Accountant Shortage Spurs Call for Alternate CPA Path, Pay Bump

Strict education requirements and stagnant pay deter aspiring accountants from joining the profession and staying in it. An industry proposal calls for big changes to fix these problems.

The proposal, released Tuesday, is the work of a group that a top accounting industry association convened last year to tackle the shortage of Certified Public Accountants, or CPAs.

Would-be CPAs should be allowed to earn equivalent college credit on the job, either through programs administered by colleges and universities or by a qualified employer, according to the group’s draft recommendations. Audit firms also need to step up pay for entry-level ...