the profession is gearing up despite the perceived threats of artificial intelligence and outsourcing.
by hitendra patil
client accounting services: the definitive success guide
the accounting profession is securing its future and growing its numbers.
in december 2022, an article in the wall street journal made headlines, stating that over 300,000 auditors and accountants in the u.s. had left the profession. people were all but ready to take stock.
more: twelve years and out: seasoned accountants join the exodus | jobs outlook: strong and steady growth in hiring and earnings for u.s. accountants | student accounting enrollment shows third year of recovery | cornerstone
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after the pandemic’s great resignation wreaked havoc on so many businesses, people were shocked, at least for a second, when this numbers-relevant story broke. it turned out the shock continued well beyond.
at the same time, the number of students majoring in accounting kept dwindling, resulting in a double whammy. accounting has come under scrutiny since then. from an increase in outsourcing/offshoring, the threat of artificial intelligence and a rapidly changing employment market, accounting has been in the hot seat, but not a good one.
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