Ask any small-firm partner what keeps them up at night, and you’ll rarely hear “new standards” or “client fees.” You’ll hear: “I don’t have enough people.”
The shortage of accountants and auditors isn’t a temporary dip. It’s the result of experienced CPAs retiring, fewer students choosing accounting, and talented staff leaving public practice for industry roles with better hours. Large firms can absorb some of that pressure. Small firms feel every resignation.
The good news: the firms that are coping best aren’t just waiting for the hiring market to recover. They’re changing how they hire, how they keep people, which work they take on, and how much of the repetitive work they let technology handle. This post covers what’s causing the shortage, what’s changing, and the practical moves small firms are making right now.
Answers
Several pressures have combined: experienced CPAs retiring, fewer students choosing accounting, the cost and time of the 150-hour requirement, busy-season burnout pushing staff into industry roles, and competition for the same candidates from large firms and corporate finance teams.
Since 2024, a growing number of states allow candidates to become licensed with a bachelor’s degree plus two years of qualifying experience, as an alternative to the 150-credit-hour route. Rules and effective dates vary by state, so check your state board of accountancy.
Widen the pool to finance, economics and business graduates and career changers, recruit through internships before graduation, and offer a clear “earn while you qualify” route with exam fees, paid study time and rewards for passing sections.
Yes. Tools that standardize engagements, collect client documents in one place, analyze transactions and flag items that need attention free scarce auditor hours for judgment, review and client conversations. Auditors stay responsible for conclusions.
Selectively. Outsourcing routine tasks such as data preparation can add capacity quickly, but it needs clear instructions, strong quality review, and careful attention to data security and client confidentiality.
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