AICPA pushes to designate accounting as STEM program

The American Institute of CPAs is continuing its efforts to have accounting officially recognized as a Science, Technology, Engineering and Math education program by the federal government, releasing a survey showing support for the idea.

The AICPA survey, concocted online by the Harris Poll, found over half (54%) of Americans ages 18-34, and 59% of Americans ages 35-44, believe students would be more likely to enter an accounting education program if it were designated as a STEM education program.

The AICPA has been advocating for legislation to establish the accounting profession as a STEM career pathway as part of its long-standing efforts to bring awareness of the opportunities accounting can provide to young people who are planning their future careers.

The Accounting STEM Pursuit Act, introduced in both chambers in 2023 during the last Congress as well as 2021 and reintroduced this year, would enable federal K-12 funding to support accounting education for students from all backgrounds. If enacted, the legislation would allow educators to secure STEM funding to teach foundational accounting skills, introducing young students to accounting as a viable career and building a workforce to reflect the communities served by the accounting profession.

The AICPA pointed out that STEM roles typically offer higher earning potential, with an average salary of $100,900 compared to $55,260 in non-STEM fields. So far, 56 accounting education programs have received an official STEM designation from the federal government, enabling schools to broaden their student bodies.

“The role of an accountant has been significantly transformed by technology, which now goes beyond adopting advanced tools to innovating systems that support clients in making better decisions and enhancing service quality,” said AICPA president and CEO Mark Koziel in a statement Monday. “STEM legislation would highlight the clear and logical integration between accounting and technology — emphasizing the value of accounting professionals, including CPAs, as technological leaders. It would also help expose students from all backgrounds to the profession, strengthening the accounting pipeline and improving access for more students. We urge members of Congress to support STEM legislation to allow students greater access to accounting programs and ensure that the accounting profession is reflective and inclusive of the communities it serves.”