plus
The most important issue facing the accounting profession right now is the rise of AI technology. The easy things that firms would consider their basic services are going to be easier and faster to perform. This will reduce certain staffing requirements and change pricing models. It would look like a threat to the profession, but it's actually an opportunity.
AI is also excellent with history and pattern recognition. Much of our work with financial statements and tax returns relies on historical information. Why are we still seeing our work as just the financial statement preparation, compilations, reviews, and audits when AI will soon be able to do this better than we do?
But what AI and automation can't do is the human part. We understand our clients' companies and our clients' lives. This is the part we should have been doing all along. AI will force us to move into foresight and into helping with decision making. To remain relevant, we won't be able to simply hand our client a tax
return or set of financials. We will need to present options for the future. We need to become forward-looking instead of focused solely on the past. The personal touch that firms can provide will be more important than ever, providing value beyond the report. Firms that fail to adapt are missing out on a great opportunity to present themselves as the experts and trusted advisors they are.
The CPA designation carries the value of trust, but that value will decline rapidly if we don't transform and provide value beyond the technical ability to sign certain documents. Otherwise, CPAs will be nothing more than glorified notaries.
– Tyler Anderson, partner, Accountability Plus
The evolution and advancement of the "accountant". Many would say it is independence or the impact of AI – and while those issues are real, they are temporary. Maybe it is how these changes (PE/Independence and AI -greatly effect the individual in terms of their desire to belong, cultural adherence, interest in becoming a credentialed accountant, and having the evolving skillsets to withstand change.
So, The lack of future leaders are the most critical issue the profession is currently facing. Different than the 100-year strain on the CPA pipeline, my concern lies in the lack of current and future Leaders that we have failed to cultivate (train) thus far to endure, innovate, and lead through change.
— Rachel Anevski, CEO, Matters of Management
The most important issue facing the accounting profession right now is realizing and seizing the incredible opportunity of AI-driven transformation. We're clearly at another technology inflection point — but this one is poised to have a much more significant and dramatic impact than cloud computing ushered in more than a decade ago. But the key to success for firms is not just embracing the technology, it lies in the ability to change their business models and practice strategies to capitalize on the technology's transformative capabilities.
— Erik Asgeirsson, CEO & president, CPA.com
As in prior years, I continue to believe it is relevancy. GAAP reports that deliver less than 5% of what investors use to make decisions. Audits no one reads. Monopolies that block innovation. Outside of professional judgment and wisdom, most of what we do is on the path to AI driven commoditization, not to mention a drastic reduction in hours. Relevance is the profession's burning platform. Without it, AI won't replace us—irrelevance will. If the profession clings to compliance and counting, it will be bypassed. If we embrace the Transformation Economy, we can reclaim our calling: guiding businesses and individuals through serial transformations—from start-up to succession, from womb to tomb. Relevance is not a technical issue. It's a moral one.
— Ron Baker, co-founder, Threshold
The most critical issue facing our profession is the erosion of the CPA brand—and our collective response to it. We face both a pipeline crisis and a perception problem: while our work continues to evolve in sophistication and societal value, our brand narrative remains anchored to outdated stereotypes.
We must redefine what it means to be a CPA in this next era—advisory-centric, technology-enabled, and purpose-driven. Firms must act with intention, embrace technology, invest in learning & development, and rethink ownership structures (does not mean private equity is the only answer, there are alternatives).
– Brian Blaha, managing director, Winding River Consulting
While there is an abundance of opportunities available to the profession, our biggest need is to develop and sustain an appetite and aptitude for change. To protect the relevance of our services, the trust of our clients, and the efforts of current and future professionals, the profession needs to be fully committed to agility, learning, and experimentation. There's never been more need for trust –the very product we provide – but I worry about technology, deregulation, and competition outpacing our ability to adjust to new demands and stay relevant. Firm leaders and others who drive the profession forward need to invest in growing these critical skills, building the required infrastructure to support them, and reshaping cultures to empower our brightest talent to challenge convention.
– Adam Batchelor, CEO, CPA Crossings; chief operating officer, Pennsylvania Institute of CPAs
The biggest challenge is making technology work for people. Automation and AI are changing how routine tasks get done, and that's a great thing – if firms use the time saved to deepen client relationships, provide clearer insights, expand their teams' skills, and grow their businesses. Doing this well requires trustworthy tools, sensible safeguards, and transparent communication with clients about how those tools are used. It also requires attention to talent: easing busy season pressure, creating flexible career paths, and giving professionals time to learn. Client expectations are changing more rapidly than ever before, which means bringing data together and applying sound judgment to what it shows. In short, the profession needs to pair smart technology with strong human skills. My commitment is to help make that balance real – practical, responsible, and sustainable for the long term.
— Elizabeth Beastrom, president, tax & accounting professionals, Thomson Reuters
The most important issue facing the accounting profession today is maintaining trust while navigating unprecedented change. From rapid technological advancement to shifting client expectations and the rise of outside investment, the profession is being reshaped in real time. At RSM, we see this as a multi-dimensional challenge—one that requires us to embrace innovation, invest in talent and help clients manage complexity in areas like transformation, regulation and risk. We continue to remain partner-owned and make bold moves. An example is joining forces with RSM UK—reinforcing our commitment to independence, stewardship and long-term value. It's not just about adapting—it's about leading with purpose and integrity.
— Brian Becker, managing partner and CEO, RSM US
The most important issue currently facing the accounting profession is maintaining the perception—and reality—of our independence. The increasing involvement of private equity in the ownership of accounting firms presents new challenges. As stewards of public trust, it is imperative that our commitment to integrity and professional skepticism remains uncompromised. That is one reason BDO chose to pursue an ESOP model to support our sustainable growth and ongoing evolution. The profession must work collectively to safeguard the confidence of the investing public and uphold the standards that define our work.
– Matthew Becker, national managing principal of tax, BDO USA
The accounting profession is at a pivotal moment, facing a dual challenge that demands both agility and resilience.
First, the rapid transformation of global commerce (driven by digital platforms, real-time data, and evolving regulatory landscapes) requires professionals to rethink traditional models and embrace new frameworks for financial reporting and compliance. Second, the talent pipeline is under strain. With fewer professionals entering the field and experienced talent retiring, firms must find innovative ways to maintain quality, meet deadlines, and support business growth with leaner teams.
Navigating these pressures calls for a renewed focus on technology adoption, workforce development, and strategic collaboration. The profession must evolve not just to keep pace, but to lead in shaping the future of business.
— Michael Bernard, VP, tax content strategy and chief tax officer, Vertex
AI is top of mind for leaders across every industry, and while BDO USA has committed a five-year, one-billion-dollar investment in AI globally, our focus on our people remains paramount. In fact, as we embrace AI, we believe it is more important than ever to keep humans at the center of its adoption, ensuring that technology enhances, rather than replaces, the judgment, ethics and relationships that are fundamental to the accounting profession.
— Wayne Berson, CEO, BDO USA
The opportunities provided by technology. Financial information is already being consumed in a very different way and the rapid changes in technology will only continue to evolve that consumption. As accountants, we need to take advantage of the opportunities afforded to us by the advancements in technology. Taking advantage of technology will significantly help accountants with their productivity.
— Joel Black, chair, Governmental Accounting Standards Board
The most critical issue facing our profession is the erosion of the CPA brand—and our collective response to it. We face both a pipeline crisis and a perception problem: while our work continues to evolve in sophistication and societal value, our brand narrative remains anchored to outdated stereotypes.
We must redefine what it means to be a CPA in this next era—advisory-centric, technology-enabled, and purpose-driven. Firms must act with intention, embrace technology, invest in learning & development, and rethink ownership structures (does not mean private equity is the only answer, there are alternatives).
– Brian Blaha, managing director and partner, Winding River Consulting
One of the most important issues facing the accounting profession is bridging the gap between adopting technology and using it effectively. Firms are investing heavily in digital tools, but many still struggle to make them work together or tie them back to their bigger goals. That disconnect leads to inefficiencies and keeps them from delivering the deeper advisory value clients are looking for.
In CAS practices specifically, technology is not just something that makes the work easier. It's central to how firms deliver insights, guide decision-making, and meet growing client expectations. Clients want their advisors to help them understand their business, financially and operationally.
Firms must focus on integration by building a strong tech foundation, training their teams and continuously improving their processes to turn technology into a real driver of growth. Those that get it right will strengthen their offerings and become the trusted, tech-savvy partners clients rely on.
– Kimberly Blascoe, senior director, CAS professional services, CPA.com
The most important issue facing the accounting profession today is staying ahead of rapid technological change while preserving trust. We must evolve how we audit, through integrating AI, data analytics, and continuous improvement, without compromising the integrity and quality that define our profession.
Continuing to make our profession attractive for the next generation is another critical issue. Bringing in the best people to help us perform the reliable audits, upon which the capital markets depend, is critical to our long-term success. Our major investment in technology and our "360 Careers" experience are designed to close the perception gap that views accounting narrowly, by highlighting the profession as a dynamic, tech-forward steppingstone to business leadership.
— Julie Boland, U.S. managing partner and Americas managing partner, Ernst & Young
The most important issue facing the accounting profession right now is transformation of the business model. Particularly how we respond to the pace of technological change while still attracting, developing and retaining top talent. The advancements in AI, automation and new advisory service models are forcing firms to rethink how they deliver value. The real opportunity is to create an organization where people and technology work hand-in-hand to elevate client service, improve employee experience and build sustainable business models.
— Jim Boomer, CEO, Boomer Consulting Inc.
Change management. In our profession, mindsets are slow to change. We must learn to think exponentially rather than incrementally to leverage AI and other emerging technologies and compete in advisory and consulting services. We've discussed the need for a new business model for years, and the Exponential Organizations (ExOs) framework provides a purpose, plan and path. The disruption of AI and Private Equity in the profession has only accelerated the changes. Burnout occurs when people don't have hope and a plan for a better future. ExOs, AI, and innovation provide the framework. The profession needs to seize the opportunity by leveraging its trust, technology and team approach to client service. Do not miss the opportunity. The train has already left the station!
— L. Gary Boomer, founder, visionary & strategist, Boomer Consulting Inc.
The most important issue currently facing the accounting profession is the tension between commercialism and the enduring need for a focus on investors and the public interest. We are witnessing a wave of innovation and transformation unlike anything we have ever seen. Artificial intelligence, automation, off shoring of audit work, private equity investments, and digital assets have the potential to completely transform how the audit is performed. It begs the question: despite the opportunities and enhancements to audit quality that may be an outgrowth of these emerging trends, are we still preserving the core values that have anchored the profession for generations?
History reminds us that nearly 100 years ago the auditing profession as we know it was born of crisis and the need to restore public trust in the markets. The audit profession's importance to maintaining trust in our public markets has not changed. What has changed is the environment in which we operate. In our global environment, the tools are faster, and the risks are more complex. But the auditor's role as a skeptical, independent voice remains as vital today as it was in the aftermath of Enron and the Great Depression.
Today, the challenge is to ensure that these innovations do not dilute accountability and that efficiency does not replace judgment. The future of auditing depends on our ability to carry forward the lessons of the past while embracing the possibilities of the future.
– George Botic, acting chair, PCAOB
I believe, the most important issue facing the accounting profession today is the pace and scale of technology disruption—driven primarily by the deployment of Artificial Intelligence. Many of the manual, repetitive tasks traditionally performed in audit, tax, and other core service areas are not only ripe for transformation, but long overdue for it. AI is rapidly reshaping how we deliver value, automate processes, and interact with clients. The real challenge for firms is not whether this transformation will happen—it's how quickly they can embrace it. Those that hesitate risk falling behind, while those that lean in and adapt will position themselves to remain relevant and competitive in a profession that's evolving faster than ever before.
— Jim Bourke, managing director, advisory services, WithumSmith+Brown
The most important issue currently facing the accounting profession is talent — full stop. Our ability to attract and retain talent is declining, and that trend must be reversed.
– Tim Brackney, CEO, Springline Advisory
Human capital management is still the most critical issue facing the accounting profession, but now the focus is different. Now that we are actively addressing the barriers to entry through legislative and policy initiatives, we need to shift our focus to articulating the skills that tomorrow's professionals will need to be successful and creating opportunities to develop them.
As the accounting and finance landscape has evolved, it's become more critical for professionals to quickly develop the necessary skills to excel in their roles and ensure their long-term career success. The reality is that roles and responsibilities are changing at all levels across the profession, largely due to evolving client expectations, shifting service lines, technology-related transformations, and widespread artificial intelligence (AI) adoption. These forces are pressuring everyone to keep up or get left behind. Meanwhile, they're also pushing employers to simultaneously reimagine their workforces, close the skills gaps among their own ranks, and develop strategies to address the profession's human capital challenges. At the same time, more generations are working alongside each other than ever before, creating new layers of generational friction over what it means to be career ready. Unsurprisingly, employee and employer expectations are often at odds today. And while disconnects over perceived skills gaps and workforce readiness aren't new, they're growing more prevalent.
Ensuring talent readiness is a shared responsibility that must evolve in concert with the profession and alongside the professionals it serves. By embracing this mindset, I believe we can collectively identify opportunities to build strong, supportive paths toward better talent readiness and, ultimately, establish a more stable and attractive talent pipeline and profession. We need more people with the right competencies for the future benefit of the profession.
— Geoffrey Brown, president and CEO, Illinois CPA Society
The use of artificial intelligence and how that impacts financial reporting and auditing. The profession is quickly adapting, but there are many issues and challenges to be addressed.
— Jennifer Burns, chief auditor, AICPA-CIMA
One of the most important issues we face today is the need to invest in developing and growing our people.
Yes, fewer new CPAs are entering the profession, and that is an important challenge. The real opportunity is how we respond. We must create an experience where people can grow, lead, and thrive.
We need to invest in development. That starts with renewed emphasis on apprenticeship, hands-on coaching, and on-the-job learning. We should give professionals at every level the tools, technology, and mentorship they need to succeed in a fast-moving business environment. We must also make the profession more accessible, more inclusive, and better aligned with the future of work.
This is our moment to shift the story from shortage to growth. By investing in people, improving how we learn, and helping individuals link daily work to purpose, we can build a profession that is sustainable and stronger than ever.
At PwC, I'm committed to these initiatives that encourage more people to pursue a career in accounting. This includes programs like our Destination CPA Program, Student Loan Paydown benefit, CPA Review Course Program and Education Support Program to help our foster continuous learning. These programs are personal to me. I still remember paying off my last student loan the year I made partner! In addition, our firm has donated more than 140,000 hours to a multi-year campaign to raise awareness of careers in accounting and auditing. This includes outreach to high school and college students to identify talent earlier and prepare them for an accounting career path.
– Deanna Byrne, US assurance leader, PwC
The biggest issue facing the accounting profession today is keeping up with the pace of change.
Technology, client expectations, and workforce dynamics are evolving faster than ever before. What once took decades to adopt now happens in a matter of months. The internet took nearly 20 years to become essential to business; generative AI reached that point in less than two. Tools like ChatGPT and Copilot have transformed how we work almost overnight. The profession simply has not had to adapt at this speed before.
What makes this moment unique is that change is no longer linear; it is exponential. New capabilities are being released weekly, reshaping how firms deliver services, train their people, and even define value. Yet firms are expected to keep up while navigating the same seasonal demands and client pressures as always.
The danger is not resistance to change, but underestimating its velocity. Firms that do not intentionally build time and capacity to experiment, learn, and adapt risk falling behind without realizing it. Keeping up with the pace of change is not just about adopting new tools; it is about developing a mindset and culture that can thrive in continuous transformation.
– Arianna Campbell, shareholder and chief operating officer, Boomer Consulting
The single most pressing issue is the growing imbalance between expectations and capacity. Firms are being asked to deliver more services, deeper insights, and faster turnaround while managing an explosion of regulatory and technological complexity.
This is not a new problem. It has been compounding for over a decade. Too much of the profession still depends on manual, repetitive work. Practitioners who trained to provide analysis and judgment often spend most of their time reconciling spreadsheets and navigating disconnected systems. The result is burnout, talent attrition, and rising pressure on firms.
The solution is more leverage from deeply integrated automation technology that affords practitioners to do meaningful work for their clients. Automation should not replace judgment, it should amplify it. It should free accountants to focus on higher-value analysis and client relationships.
At Fieldguide, we are seeing that shift take shape. Firms are cutting audit hours, improving documentation quality, and most importantly making the work more sustainable for their teams. Solving the capacity challenge is not just about efficiency. It is about ensuring the long-term health, sustainability, and relevance of the profession.
– Jin Chang, CEO, Fieldguide
This is a topic I cover frequently, most recently in industry pieces such as How tech is quietly solving audit's most persistent pain points, featured in Accounting Today's 'AT Think' section and in my commentary in David Arman's recent A&A Focus Recap in the Journal of Accountancy. This is a recap of my recent appearance with AICPA's A&A Focus program host Bob Durak, CPA, CGMA, director - A&A Technical Services for the AICPA. Here, we opened a new three-part series on artificial intelligence in audit and assurance, offering practical advice for firms looking to explore the technology without being overwhelmed as the amount of information and speed of change is overwhelming.
In my view, it's how we adapt to the unknown and that speed of change. At the core of many challenges we're encountering - whether it's technology adoption, regulatory changes, workflow compression or even the talent pipeline - is this looming fear of what's coming next and how to navigate it. We see these massive shifts approaching, but we can't fully see what lies on the other side, and that's causing a lot of stress within the profession.
Accountants are traditionally trained to value stability, precision and a regimented approach, which has served us well in the past. But the future is moving at a much faster pace, requiring us to be flexible and open to rapid change while still maintaining high levels of accuracy and public trust. This creates a tension between what we've been taught and what's now required of us.
What's particularly challenging is that, as a profession, we're used to dealing with forced change, such as new regulations, and we've built our structures around adapting to these external pressures. But we haven't fully exercised the muscle needed to change proactively, ahead of being forced to do so. Now, we need to figure out how to shift that mindset, how to embrace change in advance and how to do it with the same precision and responsibility that's always been expected of us.
It's not just about specific issues like the pipeline or new standards - it's about how quickly we can learn, unlearn and relearn as an entire profession. That's the real challenge we face.
– Danielle Supkis Cheek, SVP, AI, analytics and assurance, Caseware
We're facing the accelerated unraveling of what has long defined accountants and how accountants work. AI is automating core tasks like reconciliations,tax prep, and client communications at a dizzying pace. The latest private equity wave has only intensified the pressure, accelerating expectations around modernization, profitability, and scalability.This convergence has upended the traditional model of stability that once defined the field. In a profession built on caution, precision, and deliberate progress, the pace of change now feels relentless and unforgiving. What was once a safe, steady path is increasingly perilous, as hesitation can lead toirrelevance.To succeed in this era, accountants must rethink their approach entirely—embracing innovation in mindset, operations, and leadership. The irony is stark: the traits that propelled success in the past, like risk aversion and gradual adaptation, could now hinder progress unless joined with proactive,bold strategies. Beyond technology, the core challenge is cultural: fostering a shift toward agility while upholding the bedrock of integrity and trust.
The firms that flourish will be those that adapt to this new reality, but those resistant to evolution risk not just lagging behind—they face potentialextinction.
– Ellen Choi, CEO & Founder, Edgefield Group
I believe the successful adoption and integration of artificial intelligence throughout critical processes in all organizations, will be the most impactful over the next few years. Practical application of this transformative technology is poised to fundamentally reshape all facets of what we do.
— David Cieslak, EVP, chief cloud officer, RKL eSolutions LLC
The most important issue facing the accounting profession today continues to be recruitment, retention, and firm culture. Accounting Today has consistently reported that staffing challenges—hiring, training, and keeping talent—are the top concern for firms, with burnout and poor workplace conditions intensifying the problem.
The AICPA reinforces this, identifying the talent pipeline as the profession's most urgent challenge. Through its Top Issues Survey and recent advisory panel NPAG, the AICPA has underlined the necessity of strengthening the workforce and creating environments where professionals can thrive.
Furthermore, with the truly revolutionary impact that AI and emerging technologies are poised to have on our profession, firms need to be ready to both upskill their staff such that they are retaining top talent whose work may look very different in the not-too-distant future while simultaneously developing plans to attract and retain different types of talent (e.g., AI, data, automation experts) who will be key to new service delivery models.
Addressing these staffing challenges and opportunities is essential to ensuring the profession's long-term strength and relevance.
— Rhonda Clark, executive director, Association for Accounting Marketing
The most important issues are the profession's increasing reliance on technology, paired with persistent challenges in people retention and development. While technology brings efficiency and opportunity, over-reliance risks eroding the human element (relationships, judgment, and trust) which defines our profession. The real challenge is ensuring that technology and human development advance together. Firms must double down on attracting, developing, and retaining exceptional people, because they remain our greatest differentiator. The future of the profession depends on balancing innovation with intentional investment in people so that technology enhances, not replaces, the trusted advisor role.
– Jeremy Clopton, managing director, Upstream Academy
Making sure the new emphasis on "light touch" regulation is in balance with safeguards that have long protected investors, our capital markets and our trusted CPA brand.
— Susan Coffey, CEO, public accounting, Association of International Certified Professional Accountants
The most important issue facing the accounting profession today is preserving public trust amid rapid transformation. As technology reshapes the way we collect, analyze, and communicate tax and financial information, the foundation of our profession—integrity—remains constant. Accountants must harness innovation responsibly, ensuring that automation and AI enhance, rather than erode, the transparency and ethical standards that define the profession. In an era of complexity, technological advances, regulatory changes, talent shortages and shifting expectations, our greatest challenge—and greatest opportunity—is to reaffirm that trust is our true north star while we simultaneously preserve quality.
– Erin Collins, National Taxpayer Advocate, Taxpayer Advocate Service, IRS
The most important issue facing the accounting profession today is the talent shortage, including having diverse perspectives in that talent pool. That said, I am motivated by how I see everyone working together to change that. We're all boosting our engagement at Universities and High Schools and making sure we share the great things this profession – whichever pathway you take - has to offer. I'm also happy to see that accounting enrollments are improving, which I hope means our collective efforts are working. I like to think that's a reflection of all the hard work we're doing to shift awareness and the narrative in a positive direction.
— Crystal Cooke, director, diversity and inclusion, AICPA
Human sustainability is our most pressing challenge; our capacity and culture need a redesign. Years of complacency have led to fewer new hires, frequent burnout, and a business model that values hours over results. To maintain quality and relevance, we must rethink workflows, pricing, and engagement scheduling, focusing on outcomes and client impact instead of hours. Careers should offer flexible entry and exit points, structured learning opportunities, and clear skill development paths. Well-being must become actionable policy, and AI should be used to free up time for valuable work that only we can do. Leaders must set an example with transparency and trust. Solving human sustainability will improve retention, quality, innovation, and professional pride.
— Randy Crabtree, partner, co-founder, Tri-Merit Specialty Tax Professionals
The most critical issue is the growing talent crunch. Fewer students are choosing to major in accounting or pursue it as a career, even as the demands on the profession continue to expand. Practitioners are being asked to navigate increasingly complex policy and regulatory changes: what once shifted only every 30 years now changes every 8 or less. And they're doing so while also mastering new technologies that reshape how work gets done.
This collision of a shrinking pipeline of talent with a rising volume and complexity of work is creating pressure across the profession. Addressing this imbalance by attracting and developing the next generation of professionals while equipping today's workforce with the right tools and technology is, in my view, the most important challenge we face.
– Evan Croen, head, Bloomberg Tax, Bloomberg Industry Group
Complexity and speed of change.
— Gale Crosley, president and founder, Crosley+Company
Relevance has been the most pressing challenge facing the profession for a few years now, in my opinion, but the pressure just became far more intense as we see what artificial intelligence can and will do. When all knowledge is suddenly democratized and technology can do most of the work and research that CPAs traditionally have done, a reflection on value proposition becomes necessary. CPAs are immediately challenged to bring trust to the capital markets, economies, businesses and individuals in new and different ways.
Closely related to the building crisis of relevance is the need for our profession to determine how it will develop the workforce of the future in light of artificial intelligence. Early in my career, I learned how to be a professional by observing others around the conference room table. I learned how to think like an auditor by testing cash first and building from there. We urgently must address the skills and competencies needed by future CPAs so that we don't lose the relevance game because we're unprepared to play.
— Jen Cryder, CEO, Pennsylvania Institute of CPAs
I believe, the greatest issue facing the profession today is relevance. As automation and AI transform how work gets done, firms must redefine what it means to be an advisor. Many are still trapped in traditional models, measuring value by hours instead of outcomes. The challenge—and opportunity—is to pivot toward insights, foresight, and specialization. The profession must embrace innovation, talent development, and pricing models that reflect strategic value, not compliance tasks.
– Deborah Defer, director, CAS consulting, Woodard
The most pressing issue facing the accounting profession today is the imperative to evolve—rapidly and responsibly—with technology. The integration of artificial intelligence, advanced data analytics, and automation is not optional; it's foundational to the future of audit. But this transformation brings with it a challenge: How do we maintain the integrity, trust, and quality that define our profession while fundamentally changing how we work?
We must ensure that our people are not only equipped with technical skills but also empowered with the confidence and fluency to lead in a digital-first environment. At EY, we're investing in both technology and talent to deliver smarter audits, deeper sector and business insights, and enduring trust in financial reporting. The stakes are high, but the opportunity is even higher.
– Dante D'Egidio, Americas vice chair — assurance, EY
The most important issue is the need to attract and inspire young people, who are eager to shape the businesses of the future, to enter the field of accounting. Redefining modern accounting and finance work as technology-driven, strategic, and forward-looking will broaden the talent bench and enable us to attract the best and brightest young professionals. IMA certifications like the FMAA™ (Financial and Managerial Accounting Associate) and the CMA underscore my message that continuous upskilling can help every professional meet future demands.
– Mike DePrisco, president and CEO, Institute of Management Accountants
Business transformation for accounting firms is one of the most important issue facing the profession. From our governance models to growth and to how we do our work, firms are facing a lot of change right now. How they respond will be correlated to future success.
— Sarah Dobek, president and founder, Inovautus Consulting
In today's competitive accounting landscape, it's more important than ever for firms to create people-first environments that truly support their teams. Accounting professionals are seeking workplaces that address not just career development, but also their emotional, educational, and psychological needs. In an industry that is struggling with retention, fostering growth and providing opportunities to elevate career potential is no longer optional but essential for sustained success. Firms that prioritize their people, invest in learning, and nurture well-being will not only attract top talent but also empower employees to thrive, drive innovation, and deliver exceptional value to clients.
– Jeremy Dubow, CEO, Prosperity Partners
Private equity ownership of CPA firms has raised greater awareness about alternative practice structures as an ownership model for firms. The significant broadening of this ownership model has raised greater awareness about auditor independence and the potential for undue influence in the practice of the profession.
– Daniel Dustin, president & CEO, National Association of State Boards of Accountancy
I think we are in the midst of very challenging times as traditional accounting models (and most business models in general) – models based on outdated notions of "human productivity," where our value is measured by the hours we put in, our output and increases to the bottom line – are no longer sustainable. We are not machines, and profit is not purpose. We must find and reconnect with that which makes us human – purpose, meaning, creativity, and connection. We must take better care of ourselves, so we don't sacrifice our own well-being for the sake of another dollar. We must release the pressure, take more risks with each another and let go of trying to get it all right or perfect. We must seek to understand one another as human beings, rather than workhorses or profit centers. Only then can we create a true sense of belonging and purpose in this profession. If we can't, people will leave to find it elsewhere.
The pace of change continues to accelerate, and it is overwhelming us. Yes, it's an exciting time, but we have to take care of ourselves and one another first to be able to usher in change. We need to focus on our human strengths first, so we can tap into the power of technology to support us.
I see way too many accountants feeling overwhelmed and burned out. We see the impact in our pipeline challenges. If we don't usher in a new form of leadership and human-centric business models, the very sustainability of our profession is threatened.
– Sarah Elliott, co-founder & principal, Intend2Lead LLC
There are certainly several critical issues facing the accounting profession today. However, I believe the number one issue is the erosion of trust and each of its many tentacles.
Trust is under attack. By trust, I mean the confidence that stakeholders—clients, investors, regulators, employees, and the public—have in the integrity, accuracy, and reliability of the information and advice we provide.
Factors in the broader macroeconomic and societal environment—market volatility, geopolitical uncertainty, and the proliferation of disinformation, and misinformation make it easy to not trust. Further, along with the opportunities of technology are the deep fakes, that create new risks and challenges: they can manipulate financial documents, misrepresent executive communications, fabricate evidence in audits or investigations, and even create fraudulent identities that compromise due diligence. Clients and the public often don't know who or what to trust. They aren't always sure whether they are receiving transparent, accurate, or honest answers, which undermines confidence not only in individual relationships but in the profession across all segments.
When trust is lost, the consequences are real and widespread: investors question financial statements, employees lose confidence in leadership, regulators and third parties intervene, and the public may doubt the integrity of accounting entirely.
Trust isn't given; it's earned every day through transparency, accountability, and ethical behavior. We will continue to be a trusted profession, but we can't take it for granted. We must evolve our trust processes.
Cybersecurity is a tentacle of trust. Every breach, ransomware attack, or loss of sensitive data chips away at confidence of stakeholders. The accounting profession works hard on reinforcing trust, ethics, and promoting and protecting the public's interest but in this battle, I believe we are collateral damage. Yet, in the big picture, if clients, the public, analysts or investors cannot trust that data is secure and reporting is reliable, even the most technically accurate accounting work loses credibility. Cybersecurity is not just a technical issue—it is central to maintaining the trust that underpins the profession.
Addressing these challenges requires a multifaceted approach. Clear, proactive, frequent communication with clients and stakeholders is critical to counter disinformation, and other manipulations while reinforcing credibility. We must embrace digital adoption and adaptation, leveraging AI, automation, and other technologies thoughtfully to enhance accuracy and transparency even as we seek processes that reinforce trust and help identify when bad actors are using technology to commit crimes.
Professional skepticism must extend to all leaders and directives, especially when the leader who is delegating work, and issuing directives is an AI system.
Talent development remains critical—we need human judgment and interaction to complement technology, to help ensure that we don't accept technology decisions just because they come from a seemingly authoritative source.
Trust is reinforced when the profession continues to consistently demonstrate competence, transparency, ethical judgment, human oversight, and accountability. It's an everyday effort regardless of firm size or segment. In today's rapidly changing landscape, we can shore up trust even more by aligning people, processes, and technology to earn and maintain confidence at every stakeholder level.
— Kimberly Ellison-Taylor, founder and CEO, KET Solutions LLC
Staffing pressures once dominated the conversation, but we've entered a new phase where technology adoption is the critical issue. Accountants face a flood of promising tools; the challenge is selecting and implementing those that eliminate low-value, time-consuming tasks and allow them to focus on higher-impact client work.
– David Emmerman, chief revenue officer, Clockwork.ai
The most important issue facing the profession today is people: our ability to attract them, engage them, and inspire them to stay. We've built a profession defined by technical rigor, academic excellence and trust, but haven't kept pace with shifting norms and expectations around the human side of that trust: belonging.
Much of our dialogue around diversity is through the lens of demographics – the numbers, the trends, the data. While important, I believe it has fast become the least helpful lens. None of that matters if we can't shift to a conversation of inclusion that is centered on connection. When people experience a feeling of being seen, valued, and part of something meaningful, they don't just stay. They thrive. This isn't limited to any one group; it's universal. If our workplaces don't feel inclusive for everyone, then they aren't inclusive for anyone.
Belonging can't be mandated or measured on a spreadsheet. It's something people experience through culture, relationships, and leadership. Until we focus on that deeper human connection, the ability to see and value difference holistically, we'll continue to struggle to attract and retain the very people who could lead our future.
– Jina Etienne, CEO, Etienne Consulting
The most important issue currently facing the accounting profession is the lack of young people entering and staying in the field. This year, the AICPA released a report that for the first time in years, there was an uptick in the number of students studying accounting. While that is great to hear, it is important to continue improving on that and not become stagnate. Even if people are joining the profession, we see huge burn out rates. I think it is crucial for people to understand that alternative pathways exist in the accounting profession and to make these paths more accessible to people earlier in their careers.
– Rachel Farris, founder/CEO, Tax Stack AI
The advancement of AI. While this is still in its infancy, it is growing. The issue is how much impact do we want it to have. It is being relied upon a lot to do the nuts and bolts work done by the business owners, by the CPAs, but it still needs to be reviewed to be certain that everything is being properly recorded and reported.
– Neil Fishman, president, National Conference of CPA Practitioners
The talent shortage, combined with the advent of AI, is a big one. This continues to raise significant questions:
- How will pending automation and generative tools change the early career profile and development path for new talent?
- How can firms continue to elevate rising professionals under new firm ownership models to keep them incentivized and thriving?
- How do we leverage the rapidly advancing back-office technology tools that are emerging to support the existing talent?
- How does offshoring contribute to the solution without reducing quality and relationships?
- How do the new tools equip our professionals to spend more time on the high-value and critical work of advisory versus production?
Ultimately, we need to answer how we can continue to attract talent to the industry when so few people are entering the profession, and how we can implement AI to help address that shortage. Additionally, while I believe new technology will continue to serve as a catalyst for new service frontiers and firm capabilities, we will never want to replace the magic of human relationships. Strong firms will use any form of new technology to support the workforce, not replace it.
– Reyes Florez, CEO, Platform Accounting Group
The biggest challenge facing our profession today isn't technology — it's relevance.
In a world that's moving faster than ever, the accounting profession can't simply react to change; we have to anticipate it. The risk isn't that AI or automation will replace CPAs — it's that we might fail to meet, or worse, fail to anticipate, the evolving needs of the market and society.
To stay relevant, we must continually reimagine how we attract, develop, and empower talent, and how we show up as trusted advisors in a more complex, data-driven world. In short, we have to be willing to disrupt ourselves before we're disrupted.
In today's tech-enabled economy, the role of finance and accounting professionals is evolving rapidly. We're no longer just historians of financial data — we're strategic thinkers, problem-solvers, and architects of resilience who sit at the intersection of trust and transformation.
From AI to ESG, from cybersecurity to regulatory compliance, CPAs are guiding many of the most important conversations shaping the future of business and society. Technology is amplifying our capabilities, but it's our human judgment, ethics, and integrity that remain the profession's true differentiators.
The good news is that the profession has a history of evolving to stay relevant. During times of disruption — from periods of economic uncertainty to the pandemic — CPAs have adjusted to remain the steady hand, providing clarity and confidence when it mattered most.
We're doing it now through licensure modernization — building a profession that's more flexible, inclusive, and future-ready. Shifting to open doors, expand access, and help more people see themselves in this profession.
Ultimately, relevance isn't about keeping up — it's about leading forward. It's about embracing what's ahead — AI, new business models, global collaboration — and seeing disruption as an invitation to lead boldly, think differently, and ensure that our profession continues to make sense of what comes next.
— Denise LeDuc Froemming, president and CEO, California Society of CPAs
The issue is twofold: the accounting profession is facing a significant talent shortage while leaders and their people need to be properly positioned to succeed alongside incoming technologies. With fewer active accountants, it's important for leaders to invest in automation, artificial intelligence and advanced analytics. This helps streamline routine processes to allow accountants to not only focus on higher-value tasks that require human insight and creativity but to fill any gaps that may exist.
However, training, continuing education and career development are just as, if not more, important than the initial technology investment. On of my top priorities is to ensure our people are adopting AI in a way that is advantageous to their work and their professional development, not just trendy and opportunistic. One example of that is our Sikich AI Solutions Studio, launched last year, to provide training and hands on learning opportunities. Additionally, we invited our people to participate in an AI Innovation Challenge, to bring new and innovative ideas to the fore. I do believe we have to involve everyone in this technology evolution, leading from all fronts, not just the top.
– Christopher Geier, chairman & CEO, Sikich
The pace of change in the environment around us, especially in the age of AI, is probably the most important issue currently facing our profession. AI is changing the very nature of how we work, advise and deliver value. It's moving faster than any wave of change I've seen in my career. And as a profession, we need to lead with it—not just adopt it.
We need to evolve the brand of the profession, highlight how dynamic and relevant it remains, and make sure it reflects the world we're serving. That means valuing different skill sets, modernizing how we train and credential talent, and doubling down on the purpose that's always defined this work.
Trust. Accountability. Judgment. Those qualities matter now more than ever—and our profession's future depends on how we preserve them while embracing the tools of tomorrow.
– Paul Griggs, U.S. senior partner, PwC
The profession is at an inflection point—one that demands bold, intentional leadership. We're not just navigating one change, we're facing a perfect storm: the rapid rise in AI and automation, increased competition fueled by mergers and private equity, and a new generation of team members who expect to work differently and live more balanced lives.
Managing partners must ask: Are we simply reacting to change, or are we intentionally designing what comes next?
The year ahead will belong to the firms that choose the latter, those who evolve on purpose, not by pressure. Firms that lead with clarity invest deeply in their people and client experience and reimagine their business models will set the tone for the next era of the profession.
It's a time of challenge—but also one of unprecedented opportunity. The firms willing to rethink and retool will be the ones who thrive.
— Angie Grissom, owner, chief relationship officer, The Rainmaker Companies
The profession is facing two closely linked challenges: trust and talent.
As AI becomes fundamental to how accountants work, maintaining trust - in the data, the systems, and the outcomes - is critical. Without transparency and explainability, even the most powerful technology won't be adopted at scale.
At the same time, the industry is grappling with a significant talent shortage. To bring new people into the profession, we must show that accounting is no longer about manual tasks, but about insight, strategy, and technology. Addressing both issues together, by making AI trustworthy and the work more meaningful, is how we'll secure the future of the profession.
— Aaron Harris, global CTO, Sage
The pipeline crisis — plain and simple. We're not just talking about fewer CPA candidates, but a system (and business model) that hasn't adapted fast enough to the realities of today's students and workforce. It's a challenge of both perception and policy, and solving it requires boldness: rethinking education requirements, leveraging emerging technology, investing in storytelling, and maintaining pride in the CPA brand.
— Calvin Harris Jr., CEO, New York State Society of CPAs
The most important issue facing the accounting profession right now is the rapid rise of artificial intelligence and its impact on how we work, what we measure, and how we safeguard trust. AI has the potential to transform accounting, from automating repetitive tasks and improving audit accuracy, to unlocking predictive insights that help organizations make better decisions. But with that opportunity comes significant responsibility.
Accountants are being asked to navigate questions of data privacy, bias, security, and ethical adoption. We need to ensure that AI-driven tools don't just increase efficiency, but also uphold the integrity, transparency, and independence that define our profession. The real challenge isn't whether AI will change accounting — it already is. The question is whether accountants will step into the role of guiding organizations on how to use AI responsibly, with the same rigor we've historically applied to financial reporting.
In many ways, this moment mirrors the profession's past, when accounting standards first formalized global business trust. Today, we're being called to set a similar standard for AI: balancing innovation with ethics, so that the profession doesn't lose its most important asset — credibility.
— Jennifer Harrity, ESG & sustainability director, Sensiba
I believe that the rate of change in technology is the biggest issue we face right now. The rate of change is so rapid that it is hard for both the profession and academia to keep pace. AAA creates resources on a continual basis to support faculty to help them keep up and integrate technology in courses. I also believe that we are trying to figure out what all this means for the profession in the future. Will the same number of accountants and CPAs be needed?
– Yvonne Hinson, CEO, American Accounting Association
As accountants and auditors, our job necessitates that we quickly digest and adopt new standards and regulations without sacrificing quality. At the same time, during an era when trust is declining, we're seeing transformational rulemaking, and businesses are facing immense pressure at multiple levels. The role we play in fostering trust in the capital markets – at speed – is even more important. This is particularly true in the sustainability space, where standards and regulations around sustainability-related reporting and assurance are quickly evolving. It's not enough to simply implement the new rules. We need to prioritize high-quality, comparable and timely reporting, while thinking critically about how we communicate both qualitative and quantitative sustainability information to stakeholders.
– Maura Hodge, US sustainability leader, KPMG
Adapting to the disruption of Artificial Intelligence and Generative AI — and transforming our business models, skills, and mindsets accordingly. Not since the introduction of Excel and the personal computer in 1985 have we faced such an exponential shift. The difference today is speed: this is not a soft trend; it's a hard trend that will redefine the work of our entire profession.
— Tom Hood, EVP business engagement & growth, AICPA
The most important issue facing the accounting profession today is the urgent need to
modernize firm business models to attract and retain top talent while remaining
competitive in a rapidly evolving marketplace. Firms must balance automation and AI
integration with a renewed focus on leadership development, culture, and client experience.
The future of the profession depends on firms' ability to transform from compliance-driven
service providers into advisory-focused, technology-enabled organizations built for long-
term sustainability.
– Jon Hubbard, shareholder & chief growth officer, Boomer Consulting; director, Boomer Circles and Boomer Circle Summit
The independence dilemma for accounting firms! As I look across the nation's top 3,000 accounting firms, the defining question is no longer just how to grow, it's whether to stay independent or merge up/take private equity. The surge of private equity investment has fundamentally altered the landscape. PE firms are placing record-high valuations on top-performing practices and infusing them with capital for technology, growth, and talent development.
Yet, aside from one notable "flip" involving Citrin Cooperman and New Mountain Capital/Blackstone, the long-term viability of these private equity models remains untested. The short-term financial benefits are clear, but whether these structures can sustain the culture, client focus, and leadership continuity that define successful firms is still uncertain.
For firms committed to remaining independent, the message is clear: they must think and act like investors themselves. That means making intentional, forward-looking investments in AI and other transformational technologies, in marketing and business development, and in recruiting and developing people.
Finally, independence also requires succession readiness. Too many firms are discovering that while client transitions are planned, leadership transitions are not. Without a clear roadmap for who leads next, even strong firms risk losing momentum when their managing partner or CEO steps down.
The future of firm independence won't be defined by size or legacy, it will be defined by how boldly firms adapt, invest, and lead in this new era.
– Charles Hylan, managing member, Hylan Advisory
The profession's greatest challenge today is relevance in the age of AI. Talent shortages are symptoms - the real issue is that many accountants (and students) no longer see the profession as future-forward. To attract the next generation, we must redefine what it means to be an accountant: not just compliance, but strategy, analytics, and leadership.
The profession needs to embrace AI as an enabler - automating the routine so that accountants can focus on insight, judgment, and impact. This requires reskilling, new education pathways, and a cultural shift in how we view accounting careers.
– Varun Jain, founder & CEO, Miles Education
We've been discussing the talent pipeline and workforce shortages in accounting for several years, and I believe it remains the profession's most critical challenge. While the nature of the issue is evolving, especially as firms adapt and innovate, the core concern persists. The integration of AI and other technologies is beginning to reshape how we work – promoting a shift in how we train new graduates, who now need to focus more on reviewing work than preparing it. Attracting, developing, and retaining skilled professionals is foundational to our ability to meet every other challenge. Without a strong and sustainable workforce, firms will struggle to implement new technologies, navigate increasingly complex regulations, and uphold the high standards of client service that define our profession.
– Gina James, partner, MarksNelson
Ensuring the accounting profession thrives is paramount. With an accounting talent shortage well-documented, it falls on everyone in the profession to enlighten students and young professionals about such a rewarding career. It behooves everyone to espouse the many benefits of becoming a CPA, work to retain talented individuals in the early parts of their career and tell their own stories about their journeys to become CPAs. The accounting talent shortage cannot be solved by awareness alone, it requires intentional efforts by those already in the profession, academia and others to connect with those individuals who may not have access to such a career.
— Aiysha Johnson, CEO and executive director, New Jersey Society of CPAs
Upskilling. Admittedly, discussions on private equity, client expectations, outsourcing, Client Accounting Services & Advisory, and technology upgrades continue for very valid reasons. But if you consider the root issues of 1) retirements without properly funded succession planning, 2) lack of talent from a thin pipeline, 3) inefficiencies in workflow processes & standard operating procedures, 4) appropriate service deliverables for changing client demands, and 5) the changing regulatory environment, each requires insight that comes from education, training, and appropriate mentoring.
The profession has focused on compliance issues in tax and audit, which are unlikely to go away. However, many in the profession need to acquire new skills to support the changing demands of clients and an uncertain environment. Forces such as 1) Artificial Intelligence, 2) changing regulations, 3) needs for greater personal interaction & communication, 4) leveraging changing technology, and 5) recognizing business opportunities and strategies all take a combination of additional skills beyond the foundation of accounting knowledge. We could not build these additional skills with more hours of the wrong type of education. Building an appropriate, individualized learning plan through lifetime learning is needed now more than ever.
— Randy Johnston, CEO and founder, EVP, NMGI and K2 Enterprises
The most important issues facing the profession are the changes in accounting firm ownership structures and the move toward a more global workforce.
— Richard Jones, chair, Financial Accounting Standards Board
While I believe staffing issues will continue to be a leading issue for the profession, I see AI "shuffling the deck" on how we work, and in particular shaking up firm tech stacks (production applications), causing significant disruption to all firms.
— Roman Kepczyk, director of firm technology strategy, Right Networks
The regulatory environment around:
- Technology: the fast-paced adoption of technology having multiple facets to it. Helping firms to adopt technology at a disruptive pace, put into place the guardrails needed to ensure protection of client data, and the ethical use of AI. As well as being at the forefront when regulations are in draft form to ensure they incorporate what's best for our members.
- Deregulation as it's related to the CPA license at the state level and ensuring the credibility of the CPA license remains intact as well as the trust the marketplace has in our profession.
- New pathways to CPA issued in many states. Aligning the regulations as best as possible to preserve the mobility we enjoy today and minimize firm risk in the process.
– Lexy Kessler, chair, American Institute of CPAs and Association of International Certified Professional Accountants; partner, Aprio
It continues to be relevancy. The only thing that is propping it up are the tax codes and regulations. Even these are no longer sufficient with the advent AI.
– Ed Kless, co-founder, Threshold
The most important issue currently facing the accounting profession is helping the public understand the value that CPAs provide to the public market, businesses they serve and reliability of financial information.
In an time of rapid technological change, increasing financial complexity, and growing skepticism toward institutions, it is essential that the public fully understands the indispensable role CPAs play in ensuring the integrity, transparency, and reliability of financial information.
CPAs serve as trusted advisors and gatekeepers of financial truth. Their work underpins the confidence that markets require to function efficiently, enabling informed decision-making, safeguarding against fraud, and promoting fiscal responsibility. CPAs help maintain the credibility of financial reporting systems that are foundational to economic stability.
However, this value is often underappreciated or misunderstood by the public, especially as automation and AI reshape perceptions of professional services. The profession must therefore prioritize outreach, education, and advocacy to highlight how CPAs contribute not only to business success but also to public trust in financial systems. This includes emphasizing their ethical standards, rigorous training, and commitment to serving the public interest.
Ultimately, bridging the gap between public perception and professional contribution is vital, not just for the reputation of CPAs, but for the health of financial markets and the resilience of the global economy.
– Jeannette Koger, VP, experience, AICPA
We need to raise the starting salary, and then salaries across the board, for young talent in order for us to remain competitive. Until this change happens, the war for talent will continue to exist, as other industries and professions offer higher compensation and equity incentives that we do not.
— Allan Koltin, CEO, Koltin Consulting Group
The most important issue facing the accounting profession today is its ability to adapt to an unprecedented pace of change while maintaining its value, relevance, and human connection. The profession is evolving faster than ever, and firms are expected to do more with fewer resources, scale efficiently, embrace new technologies, and deliver higher-value advisory services in a highly competitive market. At the same time, attracting, developing, and retaining top talent has never been more critical or more challenging.
Businesses today don't just need compliance; they need advisors who can anticipate challenges, interpret data, and deliver strategic insights that drive real results. That's the new mandate for our profession.
At Aprio, we're leading this evolution by building an integrated, technology-enabled, advisory-led model that meets the full lifecycle needs of our clients, from startup to exit. By empowering our professionals with smarter tools and stronger relationships, we're creating deeper impact and helping clients make confident, informed decisions.
Across the profession, the path forward is clear: we must invest in technology, modernize our operations, and create career pathways that inspire the next generation of professionals. The future of accounting isn't just about doing the work faster; it's about delivering smart insights, fostering innovation, and ensuring our profession remains indispensable in a rapidly changing world.
— Richard Kopelman, CEO and managing partner, Aprio
Skills gap/Upskilling talent. I've traveled to several states in the US and several countries globally. This is coming up in public accounting and in finance departments all over the world. We are asking our young professionals to come out of school and already know and understand the nuts and bolts of accounting and finance. In years past they achieved the base learning by actually doing the tasks for their first 1-2 years. Now companies ask new analysts to immediately derive an opinion on their financial analysis without ever having done the work to know what goes into particular finance items. Same in public accounting. Asking new associates to immediately be able to derive opinions on audit matters or know where tax treatments are right or wrong.
– Mark Koziel, president & CEO, American Institute of CPAs; CEO, Association of International Certified Professional Accountants
The most important issue facing our profession is building our leadership skillset to navigate change. Change is all around us: technology advancements, massive retirement and succession needs, talent pipeline challenges, hyper-consolidation through mergers and private equity growth expectations.
The challenges facing our profession will accelerate, change and shift. All of our expertise is built on the past and the future is unknown. We need courageous and evolved leadership to navigate this diverse set of changes, and further, to inspire us to flourish during times of rapid change.
– Brian Kush, principal, co-founder, Intend2Lead
The most important issue facing the accounting profession is not when – but how – firms fully leverage the power and innovation of AI to transform their practices.
Accountants are drowning in the mundane while their clients desperately need strategic guidance. In our CPA.com and BILL survey earlier this year, 97% of accounting firms said they're using technology inefficiently, and 43% said outdated technology is actually creating more manual work instead of reducing it. To put it bluntly: Accountants want to become true advisors, but they can't get there because they're still trapped doing work that should be automated.
The profession is at an inflection point. With massive talent shortages and clients moving faster than ever, the accountants succeeding right now aren't the ones avoiding technology – they're the ones using it to eliminate friction and unnecessary workflows so they can focus on the strategic thinking that makes them invaluable.
— René Lacerte, CEO and founder, Bill
The accounting profession, like many other industries, continues to face challenges with talent acquisition. With many CPAs retiring, we must focus on attracting new talent to the profession through outreach and education. This is why the AICPA – together with state CPA societies across the country – are actively advocating for legislation that would designate accounting as a STEM curriculum due to its strong connection to math and technology.
— Melanie Lauridsen, VP, tax policy & advocacy. Association of International Certified Professional Accountants
The advancement of AI is not going to make our lives easier, but actually make our lives harder.
AI can provide super high-quality work at an exceptionally fast pace and when that becomes the standard, the issue becomes, how do human accounting professionals raise that bar and differentiate themselves in order to be valuable assets to their clients and to society.
– Ryan Lazanis, founder/CEO, Future Firm
Ensuring the sustainability of the accounting profession through building a strong, diverse talent pipeline, while also embracing technology in a way that enhances human judgment and client service. That effort must include attracting more students into accounting degrees, removing unnecessary barriers to entry (education, licensing) to diversify and grow the profession and equipping accountants with new tools (AI, data, digital) while not losing the core human attributes of judgment, ethics, client relationships.
— Jennifer Leary, CEO, CLA
It is hard to separate the two issues. A.I. will change the profession, but firms will not be able to implement A.I. without the capital investment. The cost will be staggering. Not just the cost of the technology, but the experts needed to manage the process to make it work. Firms who do not have the capital or who select the wrong A.I. partner will not be able to make the transformation and will be forced to merge, go PE, or accept outside investment.
— Bob Lewis, president, The Visionary Group
Dealing with the overwhelming amount of change across the profession, mostly driven by the consolidation of firms and the introduction of new technology options. The inability of firms to understand their M&A options due to the aging Baby Boomers, the influx of investment capital, and increasing operational costs is forcing many to rethink their ability to remain independent.
— Doug Lewis, managing director, The Visionary Group
I think there are a few key issues that are crosscutting throughout the profession and have to be mentioned in tandem with each other.
Technology demands adaptability
The explosion in new technologies like generative AI and, around the corner, agentic AI, is changing the way we work and how we consume information. Accountants must understand the rigor of accounting as well as appreciating the critical role they play in providing confidence and trust in company financials and other decision-useful information as these new technologies play an ever-larger role in our businesses. To continue fulfilling this role, accountants must be numbers people, advisors, and tech-forward to remain relevant.
Regulatory and political uncertainty
Ongoing debates about regulation and oversight of the profession, the scope of audit requirements, and implications of deregulatory priorities affect not just firms, but also the attractiveness of the profession to current and future talent. Uncertainty makes retention harder at precisely the moment when the profession needs stability and long-term planning.
Replenishing the Pipeline
A healthy pipeline of accountants is essential to the profession's ability to fulfill its public interest role of delivering transparency and accountability when it comes to business operations and our capital markets. While we have made some progress, we can't take our foot off the gas. The brand of the accountant is not where it needs to be to attract new, diverse talent.
— Julie Bell Lindsay, CEO, The Center for Audit Quality
Adapting to new technologies that will soon render much of the daily work they do meaningless. Accountants will need to transform from tax preparers and financial statement producers to true business advisers that help their clients grow and profit. Our profession is about to be significantly disrupted and our smartest professionals are already preparing.
– Gene Marks, CEO, The Marks Group
Adapting quickly enough to technology change is arguably the biggest issue currently facing the accounting profession. Technological innovation - from AI to automation, cloud platforms and advanced analytics - is here and is transforming how the profession works. Firms that fail to keep up risk falling behind in efficiency, accuracy and value delivered to clients. Balancing investment in technology, training staff and maintaining rigorous professional standards is a complex challenge. Those firms and professionals that can embrace change proactively, rather than reactively, will not only survive but thrive - turning technology into a driver of insight, strategic decision-making and enhanced client trust.
– David Marquis, CEO, Caseware
The most pressing issue facing the accounting profession today is attracting and retaining the next generation of talent. Outdated perceptions of accountants, a declining interest among young people in attending college, and concerns about rapid technological changes affecting the workforce are discouraging individuals from entering and staying in the profession. We need to shift the narrative around the value of the CPA, highlight the numerous career opportunities and pathways available, and foster inclusive environments to ensure we have the talent we need.
– Jessica McClain, chief financial officer, American Staffing Association
The biggest challenge is attracting and retaining talent. It can be difficult to communicate that work in accounting can be exciting, enjoyable, and rewarding. Justice-focused forensic accounting can be life-changing for clients, and our firm lives by the motto: "Making a Positive Difference"—impacting as many lives as possible in meaningful ways.
– David McLaren, founder & managing partner, McLaren & Associates CPAs
The profession's most urgent challenge is business model transformation. Shifting talent needs, rising client expectations and the acceleration of AI are forcing firms to reimagine how they deliver value. The question is no longer whether compliance-based services will be disrupted, but how quickly firms can reinvent themselves as advisory-first organizations.
The profession must address three imperatives simultaneously:
- Redefining the CPA brand from compliance to trusted business advisor.
- Modernizing practice areas with technology that drives efficiency, quality and insights.
- Building new career pathways that attract, retain and inspire the next generation of talent.
– Kalil Merhib, EVP, growth & professional services, CPA.com
Our profession's greatest challenge is rediscovering its purpose. We've mastered compliance but lost connection. Burnout, outdated pricing models, and talent shortages aren't the root problems - they're symptoms of a profession that's forgotten its "why."
Too many firms still trade hours for dollars instead of outcomes for impact. To thrive, we must redefine value by blending education, automation, and empathy. Accountants must evolve into trusted financial strategists who leverage AI and technology to enhance judgment, relationships, and results.
The future CPA isn't a form-filler or a technician - they're an advisor, educator, and life strategist. When we elevate the human behind the numbers, we elevate the entire profession.
– Jackie Meyer, founder and president, TaxPlanIQ
Uncertainty as to the role of GenAI tools and their effect on personnel needs. Many young people believe they will be replaced by AI. We need to help students and young professionals know how to effectively and responsibly use these tools to complement a high knowledge level they also need to use these tools appropriately. Fewer students are pursuing graduate education in taxation making them less able to effectively use GenAI tools. More discussion is needed among all stakeholders on changes to education for accountants, work expectations, career advancement avenues and the future of the profession.
– Annette Nellen, professor and director, SJSU MS Taxation Program, San Jose State University
The most critical issue currently facing the accounting profession is the lack of diversity of thought. A pipeline built around one academic path filters out people who think differently. Cognitive diversity matters. Studies show it speeds problem-solving and guards against groupthink, which is essential to maintain our core values of independence and objectivity. The fix is to open more doors and invite more kinds of thinkers. States are starting to add experience-based paths to licensure. Expanding routes into accounting, recruiting beyond traditional majors, and delivering compelling continuing education will bring the fresh ideas needed to raise quality and accelerate innovation.
– Blake Oliver, founder and CEO, Earmark
The most urgent issue is AI adoption and trust. I don't mean whether AI will replace accountants. Rather, this is about accountants stepping into our leadership role as translators, advisors, first financial responders and being fully, unapologetically HUMAN. If we keep clutching compliance like a security blanket, we'll write ourselves out of the future.
Meanwhile, fintech and outside money are circling. Venture-backed platforms don't care about the CPA brand; they care about owning the client. They're moving fast, pouring millions into tech that can out-automate us, and if we keep playing small, they'll define "accounting" without us.
This is our wake-up call. The only way we stay relevant is by claiming the space that can't be commoditized, and that's advisory leadership, powered by AI and anchored in human trust. That's the new frontier for those of us brave enough to take it.
— Jody Padar, co-founder, XcelLabs
The most pressing issue is not AI or talent shortages on their own, but whether the accounting professionals can redefine their value before technology quietly erodes it.
Automation and AI are rapidly removing repetitive work, but unless firms redesign roles and culture, the profession risks becoming less attractive to the next generation.
As technology becomes more and more "knowledgeable" about what was accountants' expertise till now, the threat of technology eating into revenue streams of not just lower-end work but also analytics-driven work that accountants do. It may not happen as an overnight shock to the system, but it will gradually occur and won't be noticed easily until it starts hurting.
The challenge, therefore, is to create accounting services and careers that are strategic, fulfilling, and human-focused. Clients will need advisors who can translate data into meaningful contextual guidance, and young professionals would want work that makes a difference. Bridging these two demands is the most pressing issue currently facing the accounting profession and will determine its future.
— Hitendra Patil, CEO, Accountaneur
While many people will say that the most urgent challenge is talent, I will take it a step further: the most urgent challenge is pay. Raising starting salaries is the single fastest lever to stabilize the pipeline, both attraction and retention. Students explicitly cite pay gaps as a reason for disinterest in the profession: recent CAQ research on the pipeline found that 29% of students said other majors with higher starting salaries was a major reason for not majoring in accounting, while 61% said it was part of the reason. Until entry-level accounting pay is competitive with adjacent fields, we will continue to lose the pipeline battle, even if we streamline 150 hours, modernize curricula, and improve the workload.
– Lindsay Patterson, CEO and co-founder, CPA QualityPro
Increasing reliance on information technology, and the increasing complexity, risk and pace of change in global markets, largely driven by exponential advancements in IT development in areas like blockchain and digital assets and AI.
– Amy Pawlicki, VP, assurance and advisory innovation, AICPA
The biggest challenge is that the world is moving faster than our profession has historically been used to. Clients are more global, risks are more complex and technology is advancing at a pace that's rapidly reshaping every industry.
For accounting, this isn't just about keeping up with new tools or regulations, it's about relevance. Businesses and capital markets are looking to us for insight and assurance in areas of escalating importance: AI-enabled decision-making, sustainability reporting, cybersecurity and geopolitical volatility. At the same time, the next generation of talent is questioning whether our profession can offer the kind of modern, purposeful careers they're seeking.
In short, the issue is whether we can adapt quickly enough to remain indispensable in a global economy that will only keep accelerating. This means we need to rethink models of service delivery, invest in people and technology and attract new talent by broadening the definition of what our profession is all about. And, of course, we need to always remember that quality is at the core of what we do.
– Jim Peko, CEO, Grant Thornton
Maintaining trust and enhancing quality as new technologies are rapidly deployed. While GenAI and new technologies offer unprecedented opportunities for efficiency and innovation, they are also introducing new complexities and risks, particularly concerning security and ethical considerations. Against this backdrop, the demand for independent assurance that these systems are reliable, secure, and compliant is growing more crucial than ever.
As auditors, our responsibility is two-fold: First, to provide critical oversight that helps our clients scale these technologies ethically and responsibly. Second, to lead the way in establishing the robust governance and assurance frameworks that will underpin trust in the AI age. Meeting both aspects of this challenge is fundamental to our profession.
– Christian Peo, vice chair, audit and assurance, KPMG
It hasn't changed that staffing challenges continue to be an issue, but that has likely taken a back seat to technology changes (AI). The new artificial intelligence platforms (ChatGPT, etc.) are particularly useful in industries that are data heavy like accounting. All that data must be reviewed, analyzed, sorted, and turned into reports/tax returns/advice. The industry will achieve considerable efficiency through the use of these new innovations.
— Scott Peterson, VP of government relations, Avalara
The most pressing issue facing the accounting profession today is solving the talent equation: rethinking how we attract, develop, and retain people in a rapidly changing environment.
Public accounting has made progress, but it still struggles to be seen as a compelling long-term career path for top students. Long hours, opaque pay structures, and outdated advancement models have created an image problem that's increasingly hard to overcome. At the same time, AI and outsourcing are disrupting the traditional talent pyramid, automating lower-level work and forcing firms to evolve toward a model that prizes advisory skill, technical acumen, and authentic human connection.
The profession's future depends on whether we can redesign the employee experience into one that combines fair compensation, meaningful work, and growth opportunities to make accounting not just a first job, but a lifelong profession of choice.
– Dominic Piscopo, founder, Big 4 Transparency
The influx of Private Equity (PE). This will have far-reaching ramifications – both good and bad.
– Brannon Poe, founder, Poe Group Advisors and The Accounting Practice Academy
With the soaring demand for Client Advisory Services (CAS) and other accounting solutions, one of the most pressing challenges we face is scaling effectively to meet this demand. Recruiting the right talent is critical – not just to fill roles, but to build teams that can help deliver high-value, strategic guidance to clients in a rapidly evolving landscape.
Attracting new professionals to our field must be a top priority. We need to proactively highlight the dynamic opportunities within accounting – not only to college students exploring career paths, but also to professionals in private industry who may be seeking to broaden their horizons. The profession today offers far more than traditional bookkeeping or compliance work; it's a gateway to strategic advisory, technology integration, and business transformation.
AI is accelerating this shift. From automating routine tasks to enabling deeper data analysis and predictive insights, AI is reshaping how we deliver value to clients. It's also redefining the skills we seek in new hire curiosity, adaptability, and a comfort with technology are now just as important as technical accounting knowledge. As AI continues to evolve, our teams must evolve with it, embracing innovation while maintaining the human touch that builds trust and helps drive client success.
To meet these challenges, we must foster a culture that empowers professionals to grow, innovate, and lead. Creating an environment where team members feel supported and inspired is essential not only for retention, but for delivering world-class client service. As I said before, mentoring emerging CAS professionals is one of the most fulfilling aspects of my journey, I remain committed to help shape the next generation of leaders in our profession.
— Kane Polakoff, partner, client advisory services practice leader, global consulting solutions, CohnReznick Advisory
I believe that accounting, like internal audit, is faced with the challenge of attracting a strong pipeline of talented students into the profession. While this is not a new challenge, the rise of technology has raised the bar for the skills professionals need to be effective while, simultaneously, competition for these candidates has become more intense.
For both professions, this presents a unique opportunity to take a step back and reflect upon the benefits of pursuing it as a career and how that would resonate with a younger demographic. One main area to address is improving how we connect practice to academia and providing a first-hand perspective on what a career in internal audit entails.
The IIA has done extensive research to provide us a data driven roadmap to address this challenge. We believe that there is a clear opportunity to broaden outreach to candidates to encompass graduates from diverse degree programs while educators work with their academic institutions to increase the pool of internal audit graduates. While there are important differences between the pipeline pressures that accounting and internal audit face, I believe that there is also overlap in the potential solutions.
— Anthony Pugliese, president & CEO, Institute of Internal Auditors
It would be easy to just point to the involvement of PE and PE-type firms investing in CPA firms. However, I think the more fundamental issue is the effect that investment by PE and the involvement of PE in the strategic direction of CPA firms is having on the culture of CPA firms. It is clear that the partnership form (not necessarily the legal entity form) of operating is being replaced by a more corporate culture. I think that change has the potential to create much higher performing firms in the future, i.e., firms that are not burdened with the restrictions partner-governed and undercapitalized firms traditionally have had.
— Terry Putney, senior managing director, Whitman Transition Advisors
Redefining the work of the entry level accountant with the onset of stronger AI tools. I see this as an issue but more importantly a huge opportunity. People with degrees in accounting don't want to do the work that AI can do anyway, let's get them trained up to provide more value to users of accounting data: analysis, recommendations, considerations. Let's teach them stronger interpersonal and communication skills to influence business decision making grounded in data.
— Kristen Rampe, managing partner, Rosenberg Associates
Upholding trust, independence, and integrity within the profession as new firm models emerge (e.g., private equity ownership, multidisciplinary practices)
— Okorie Ramsey, vice president, Sarbanes/Oxley
The most important issue facing the accounting profession is the need to embrace technological advancements to maintain our position as trusted advisors within the business community. This is especially critical to transform the audit process, where technology can be leveraged to enhance audit quality and efficiency.
– Emily Remington, director, audit product management, CPA.com
The biggest issue is proving the enduring relevance of accountants in an AI-driven world. AI can process data at scale, but it cannot understand context or intent. The profession must lead in demonstrating why human expertise still matters. Accountants need to embrace AI as a collaborator that amplifies their judgment, not as a threat.
– Wenzel Ryan Reyes, head of methodology, audit solutions, MindBridge AI
Two key priorities come to mind. First, the profession must embrace the rapidly evolving role of technology, integrating it thoughtfully into our practice to enhance how we serve both internal and external clients. Second, we must invest in cultivating the next generation of professionals—illuminating the dynamic and diverse roles we occupy, and forging a clear path forward grounded in evidence, experience, and actionable insight.
– Miklos Ringbauer, principal/founder, MiklosCPA
For public accounting, it's the outdated CPA-firm business model. Hourly billing and charge-hour goals—long embedded in CPA culture—no longer align with the realities of technology-enabled efficiency and have never aligned with the way buyers assess value. The belief that "we sell time" disconnects professionals from the true worth of their work and the purpose behind each engagement. Encouragingly, more firms recognize this misalignment and are learning how to employ worth-based pricing and greater scope definition and project-management discipline.
— Michelle Golden River, CEO, Fore LLC
Capacity in firms seems to be the most pressing issue to me. There currently is more work than the profession can seemingly get done.
— Darren Root, co-founder, Better Everyday
This year, it's impossible to name just one issue. There are three:
- The CPA industry's dire shortage of staff. Because of this, the fundamental economic principle of supply and demand has occurred: Demand strong; supply short; result is increased prices, less capacity and a great deal of frustrations by partners. This might be well and good for CPA firms but it is making it difficult for individuals and small businesses to find a quality CPA firm they can afford.
- Private equity, arguably one of the biggest game changers in the history of the profession. To date, it has causing several hundred CPA firms to sell out to PE firms due to prices being paid which are 1.5 to 2.5 times what CPA firms were previously sold for. Instead of 44,000 CPA firms today, will we have just a few hundred multi-partner firms sometime in the near future?
- Artificial intelligence. The future is unknown but the impact on the profession is unspeakable.
— Marc Rosenberg, managing partner and founder, Rosenberg Associates
The ability to attract and elevate staff and keep up with the rapid pace of technology change is crucial for meeting expectations and protecting the profession. With fewer people entering the profession, those who do must be smarter and faster.
It is crucial for the accounting profession to embrace technology and new ways of working—not only to attract and develop talent in a shrinking CPA market, but also to strengthen the profession's role as trusted advisors. By leveraging innovation, accountants can deliver the expert guidance clients need to grow and shape their businesses.
– Cathy Rowe, senior vice president and segment leader, U.S. professional market, Wolters Kluwer Tax & Accounting North America
While the profession faces many challenges, the most urgent from my vantage point is talent, specifically how we attract, retain, and advance people in a way that creates lasting belonging. I realize others will point to technology, regulation, or private equity, but this is the issue I know best. The pipeline is already too small, with fewer students pursuing accounting. Too many of those who do enter leave within a few years because they don't feel seen, supported, or able to advance. I have seen firsthand how firms risk losing ground when they scale back on DEI under political and cultural pressure. Belonging isn't a "soft" issue; it directly affects engagement, productivity, and ultimately whether firms have the leaders and capacity they need for long-term growth. Without inclusive workplaces where people see a future for themselves, the profession will continue to struggle. Its future hinges on building cultures that not only recruit new talent but give them real reasons to stay.
— Bonnie Buol Ruszczyk, president, BBR Cos. and Accounting MOVE Project
The most pressing issue facing the accounting profession today is the intersection of talent and technology. The profession continues to face a significant talent shortage, while rapid advances in AI and automation are reshaping how work gets done. The challenge lies in ensuring AI is used to enhance human expertise, not replace it. By redefining how we attract, train, and empower the next generation of professionals to lead alongside technology, we can preserve the integrity and human judgment that sit at the heart of this profession.
— Guylaine Saint Juste, president & CEO, NABA Inc.
Artificial Intelligence and updating the curricula in secondary and higher education to reflect the new direction of the profession – where technology will handle the majority of tasks done by junior and staff-level accountants. Gen Z and Gen Alpha graduates need an entirely different skill set to thrive in an AI-powered world. We must focus heavily on critical thinking skills, leadership and soft skills to empower them to step into higher-level roles upon graduation. Artificial Intelligence must be part of the learning path and we must move quickly.
– Heather Satterley, director of education and media, Woodard
The most important issue facing the accounting profession in one word is simply staffing.
It is no secret with the bursting of the baby boomer bubble, we are losing so many great leaders to retirements or reduced schedules coupled with the profession still strained with not enough newly minted college graduates with degrees in accounting for all the open roles needed for onshore client service delivery. While the profession can leverage off shoring staffing models and implement a best-in-class tech stack to handle more client services with the same number or fewer onshore staff, we still need to be cognizant of the need to be recruiting, retaining, and mentoring our NextGen Thought Leaders that will be running practices and executive committees for accounting firms once they are 15 to 18 years out of college. We need to be out at high schools and colleges, getting students excited about what a career in public accounting can be with rewarding careers in niche areas from tax advisory services to forensic accounting. I have been mentoring and guest lecturing at select schools across the country for this very reason as a firm's greatest assets are its people. We must properly recruit, retain and mentor our people as our fiduciary duty is to the firms we work for and the clients that we serve to ensure proper client service delivery, risk mitigation, and a continual and seamless succession plan to ensure a firm's long-term success.
— Peter Scalise, national partner-in-charge, federal tax credits & incentives practice leader, SAX
The biggest issue is the reluctance of many auditors to challenge the status quo and do things differently. While many talk about the need to change, few are willing to push the needle to truly be progressive. Being progressive as an auditor means providing value beyond the audit report. Clients receiving value they were not expecting and typically do not receive from an audit is a huge competitive advantage. If auditors don't move quickly in this direction, they risk becoming irrelevant, commoditized, and possibly going out of business.
Most firms still take their lead from the big methodology providers instead of allowing their people to brainstorm and try new techniques. While changing methodology takes time, the time invested upfront will be an annuity in terms of efficiency and added value moving forward.
When we work with firms, we recommend simple actions such as doubling the time spent planning an audit or any engagement. A firm that spends eight hours planning an audit when its competitor spends only half an hour can receive a tremendous ROI on the back end. Another way to provide value is to spend 20 minutes brainstorming ways to deliver success to a client. This simple exercise separates a firm from most other firms so much that a client will not care what the fee is.
We also recommend that accountants ask their clients about their businesses. What drives this business? What do the leaders care about? What makes this business a better option than others in the market? By focusing on that, we can drive a tremendous amount of value.
Instead, auditors spend their time testing details and transactions, which doesn't help the client improve their business or differentiate the audit they provide from others.
– Corey Schmidt, partner and director of audit innovation, Accountability Plus
The profession is at a crossroads, struck by the confluence of a catastrophic talent crisis, a foundational technology shift, and PE-led consolidation. Together, these forces are completely altering the day-to-day job experience, the shape and size of accounting firms, and their clients' expectations. Navigating the next few years will seriously test the change management capabilities of firms of all sizes: those who adapt quickly by moving to AI-native workflows and up-leveling their staff have an opportunity to dramatically outcompete the laggards. While there is no risk of AI replacing accountants, the list of the Top 100 firms in 2030 will likely look quite different than it does today, reflecting those who seize the opportunity to embrace automation and capture marketshare from those who don't.
– Jeff Seibert, founder & CEO, Digits
The ability to leverage advanced technologies will shape the relevance and attractiveness of the profession. We're well past the stage of simply adapting to new tools; our challenge now is to fully embrace them and harness their potential. For a standard-setter like the IAASB, we need to see that the opportunities outweigh risks, which do exist as well. We need to work with accounting professionals, regulators and other standard-setting bodies to develop a balanced and well-considered approach.
– Tom Seidenstein, chair, International Auditing and Assurance Standards Board; co-CEO, International Foundation for Ethics and Audit
The shortage of tax talent is overwhelming. It is common to hear that there is a shortage of accountants, but the truth is there has always been a shortage of corporate tax accountants. If fewer people are going into traditional accounting jobs, then the number is staggeringly diminished in the corporate tax space.
– David Sekula, CEO/executive director, Global Tax Management Inc.
The most important issue facing the accounting profession today is the integration of AI and its impact on all aspects of the field. Alongside this, the profession is also grappling with challenges around capacity, maintaining quality, and ensuring that practitioners develop the evolving skill sets required to remain relevant and effective.
— Gary Shamis, CEO, Winding River Consulting
Today, the search for talented professionals is one of the most pressing challenges in the accounting field. Every business, regardless of its size or industry, relies on a trusted accountant—whether employed internally or as an external advisor—to serve as a key leader in decision-making processes. The importance of accountants in guiding organizations cannot be overstated.
As a profession, there is a need to shift the conversation toward the engaging and dynamic nature of the work accountants do. Accountants have the opportunity to participate in a wide array of interesting transactions, making their roles both diverse and impactful. Rather than focusing solely on the number of hours worked, it is beneficial to highlight the meaningful contributions accountants make within their organizations.
It is important to recognize that every career—whether as a doctor, firefighter, minister, rabbi, or farmer—demands hard work and dedication to achieve lasting success. Accountants are no exception. Becoming skilled in the profession requires a commitment to learning and a genuine care for clients, customers, or other stakeholders.
In addition to the professional satisfaction that comes with being an accountant, the field offers the opportunity to build a healthy middle-class lifestyle. Accountants can create stable and rewarding lives for themselves and their families, combining professional achievement with personal well-being.
– Jere Shawver, chair, Private Company Council
I believe the most critical is accountants being reactionary to political forces. During this volatile time, it is even more important that we, as accountants, uphold our code of ethics and ensure that we are helping our clients (internal and external) and constituents approach issues from an objective and holistic lens. The balancing of profit with environmental, social, and governance (ESG) considerations will transform us from financial/tax advisors to business advisors/personal success coaches.
— Donny Shimamoto, founder and managing director, IntrapriseTechKnowlogies LLC
AI is reshaping the accounting profession in profound ways, bringing both disruption and opportunity. With the automation of routine tasks and its ability to analyze datasets quickly with high precision, AI presents the opportunity for CPAs and finance professionals to focus on higher-value work like advisory services which can help them differentiate their firms and create new revenue streams.
— Eva Simpson, VP, member value, tax & advisory services, Association of International Certified Professional Accountants
The most important issue currently facing the accounting profession is the need to adapt to an environment of rapid and continuous change. Technology is evolving at an unprecedented pace, reshaping how firms deliver services and interact with clients. Artificial intelligence, automation, and data analytics are no longer optional - they're essential for maintaining competitiveness and meeting client expectations. At the same time, talent dynamics are shifting. Firms must attract and retain professionals who not only understand accounting fundamentals but also possess technological fluency and strategic thinking skills.
Adding to this complexity are changes in business structures and capital needs. Firm leaders are under pressure to make swift, informed decisions about how to align with strategic plans, access capital, and deploy resources effectively. They must also create cultures that foster engagement, flexibility, and innovation to keep top talent motivated. Balancing the priorities of technology adoption, talent management, and structural agility while maintaining quality and compliance is the defining challenge of our time.
— Lisa Simpson, vice president – firm services, AICPA & CIMA
Leverage.
AI matters and is here. However, what is most important is the leverage that AI will unlock. Firms will be able to add a new layer to the classic leverage model. Agentic AI will be this layer and take on repeatable, no-judgement work, at every level. If treated as additive, rather than dilutive, AI will expand capacity at each layer of the leverage model while tasks are pushed down to an agent. This capacity can then be used to deepen client relationships, develop business, perform higher-value work, and maybe even spend more evenings having dinner with the family.
The risk is mistaking this capacity for a reduction in headcount or hiring. If firms simply cut or stop hiring, they'll erode the bench that grows future leaders and destabilize client delivery. The smarter play is to reinvest the freed hours into quality, advisory, training, and development. Used this way, AI doesn't replace people, it amplifies them and strengthens the firms' long-term economics.
– Douglas Slaybaugh, owner and founder, The CPA Coach; chief growth officer, uiAgent
If I had to identify the single most important issue facing the accounting profession today, it would be our ability to adapt to the rapid convergence of technology, policy, and practice. Technologies like artificial intelligence, blockchain, and cryptoassets are no longer on the horizon—they are here, and they are already changing how financial information is created, verified, and reported. At the same time, regulatory frameworks are struggling to keep pace. Whether it's the FASB's work on cryptoasset standards, the SEC's evolving guidance, or new legislative proposals like the GENIUS and CLARITY Acts, the rules are shifting as quickly as the technology itself.
For me, the real challenge—and opportunity—lies in how we as a profession respond. We cannot treat these changes as side topics or niche interests. They go to the very heart of what it means to be a CPA: trusted, relevant, and forward-looking. On one side, that means rethinking education and professional development so that students and practitioners alike are fluent in these technologies rather than intimidated by them. On the other side, it means stepping up to help shape the policies and frameworks that will govern their use, ensuring that innovation is matched with transparency, accountability, and integrity.
In short, the most important issue is not the technology itself, but our willingness to evolve alongside it. If we get this right, the profession can reaffirm its role as the trusted source of clarity in an increasingly complex financial world. If we hesitate, we risk being left behind.
— Sean Stein Smith, accounting working group chair, Wall Street Blockchain Alliance
The impact of artificial intelligence (AI) and emerging technology and how it is reshaping how firms deliver value, streamline processes, and serve clients in profound new ways. It is imperative for the accounting profession to adapt to remain relevant, which is why I am so passionate about this topic. Here is a recent post I wrote on the topic of AI.
– Chris Spurio, president, CBIZ Financial Services; senior vice president, CBIZ Inc.
Firm ownership and lack of succession plans. Most firms do not have a plan let alone a good one.
– Val Steed, director accountants, Zoho Corp.
- The collision of AI and PE.
- Not AI alone. Nor PE alone. But combined with broader demographic, technological, and economic trends, the nexus of AI and PE is proving to be the biggest catalyst for change in the profession in this century.
— Rick Telberg, founder & CEO, CPA Trendlines Research
The most important issue is sustaining independence and relevance in a rapidly consolidating, capital-intensive environment. Private equity, talent shortages, and technology disruption are reshaping the profession all at once. The question is: will firms have the courage and the structures to adapt—whether through new capital models, new services, or new approaches to leadership—without losing the trust that the CPA brand has always represented?
— Gary Thomson, managing partner, Thomson Consulting
The most important issue facing the accounting profession today is navigating a rapidly changing landscape that challenges the very definition of a "firm." Traditional CPA models are being reshaped by consolidation, private equity investment and technology-driven entrants that don't look or act like legacy firms. At the same time, fintech platforms are moving upstream, competing not only for basic 1040 compliance work but for the more complex business services that are the bread and butter of CPA firms today.
Remaining independent now requires more resources than ever before and it demands reinvention. Accountants must learn to differentiate through insight, experience and human connection. The firms that will thrive are those that embrace innovation, leverage AI intelligently and redefine advisory around trust, empathy and outcomes.
In short, the profession's greatest challenge is developing the mindset and skills to lead through all the change.
– Katie Tolin, co-founder, XcelLabs
The profession's defining challenge is the leadership gap — not in technical expertise, but in adaptability, vision, and courage. We're entering an era where firm success depends on how effectively leaders can align digital transformation, talent strategy, and culture.
Many firm leaders were trained in a static model — one that rewards precision and stability. But today's profession demands leaders who can navigate ambiguity, empower innovation, and lead people through rapid change. The firms that thrive will be those led by individuals who can merge business acumen with human understanding and digital literacy with strategic foresight.
— David Toth, chief growth officer and managing principal, Winding River Consulting
Pace and significance of change. Whether it's the rapid acceleration of new technologies and capabilities, the emergence of alternative practice structures, ongoing firm consolidation and growth, evolving regulatory and legislative landscapes and standards — the only constant is change.
Firms are challenged not only to keep up with these developments, but to adapt and innovate to capitalize on the opportunities they offer. Success in the future will require agility, a commitment to continuous learning, and a willingness to rethink traditional models to meet the evolving needs of clients and the marketplace.
– Rob Trexler, director, audit professional services, CPA.com
The profession faces three intertwined challenges:
a) Balancing automation with trust
AI, bots, and cloud tools have revolutionized efficiency but without human judgment, technical and professional knowledge and education, empathy, and strategic context, the profession risks becoming transactional and replaceable.
b) Becoming enablers, not gatekeepers
Too many accountants default to rigidity. Clients deserve options, not cookie-cutter solutions. We must present well-reasoned choices and empower better decisions especially in areas like tax planning, entity design, and funding strategy. We know the best practices from our clients who do great, not just in accounting or tax planning, and it's our obligation to guide our clients into those operational best practices as well.
c) Learning and adapting — fast
Technology, regulation, and client expectations are changing rapidly. Accounting firms must become learning organizations - adopting smarter ways to help clients raise capital, scale, collaborate globally, and stay compliant. The old playbook no longer works. We know the latest collection systems, processes, we know the changing business challenges and we must educate our clients also on business and processes.
And finally, global complexity is now a defining issue. From e-invoicing to real-time tax reporting, global founders need firms who are digitally fluent, globally aware, and client-obsessed. Few are prepared but the need is growing.
– Cenk Tukel, founder and CEO, Tukel Accounting
I have always believed that our profession is built on our people and our biggest challenge is and always will be our people. The profession has to do a better job of attracting and keeping the next generation of talent, while also modernizing the way we present ourselves. We started as a compliance-driven industry, but today our real value is built on relationships—helping clients navigate complexity with clarity and trust. Technology like AI and automation will change how we work, but it can't replace the human connection at the center of what we do. If we use it correctly, it should give us more time and capacity to focus on people—the reason most of us have stayed in this profession for decades.
– Josh Tyree, CEO, Sorren
How to integrate AI without losing skills gained performing the tasks generally performed by people entering the profession.
– Barbara Vanich, chief auditor and director of professional standards, PCAOB
The overwork culture that continues to erode the talent pipeline. Long hours and outdated structures are driving bright people away faster than we can replace them. Until the profession commits to meaningful workload reform and modern work models, recruitment and retention will remain our biggest challenge.
— Chris Vanover, founder & president, CPA Club Inc.
We're hemorrhaging talent and not able to sustain and remain independent, because our leadership model and mindset is broken. What worked 30 years ago, no longer works today.
Everyone talks about the "talent shortage," but that misses the point. We're losing people, especially experienced accountants, because the traditional always-on model doesn't work anymore. And honestly, it never really worked. We not only normalized burnout, we rewarded it.
I have observed that some leaders who inherited this model have such engrained belief systems that limit their ability to change it. They worry that setting boundaries means lowering standards. That flexibility equals less productivity. That caring about mental health is "soft". That "this generation" doesn't have the work ethic that they have.
With AI and technology trends consistently evolving and changing, human fulfillment is evergreen. But here is what I know to be true from audience members and people I consult with, we want to feel joy in our work and in our personal lives.
We need to fix how we lead, not just what benefits we offer. Otherwise we'll keep watching talented accountants walk out the door. When leaders allow themselves to be open to the process of changing their belief systems, the wellness programs thrive. It takes alignment between the leaders and the organization to create an engaged culture and higher retention, as well as, increased revenue and customer loyalty.
— Amy Vetter, CEO, The B3 Method Institute
Technology, especially AI, is rapidly changing industries – and our profession is no exception. Today, our auditors are enhancing audit quality and delivering deeper insights to clients with the assistance of AI and AI agents that are integrated into our global smart audit platform, KPMG Clara. Our KPMG Digital Gateway platform – a one-stop shop for our suite of tax and legal technologies – uses intelligent agents and generative AI capabilities to help clients navigate the changing legislative and regulatory environment. It's clear that AI agents will be embedded team members across organizations, underscoring the urgency to upskill employees and design systems to govern, manage and develop agents. As KPMG continues to adopt innovative technology and deploy new capabilities, we are maintaining a high level of professional skepticism and upskilling our people.
– Timothy Walsh, chair and CEO, KPMG
I believe ensuring our people are not only change-ready but truly change agile is essential right now. Not every organization will be able to weather the pace of change that is gripping our profession and the broader economy. Technology and AI tools will no doubt reshape nearly all our work, and perhaps especially for those early in their career. When you also consider how the pathways to licensure are evolving and the way contingent and project-based teams are augmenting the traditional workforce, you have a very different landscape than the one many of us have known for a long time.
It may seem paradoxical at first, but this is why I am so passionate about the partnership model: I believe the mentorship and learning-by-doing that have defined the profession for generations become even more meaningful in times of great change. Yes, it is important to invest in new technology and new ways to structure our workforce. But only the organizations that make equivalent investments in their people and cultures will meet this moment. Once again, it comes down to a stewardship mentality and ensuring our firm has a strong culture that compels us to excel always and remain relevant for decades to come.
— Tom Watson, CEO, Forvis Mazars
I alluded to this last year in my submission for Top 100, but I will reinforce it here after what transpired in Florida this year. Nothing else matters if we lose the CPA license. We are the guardians of trust and must protect the audit at all costs. As a profession, we can absolutely consider AI, automation, private equity, or the expansion of licensure pathways as the most important issue facing the profession right now. My response would be – if we don't protect the audit and our license first and foremost – we lose all value.
– Shelly Weir, president & CEO, Florida Institute of CPAs
I would say both creating a reliable pipeline for our profession's future talent, and embedding emerging technology into our profession in a way that allows accountants to deliver critical and trusted services.
– Lee White, CEO, International Federation of Accountants
Maintaining the human element while embracing technology. I think we run the risk of losing our identity and our connection to our clients as we see more firms becoming part of Private Equity (and focusing on revenue growth) and harnessing AI and other technology to become the interface between us and our clients. In an age where everyone has access to AI, it is the human element and things like listening, curiosity, and empathy that will set us apart.
— Geni Whitehouse, president, Information Technology Alliance
Clearly, talent acquisition. While 2025 has seen an uptick in college enrollment in accounting programs, according to the NYSSCPAs, over the past decade, the number of accounting graduates dropped by about 17% and the pool of CPA candidates fell by 27%. Furthermore, most recent AICPA survey data, shows approximately 70% of CPA firm owners and equity partners in the US are baby boomers. This not only further exacerbates the "who's doing the work problem" but also puts significant stress on the future leadership bench for CPA firms. Ultimately artificial intelligence will help combat these challenges, however, we are still a couple of years away from meaningful talent reduction technologies as related to the core work in CPA firms.
— Philip Whitman, CEO, Whitman Transition Advisors
Many people believe the biggest issue in our profession right now is shifting to more advisory work or figuring out how to effectively use AI. Those are important, but the real challenge is Change Leadership. Our profession, like every business today, faces constant new disruptions. What we need most are leaders at every level who know how to navigate change and use their influence to create positive, lasting and sustainable progress. The firms that will survive and thrive promote and support leaders who truly understand the process of change and lead their team through that process.
— Sandra Wiley, president, Boomer Consulting Inc.
Short-timers. There's a burgeoning number of Boomers looking to the horizon with the intent to maximize the value of their retirement nest egg even if it means trading tomorrow's potential for today's payout. This "me-first" mentality has never been at the forefront of our profession, which has instead demonstrated a long-standing history of conscious capitalism, where all stakeholders -- the public, clients, talent, the communities in which we work, the profession, and then shareholders all win. Today, we are witnessing an unprecedented number of transactions at rapidly accelerating valuations and speed. I believe that many of these will lead to immense pressure for the investors to produce considerable returns by transacting again in the near future (5-ish years). While many herald this influx of new investors and cash as finally making leaders run their firms more like businesses, it seems instead to be helping the largest shareholders secure significant payouts, and driving unrationalized mergers and acquisitions at a pace that will make it very difficult to maintain cultures or put talent and clients first. If the "transformation" of healthcare through PE investment is any indication of where this will lead us, I fear our profession is in for some challenging times ahead.
— Jennifer Lee Wilson, co-founder and partner, ConvergenceCoaching LLC
Navigating the impact of AI, where AI is not only changing the way we work, but is also, I believe, one of the leading drivers of billions of dollars of private equity into the accounting profession. This private equity is creating, among other impacts, a massive and unprecedented level of M&A activity, but I believe the headwaters (or first cause) for all this change is AI.
— Joe Woodard, CEO, Woodard
I think the most important issue currently facing the profession is the technology imperative. Partnership governance makes it nearly impossible for legacy firms to move at the speed needed to be successful. Consider the many barriers keeping a legacy firm from advancing with technology. First, you need a partner group of varied ages to agree to take their compensation down to afford new technology spend. Second, you need talent with sufficient wherewithal to evaluate all the application options out there. Third, you need talent capable of integrating new applications into the firm's existing technology stack. Fourth, you need Learning & Development capabilities to train employees in new workflows and upskilling. I think the vast majority of firms will never make it through that gauntlet. In the meantime, firms with scale and the necessary capabilities will launch forward into a more technologically advanced world, positioning themselves to capture employees and clients from slow-moving legacy firms. The gap between the haves and the have nots will widen massively.
— David Wurtzbacher, founder & CEO, Ascend
One of the most pressing issues currently facing the accounting profession is succession planning for our most senior members, and ensuring that we have a pipeline of engaged, industrious young professionals. For the next generation to thrive, they will need to embrace the ever-expanding capabilities of technology that are intended to make our work lives more efficient, while also managing the risks that come with it. By the same token, the next generation will need to learn how to recognize when to step away from digital tools and prioritize in-person communication, especially in moments that call for human connection.
– Jamie Yesnowitz, partner, Grant Thornton Advisors
