Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

Less Than 1% of CPA Leaders Surveyed Say Their Firms Can Hire All Necessary Staff Domestically, Leading to Increased Discussion About Employing Remote Talent Solutions


News provided by

alliantTALENT

Aug 02, 2023, 16:45 ET

Share this article

Share toX

Share this article

Share toX


alliantTALENT, a professional services firm delivering international remote talent solutions to US CPA firms, today released its '2023 Temperature Check.' The data confirms what was until now only anecdotally cited within the profession; that the CPA talent shortage is affecting the bottom line of firms, and that there is now widespread interest in remote talent solutions. The study, conducted online with Censuswide, an accredited third-party research firm, polled 250 US CPA leaders from small to medium-sized firms ($8M to $150M in revenue) and quantifies the business impacts of the CPA talent shortage, as well as near- and long-term solutions being implemented.

HOUSTON, Aug. 2, 2023 /PRNewswire-PRWeb/ -- alliantTALENT, a professional services firm delivering international remote talent solutions to US CPA firms, today released its '2023 Temperature Check.' The data confirms what was until now only anecdotally cited within the profession; that the CPA talent shortage is affecting the bottom line of firms, and that there is now widespread interest in remote talent solutions. The study, conducted online with Censuswide, an accredited third-party research firm, polled 250 US CPA leaders from small to medium-sized firms ($8M to $150M in revenue) and quantifies the business impacts of the CPA talent shortage, as well as near- and long-term solutions being implemented.

The dearth of available talent in the profession is already well documented. The Bureau of Labor Statistics estimated that 300,000 accountants and auditors quit their jobs in the last two years. The AICPA further reports that the number of those graduating with accounting degrees is declining every year, with a 2.8% decline in 2021 at the bachelor's level and an 8.4% decline at the master's level. This follows five consecutive years of decline.

“This talent gap has been looming over our industry for well over a decade," Jim Brady, CEO of alliantTALENT.

Post this

This issue has become so widespread that major industry and business news outlets cover it with increasing consistency, including Wall Street Journal, CFO Dive, Business Insider, Forbes and more. The most recent news is highlighting how this shortage really is affecting the bottom line of businesses.

"In my well over 20 years of working with several thousand CPA firms and their clients, the concerns around the ever-growing gap in accounting talent has become a resounding chorus. alliantgroup has worked with more than 4,000 CPA firms in it's 22-year history and I have personally seen these firms have to turn away work due to lack of qualified staff. This issue is top of mind with every firm we speak to," said Dhaval Jadav, CEO of alliantgroup which created alliantTALENT to provide remote talent solutions for firms outside of the top dozen CPA firms.

Looking Beyond Traditional Hiring Methods
The report further highlights the all-encompassing attempts by CPA firms to extract as much out of domestically based professionals as possible, even those that do not possess the traditional backgrounds that CPA firms prefer. Most of these firms continue to use tactics in an effort to ease hiring challenges.

"This survey data contains what we've heard from the CPA ecosystem for many years now – but it's getting more severe," said Subrata Bagchi, Senior Managing Director & COO of alliantTALENT. "Firms of all sizes are considering solutions to address the short- and long-term impacts of this CPA talent shortage. This spirit of action, and willingness to put solutions in place now, is what will ignite the change necessary to propel the accounting industry into its next era."

Completing the traditional industry standard of an extra 150 hours for accounting majors is a tough sell, so 75% of US firms surveyed are either considering, planning or are already employing workers without the extra graduation requirement. 74% of CPA firms surveyed are considering, planning or are already offering fully remote roles. Further, 79% of these firms are considering, planning or are already integrating more technology to execute baseline work.

Rapidly Rising Salaries
With so few accounting professionals in the field, CPA firms across the board are already paying a premium for qualified talent. To remain competitive in the labor market, 56% of CPA firms surveyed are expected to have to increase starting salaries by 11% or more, with an average increase of 14% reported. At the far end, 18% of CPA firms anticipate increasing starting salaries by an eye-watering 21-40%.

CPA firms are not only competing with themselves, but they are also competing with employers in other sectors. 27% of CPA leaders polled report that former staff moved outside the industry for higher pay.

"We have long said that raising industry pay is not THE solution. In addition to some of the key changes the data reveals, we really want to advocate for engaging future talent earlier to excite students about CPA career opportunities while ensuring promising growth and a sense of purpose for the life of their career," said Frank Tirelli, alliantTALENT's Chairman of Professional Services.

A Shift in Perception on International Talent
Less than 1% of firms surveyed believe they can find all the talent they need domestically, which has caused many to explore remote staffing options and services. CPA firms now realize that international talent solutions offer a new pool of highly qualified professionals that can alleviate obstacles that they are currently facing or to bolster their existing teams.

The majority of the US CPA firms polled are no longer dissuaded from using international talent based on what were previously cited objections. By working with accredited international staffing companies, CPA firms can source top quality international talent, some with over 20+ years of experience and Big Four credentials, alleviating workflow backlogs and saving up to 20-30% on labor costs on average. While in the past there may have been some doubts, the data shows an ongoing industry shift in perception.

Remote Talent Solutions Becoming the New Norm
To further confirm the changing perceptions, when asked directly if firms were willing to employ remote talent solutions, the answer was resoundingly positive. More than three quarters (76%) of all firms polled reported that they were either considering, planning or are already employing qualified international talent. Prior perceptions of these talent pools may have slowed adoption in years past, but the polling data shows the mindset of firms has shifted.

"Over my career, I have implemented international talent operations at Deloitte, Grant Thornton, and now at alliantTALENT. Almost 100% of the top dozen or so US CPA firms employ this strategy, saving them from the challenges felt by smaller firms. US CPA firms that have looked into remote staffing solutions are quickly learning that the talent in India equals that of US talent, and preconceived concerns are unfounded," said Jim Brady, CEO of alliantTALENT. "This talent gap has been looming over our industry for well over a decade, and demand for CPAs has grown as regulatory requirements have become increasingly complex. Compound this with veteran CPAs retiring in large numbers, and less new college accounting graduates filling their shoes. This picture will continue to grow even more challenging, and small and mid-sized CPA firms have much catching up on implementing these solutions."

About alliantTALENT
alliantTALENT, an alliantgroup subsidiary, serves as an extension of your CPA team providing quality talent to improve your business every step of the way. This seamless support allows firms to focus on growth again. We are a one stop shop that supplements the audit & assurance, tax, advisory and client accounting service practices of US CPA firms. Our solution is customized to your needs and ensures your standards of quality.

Methodology
The total sample size was 250 leaders in US Certified Public Accountancy firms aged 18+ at firms between $8M-$19.99M, $20M-49.99M, $50M - $99.99M and $100M-$150M in revenue. The survey was conducted from May 2-12, 2023. Censuswide abides by and employs members of the Market Research Society which is based on the ESOMAR principles.

Media Contact

Amber Allman, alliantTALENT, 713-513-8196, [email protected]

SOURCE alliantTALENT

Modal title

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.