I can tell you that the regulations and amount of work increases, but the pay stagnated. This has trickled down to fewer accounting grads entering public accounting to audit these companies. At the same time, the number of accounting grads has declined as other careers like data science have become more attractive and intellectually challenging for students. The AICPA is trying to change the CPA format to attract more candidates, but I see that as a stalling tactic instead of addressing the true cause for the drop in new accounting grads.
KAKOW_ t1_je67c25 wrote
Reply to comment by mandyama in Aggregate measure of financial misreporting for nearly 2,000 companies in the U.S. suggests that the collective probability of fraud across major companies is the highest in over 40 years by marketrent
I can tell you that the regulations and amount of work increases, but the pay stagnated. This has trickled down to fewer accounting grads entering public accounting to audit these companies. At the same time, the number of accounting grads has declined as other careers like data science have become more attractive and intellectually challenging for students. The AICPA is trying to change the CPA format to attract more candidates, but I see that as a stalling tactic instead of addressing the true cause for the drop in new accounting grads.