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CAMPUS TO CLIENTS
Closing the gap between
accounting education and
the workplace
Author: The gap between what is taught in need for more accounting gradu-
Patrick Walsh, CPA, Ed.D. accounting in higher education and ates. New regulations and a robust
what is sought in practice has been economy contributed to the need for
Editor: documented multiple times since the accounting graduates. It was easy to
Annette Nellen, Esq., CPA, CGMA Bedford Committee published its think that higher education closed the
report in 1986 (American Account- gap. However, the accounting profes-
ing Association, Committee on the sion has always filled the knowledge
Future Structure, Content, and Scope gap with apprentice-based learning.
of Accounting Education, “Future Associates would obtain on-the-job
Accounting Education: Preparing for training as they worked on lower-level
the Expanding Profession,” Issues in tasks in preparation for becoming se-
Accounting Education, p. 168 (Spring nior associates.
1986)). Yet little has been done in Since 2000, additional studies have
higher education to help close the reaffirmed the gap between the skills
gap. One reason for the lack of change and competencies typically fostered by
Accounting educators in higher education is that accounting higher education and what is needed in
the real world (see 36 Issues in Account-
graduates have been a sought-after
can better prepare commodity. One could argue that ing Education (Fourth Quarter 2021)
students for the if there really were a gap, employers for supporting articles). As a result, the
working world with would not continue to hire accounting gap is now fully apparent as accounting
graduates. Unfortunately, that is not
firms look for nonaccounting graduates
courses that present necessarily a valid measuring stick for to fill their ranks. The knowledge gap
increasingly complex educational quality. is widening as the lower-level tasks
In 2000, Steve Albrecht and Robert
traditionally done by accounting as-
real-world scenarios Sack (Accounting Education: Chart- sociates are automated. New staff are
and develop the skill ing a Course Through a Perilous Future expected to do reviewer-level work as
of asking questions (American Accounting Association soon as they start, without having the
traditional apprenticeship experience
2000)) sounded a warning bell to ac-
and learning from counting professors as the authors the firms provided. Nonaccounting
prior mistakes. discovered that accounting graduates graduates are helping firms automate
were not adequately prepared for em-
more business processes. These gradu-
ployment. At that time, the demand for ates with different skill sets can learn
new accounting graduates was flat and the accounting work and layer in their
began to decrease in 2001, providing technology knowledge to help the firm. PHOTO BY NANCY BARR-RAPER/ISTOCK
support for their concern. This situation raises the question: Will
The warning bell was quieted when accounting professors embrace the
in 2002 the Sarbanes-Oxley Act, P.L. charge of closing the gap and change,
107-204, was enacted, increasing the or will they blissfully ignore the gap?
46 February 2023 The Tax Adviser
