WASHINGTON, DC, June 11, 2021 – The American Institute of CPAs (AICPA) today voiced its strong support for the Accounting STEM Pursuit Act of 2021 because it establishes the accounting profession as a STEM career pathway and supports long-standing efforts to create more diversity in the future accounting workforce. The legislation is an important step in recognizing the clear and logical connection between accounting and technology.
The bipartisan Accounting STEM Pursuit Act was introduced earlier today by Representatives Haley Stevens (D-MI) and Victoria Spartz (R-IN). In a letter of support to Representatives Stevens and Spartz, the AICPA, Center for Audit Quality, Diverse Organization of Firms, National Association of Black Accountants, Inc. and NAF said, “As the profession continues to evolve to serve in the public interest, the overlap with technology has become more and more prevalent…Our organizations believe that STEM recognition for accounting, coupled with the potential for such educational funding, will help to diversify and build a highly skilled and qualified pipeline of professional accountants in the United States.”
“The Accounting STEM Pursuit Act signals the importance of expanding the pipeline of a diverse accounting profession that supports industries across the United States. It also reinforces our digital-first efforts to educate, upskill and reskill the profession so the public’s, clients’ and employer’s needs are met,” said Susan Coffey, CPA, CGMA, CEO of Public Accounting at the Association of International Certified Professional Accountants. “The Accounting STEM Pursuit Act will promote more diversity, equity and inclusion in the profession, a goal that we strongly support and that is needed as the profession continues to assist our country’s economic growth and protect its interests.”
Accounting professionals’ use of technology reflects their role as trusted advisors to businesses, non-profits and individuals. For many years they have been using and applying advanced technology such as artificial intelligence and technology-enabled techniques to perform highly sought-after services. As the profession continues to evolve its services in areas like cybersecurity, information integrity and systems controls and its use of emerging technologies and techniques, such as blockchain and data analytics, the integration of this knowledge with quantitative reasoning skills enhances accountants’ ability to make informed decisions, solve complex problems and improve the delivery of services in the audit, finance and tax arenas.
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These resources provide more information about some of the proactive steps the accounting profession is taking to provide technology education and support:
About the American Institute of CPAs
The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 428,000 members in the United States and worldwide, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for its members and U.S. auditing standards for private companies, nonprofit organizations, and federal, state and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, builds the pipeline of future talent and drives professional competency development to advance the vitality, relevance and quality of the profession.
The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.
Media representatives are invited to visit the AICPA Press Center at https://www.aicpa.org/press