Many people have been asking about the number of CPA in the US. It is indeed difficult to find the number from the internet, and the latest data I can gather is 2006:
The number of CPA in the US in 2006 stands at 646,520, versus 639,628 in 2003.
Source: AGA New York, NASBA
What The Number Of CPA Statistics Means To You
1. The number of CPA in this country is at a standstill
The increase in the number of CPA is a meager 1% for 3 years, which is like 0.3% on an annual basis. This is quite surprising given that the CPA exam pass rate has already increased quite remarkably during this period.
Source: Uniform CPA Exam website
In fact, the number of CPA is in a continual decline if you look at the statistics in the past decade. Again, I know it’s very old data, but is useful to show you the trend:
Source: CPA Journal, October 2004
Possible reasons include:
- The demise of Arthur Anderson may have tarnished the reputation of CPA
- New career alternatives, e.g. the internet start ups and emerging financial industries such as structured derivatives may have lured away a number of aspiring CPAs
But an academic research by Professor Nicholas Schroeder and Diana Franz argue that the increase in the education requirement (the 150 semester hour) for CPA exam candidates may have been the primary cause of the declining number of college accounting majors and new CPA exam candidates.
2. This is the best time to become a CPA in America
While the supply stays flat, the demand for accountants and particularly CPAs are increasing every year due to the recent new laws that address an improvement in financial integrity and scrutiny after the Enron bankruptcy in 2002 and the financial crisis in 2008.
The U.S. Bureau of Labor Statistics projected in 2006 that the employment of accountants will grow by 10 to 20 percent over the next 7 years on a national basis.
Other reasons to become a CPA include:
- CPAs Are Needed Everywhere
- CPAs Are Indispensable
- CPAs Are Paid Better!
For Your Further Reading
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{ 4 comments }
Hello, I would like to do a CPA which is recognised in Australia, could you please advise from which state I can get CPA certification in a short time.
Thanks and Regards
Zarif
Hi Zarif,
If that is the case, maybe getting a CA or CPA in Australia make more sense to you? I am not familiar with the requirements but from what I heard from my ex-colleagues the CPA Australia at least should be easier to get qualified than the one in the US.
but if you would like to get the CPA (US) title, then it really depends on your education requirement and to some extent the experience you have/would like to get down the road. Please take a look at this page on CPA exam requirements by state for details.
Stephanie
Back in 1986, I got an MBA from a US university (my undergraduate was in Economics) with the intention of getting a CPA afterwards. But the death of my father prompted me to return to my native country to take care of the family business.
Now, nearly 25 years later, at age 55, I have returned to live in the US (I’m a US citizen) and become a CPA. Is this a realistic goal?
What CPA review course (s) might be most suitable for someone in my situation? What state(s) would let me sit for the exam without having to take more accounting courses?
What general advice do you have for me?
Hi Mohamed,
I admire your determination! Wow!
I think this is doable. Things however have changed quite a bit in terms of the qualification. Most states require that you have a master’s degree or at least 150 credit hours of education. There are states that don’t require that (yet) and you can go to this page for as a start (that’s right — you don’t need to take the exam from your state). Why don’t you go there and take a look first, and ask any question that you may have?
In terms of review courses, here are my views on the top 10 review courses, but I suggest that you make sure you can get qualified to sit for the exam by completing the application form first.