Renewed Investment Needed to Ease Accountant Shortage in the Public Sector, Report Finds

AICPA and NASACT Urge More Competitive Pay and Fees for Government CPAs, More Support for Local Governments, and Reconsideration of Current Audit Rules

State and local governments are being squeezed by a shortage of accounting professionals, making it difficult at times to find staff CPAs who can prepare critical financial information or outside firms to conduct audits. Addressing this problem will require a multifaceted approach, including educating legislative bodies about the value of the CPA, offering competitive salaries for CPAs in government and fees paid to outside auditors, and reviewing the thresholds that trigger certain kinds of audits, according to a joint report by the American Institute of CPAs (AICPA) and the National Association of State Auditors, Comptrollers and Treasurers (NASACT). Click to read more.