The American Institute of CPAs (AICPA) is signaling its strong support for bipartisan legislation to establish the accounting profession as a career pathway through Science, Technology, Engineering and Math (STEM). H.R. 2911, the Accounting STEM Pursuit Act, introduced by Representatives Young Kim (R-CA) and Haley Stevens (D-MI), would allow K-12 grant funding to be used for accounting education, with a focus on improving access for underrepresented students. This will help ensure future leaders are highly skilled and prepared to meet the public’s evolving needs.
Over time, technology has evolved and many professions, including accounting, have evolved with it. Today, many are unaware that digital technology tools are automating and improving many old accounting tasks, opening up avenues for more creative work such as data analysis, advising on business decisions and hunting down fraud. Accountants use predictive modeling to help clients make strategic decisions. By using math and developing technology to solve complex issues, accountants empower communities and drive trust in financial markets. Accounting professionals must master these new technologies and seek innovative solutions to ensure they meet and surpass the demands of our global economy.
STEM recognition for accounting at the K-12 level, coupled with the potential for existing STEM K-12 federal funding to be used for accounting awareness and education, will affirm that the accounting profession is qualified to assess the technological world businesses are in today and expose a greater cross-section of students to potential careers in accounting, growing the profession’s pipeline.
“For years, STEM curriculum has been a driving force in our education system, providing students with the education needed to develop critical skills that will allow them to compete in a global economy. Accounting has always embodied the values of STEM education, and we believe now is the time to recognize accounting as a STEM curriculum,” said Susan Coffey, CPA, CGMA, CEO of Public Accounting at the AICPA. “STEM recognition for accounting will help expose students from all backgrounds to the profession, strengthen the accounting pipeline and provide increased opportunities for students in various communities. We thank Representatives Kim and Stevens for their leadership and dedication on this issue and urge members of Congress to support this legislation.”
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Tags: Accounting
