Building the CPA Pipeline: A Faculty Perspective

By Judd Leach, Dr. Charles R. Thomas and Laura Gordey

The effects of the COVID-19 pandemic were many and widespread, but perhaps one of the most notable effects was what has become known as “The Great Resignation.” In 2021, 47.7 million workers quit their jobs, followed by 50.6 million workers in 2022.1 The accounting profession was not spared from this thinning of ranks; according to the Wall Street Journal, over 300,000 accountants quit the profession between 2019 and 2021.2 To put that number in perspective, there are currently fewer than 700,000 actively licensed CPAs in the United States.3

This precipitous drop in active CPAs, coupled with slow post-COVID growth in CPA candidates, has led many in the industry to declare that the accounting profession is facing a pipeline problem. A quick online search shows the pipeline issue is clearly top of mind across the profession.

The Pipeline Isn’t Dry, but It’s Not What It Once Was

In 2023, we were the fortunate recipients of a research grant from the National Association of State Boards of Accountancy (NASBA). NASBA’s grant allowed us to take a deep dive into CPA Exam performance and participation trends in Texas over the last 20 years. We found that while the impact of COVID-19 on CPA candidate counts is hard to ignore, the drop in Exam attempts did not begin with the pandemic. Figure 1 shows the decline from 2010 levels.

Figure 1: Annual Exam Attempts, 2010 through 2023

Exam attempts hit a low between 2011 and 2015, rebounded in 2016, then dropped sharply again in 2017. Numbers continued to decline through the COVID years (2020–2022), with a brief bump in 2021. In 2023, attempts returned to pre-COVID levels but remained well below the peaks of 2010 and 2016.

So, if COVID-19 alone does not explain the drop in CPAs, what does? The answer likely depends upon whom you ask, but chances are you will receive one or more of the following responses:

  • The workforce is aging and retiring;
  • Low pay;
  • The 150-hour requirement is too high for students;
  • Students have negative perceptions about the return on their investment; and
  • Professional burn out.4

Addressing these concerns will require effort from every corner of the accounting profession. From our perspective as business professors, however, we would like to address some strategies that can be taken to improve student success on the CPA Exam. We believe these strategies have both short- and long-term benefits for the accounting profession, irrespective of the pipeline issue.

Students Should Enroll in CPA Review Courses

The CPA path is a grueling one, ending with a notoriously tough exam. While coursework covers exam content, it’s spread over years. Review courses help students synthesize material, tackle complex questions, and gain new perspectives not always covered in class. Research generally supports the proposition that review courses correlate to greater success on the CPA Exam5 and by communicating this to students early in their accounting education, students can better prepare for the costs associated with those courses.

Encouraging students to take review courses is more important than ever due to two key factors set to shape the future CPA candidate pool. First, over half of all undergraduate students in the United States are first-generation college students, a number that continues to grow.6 These students have as much potential as their peers but often lack the support and guidance to navigate college and licensure.

Second, Governor Greg Abbott recently signed Texas Senate Bill 262 into law. The new law, which takes effect on August 1, 2026, creates an additional pathway to the traditional 150-hour CPA licensure track that requires only a bachelor’s degree with an accounting concentrarion and two years of work experience.7 Review courses will help students who elect this new pathway compensate for the lack of upper-division coursework required under the traditional track.

Students Should Consider the Timing of Exam Section Attempts

It should come as no surprise that some schools’ graduates perform better on the CPA Exam than other schools. In Texas, the highest-performing schools tend to be the large public universities and larger private universities. The lowest-performing schools tend to be smaller, regional universities, both public and private.

The data we analyzed through our NASBA-funded research showed that high-performing schools tended to remain high performing over the approximately 20-year period we studied, while lower-performing schools tended to remain low performing. In our research, we discovered some Exam timing trends that appear to separate high-performing schools from lower-performing schools.

As depicted in Table 1, Texas CPA candidates from the largest accounting programs tend to make most section attempts on the CPA Exam during the second and third quarters of the year. Candidates from smaller accounting programs, in comparison, tend to make most section attempts during the third and fourth quarters of the year.8

Table 1: Texas Candidate CPA Exam Attempts

Course Mapping

Students must satisfy the coursework requirements established by the Texas State Board of Public Accountancy to sit for the CPA Exam.9 Accounting programs in Texas design their curricula to satisfy these requirements, of course, but more can be done to help students understand how their courses relate to the topics that are tested.

AICPA publishes Uniform CPA Examination Blueprints that describe the content, skills and tasks CPA candidates will face on each section of the CPA Exam.10 The Blueprints are valuable to students by themselves, but they can be made even more useful if accounting programs map their accounting curriculum to the Blueprints.

Course maps show how each class connects to CPA Exam content, helping students and instructors plan effectively. Since exam sections can now be taken before finishing all coursework, maps also guide students on which classes to take first.

Finally, course maps identify topics not covered in the curriculum, so students know what they’ll need to study on their own. See Table 2 for a partial map of the AICPA Blueprint for the FAR Section of the Exam to accounting courses.

Table 2: Partial Map of the AICPA Blueprint

Collaborative Solutions for a Stronger CPA Pipeline

There is no single, easy solution to the challenges currently facing the accounting profession. Ultimately, overcoming current challenges – and the challenges that will invariably arise in the future – will require the concerted efforts of both educators and practitioners.

The proposals described here are just a few of many steps that we as educators can implement to improve the likelihood that accounting students will succeed on the CPA Exam. We hope to continue to analyze the data we obtained through our NASBA-funded research to find other ways to help prepare the next generation of CPAs.

Benefits to Students and Candidates

TXCPA offers outstanding benefits to students and candidates. Go to the Become a CPA section on our website to learn more.


Boosting CPA Exam Success: Key Strategies

Encourage Review Courses

  • Reinforces academic content and improves readiness
  • Helps first-gen students lacking support systems
  • Prepares those on the new Texas licensure path (bachelor’s + 2 years experience)

Promote Smart Exam Timing

  • Encourages testing in Q2/Q3 near graduation
  • Note that lower-performing schools often test later
  • Suggests timing can impact performance

Use Course Mapping

  • Aligns courses with CPA Exam content
  • Shows what’s covered vs. needs self-study
  • Helps plan when to take each Exam section

About the Authors: Judd Leach is an Associate Professor of Business Law at Tarleton State University who combines legal expertise with a passion for making complex concepts accessible to business students. His focus is on business law and contract principles, aiming to prepare students to apply legal knowledge confidently in their careers.

Dr. Charles R. Thomas, Professor of Accounting at Tarleton State University, is a highly experienced scholar-practitioner blending academic rigor with industry expertise. His work spans accounting systems, managerial costing, risk analytics, and complexity science, and he brings this wealth of knowledge to both classroom instruction and executive development programs.

Laura Gordey is an Associate Professor of Business Law at Tarleton State University, committed to helping business students understand the real world impact of the legal system. Her research interests include white collar crime and workplace legal issues, with a strong focus on supporting business students, particularly those aspiring to become future attorneys and CPAs, in achieving their professional goals.

                     

 

Footnotes

1. https://www.bls.gov/opub/mlr/2023/article/job-openings-reach-record-highs-in-2022-as-the-labor-market-recovery-continues.htm

2. https://www.wsj.com/articles/why-so-many-accountants-are-quitting-11672236016

3. https://nasba.org/licensure/howmanycpas/

4. https://www.kiplinger.com/taxes/the-cpa-shortage-problem

5. Shin, H., Lacina, M., Lee, B. B., & Pan, S. (2020). Schools’ CPA review course affiliations and success on the uniform CPA examination. Journal of Accounting Education, 50, 100642.

6. https://www.forbes.com/advisor/education/online-colleges/first-generation-college-students-by-state/

7. https://capitol.texas.gov/tlodocs/89R/billtext/html/SB00262I.htm

8. Second quarter 2004 through first quarter 2003, exclusive of quarters adjacent to 2010-11 and 2017 Exam updates.

9. https://www.tsbpa.texas.gov/exam-qualification/education-accounting-courses.html#:~:text=courses%20as%20defined.-,Hold%20a%20baccalaureate%20or%20higher%20degree%20from%20a%20Board%2Drecognized,community%20colleges%2C%20provided%20that%20all

10. https://www.aicpa-cima.com/resources/article/learn-what-is-tested-on-the-cpa-exam

 

Thanks to the Sponsors of Today's CPA Magazine

This content was made possible by the sponsors of this issue of Today's CPA Magazine:

Accounting Biz Brokers

Accounting Practice Sales

CPA Charge

Goodman Financial

Poe Group Advisors

TaxDome

 

 

  • Building the CPA Pipeline: A Faculty Perspective

    The CPA profession faces a shrinking pipeline, with fewer candidates entering the field even as demand grows. Faculty research highlights strategies to boost Exam success to better equip students, especially first-generation and future candidates under Texas’ new additional licensure pathway. Strengthening these supports is key to preparing the next generation of CPAs and securing the profession’s future.
    View Article
  • CPE: Joint Ventures and Equity Method Accounting

    Joint ventures enable organizations to combine resources under shared control to achieve strategic objectives, yet their accounting treatment has often posed challenges. To address this, FASB issued ASU 2023-05. This article examines the new guidance and its implications for equity method accounting.
    View Article
  • From Pipeline to Mobility: TXCPA Champions Two Major Wins for the Accounting Profession

    TXCPA achieved two landmark victories at the 89th Texas Legislature: an additional CPA licensure pathway for candidates and a modernized mobility law that strengthens practice standards in Texas. These wins not only expand opportunities for future CPAs but also set a precedent for other states, reinforcing TXCPA’s role as a leading advocate for the profession’s future.
    View Article
  • Finding Community and Purpose: Mariella Bosquez’s Journey in Accounting and TXCPA Houston

    Mariella Bosquez’s path to accounting was anything but traditional, but through TXCPA Houston she found both community and purpose. From psychology major to active student leader, her story shows how diverse backgrounds, mentorship and involvement can open doors and inspire the next generation of CPAs.
    View Article
  • Saved by the Byrd Rule: PCAOB Survives the One Big, Beautiful Bill

    Lawmakers looked to eliminate the Public Company Accounting Oversight Board (PCAOB) by folding its duties into the SEC, but the effort was blocked under Senate budget rules. Supporters argued the move would save money, while critics warned it would weaken audit oversight and investor protection. For now, PCAOB remains intact.
    View Article
  • TXCPA’s 2024-2025 Outstanding Chapter Awards Recognize Leadership, Service and Impact

    TXCPA’s Outstanding Chapter Awards celebrate small and medium-sized chapters that go above and beyond in leadership, service and community impact. This year, the San Angelo, East Texas and Rio Grande Valley chapters were recognized. Together, their achievements highlight the dedication and creativity shaping the profession.
    View Article
  • Your Old Plan vs. a Better Plan: How Accounting Firms Can Attract More CAS Clients

    Many firms still rely on outdated, exhausting methods like cold calls, referrals and random networking to win CAS clients - but those days are over. By embracing SEO, accounting firms can attract a steady stream of qualified, high-value clients who are already searching for their services, resulting in more revenue, stronger client relationships and the freedom to focus on delivering value.
    View Article
  • What’s Happening Around Texas - September-October 2025

    From networking luncheons and campus connections to hospital tours and a gathering at the Rusty Axe Brewing Co., members in Brazos Valley, Dallas, East Texas, and El Paso came together in a variety of ways. Professionals and students are finding community, inspiration, camaraderie, and fresh opportunities while chapters are setting bold visions for growth.
    View Article
  • Celebrating Our 2025-2026 TXCPA Faculty and Student Ambassadors!

    Through our Ambassador Program, TXCPA works with Texas educators and students each year to share resources and engage the next generation of CPAs, building connections on campuses across the state. TXCPA Ambassadors help us strengthen our presence and learn more about what we can do to help build and support the CPA pipeline.
    View Article
  • Stronger Together: Empowering the Next Generation

    The September/October issue of TXCPA’s magazine shines a spotlight on building the CPA pipeline and supporting future professionals. The issue is packed with ways to grow and stay connected. Most importantly, it’s a reminder that the future of our profession is built together - with your passion, time and voice.
    View Article
  • TXCPA Pipeline Resources at a Glance

    TXCPA’s Pipeline Resources offer something for everyone in the accounting pipeline — students, candidates, educators, and employers. Whether you’re exploring the field, teaching it or hiring talent, TXCPA connects you to the tools, people and opportunities that make an impact.
    View Article
  • The Statement of GreenHouse Gas Emissions

    Global standards for climate disclosure are rapidly evolving and companies are under pressure to measure and report indirect emissions across their value chains. A proposed Statement of GreenHouse Gas Emissions could give investors and stakeholders clearer, more comparable insights into corporate sustainability performance.
    View Article
  • 110 Years Strong: TXCPA Returns to Its Roots at the Tremont House

    TXCPA marked its 110th anniversary by returning to the historic Tremont House, celebrating a legacy of leadership while setting bold goals for the future. From legislative victories and a new tiered membership model to expanded student outreach and the launch of AcctoFi, the organization is driving transformation across advocacy, education and member engagement.
    View Article
  • Take Note

    In this edition of Take Note: Insurance Benefits Tailored for TXCPA Members; Enhancing Your Social Wellness; Stand Out as a Leader with the CGMA® Designation; TXCPA’s Career Center; Your Next Learning Opportunity
    View Article
  • Classifieds

    The classified ad section features listings for practice sales, firm buyers and specialized services. Whether you're expanding, selling or exploring niche opportunities, these ads connect you to valuable prospects and resources.
    View Article

CHAIR
Mohan Kuruvilla, Ph.D., CPA

PRESIDENT/CEO
Jodi Ann Ray, CAE, CCE, IOM

CHIEF OPERATING OFFICER
Melinda Bentley, CAE

EDITORIAL BOARD CHAIR
Jennifer Johnson, CPA

MANAGER, MARKETING AND COMMUNICATIONS
Peggy Foley
pfoley@tx.cpa

MANAGING EDITOR
DeLynn Deakins
ddeakins@tx.cpa

COLUMN EDITOR
Don Carpenter, MSAcc/CPA

DIGITAL MARKETING SPECIALIST
Wayne Hardin, CDMP, PCM®

CLASSIFIEDS
DeLynn Deakins

Texas Society of CPAs
14131 Midway Rd., Suite 850
Addison, TX 75001
972-687-8550
ddeakins@tx.cpa

 

Editorial Board
Derrick Bonyuet-Lee, CPA-Austin;
Aaron Borden, CPA-Dallas;
Don Carpenter, CPA-Central Texas;
Rhonda Fronk, CPA-Houston;
Aaron Harris, CPA-Dallas;
Baria Jaroudi, CPA-Houston;
Elle Kathryn Johnson, CPA-Houston;
Jennifer Johnson, CPA-Dallas;
Lucas LaChance, CPA-Dallas, CIA;
Nicholas Larson, CPA-Fort Worth;
Anne-Marie Lelkes, CPA-Corpus Christi;
Bryan Morgan, Jr, CPA-Austin;
Stephanie Morgan, CPA-East Texas;
Kamala Raghavan, CPA-Houston;
Amber Louise Rourke, CPA-Brazos Valley;
Shilpa Boggram Sathyamurthy, CPA-Houston, CA
Nikki Lee Shoemaker, CPA-East Texas, CGMA;
Natasha Winn, CPA-Houston.

CONTRIBUTORS
Melinda Bentley; Kenneth Besserman; Kristie Estrada; Holly McCauley; Craig Nauta; Kari Owen; John Ross; Lani Shepherd; April Twaddle; Patty Wyatt