Prescription for the Profession
AICPA chair Leslie Murphy in her recent address to Council stated “one out of six CPAs left their firms during 2004.” The cost to replace these people is estimated at 1.5 times their current salary. Enrollment and graduation are up in accounting programs according to the most recent statistics published by the AICPA. The bad news is that the percentage of graduates going into public accounting has dropped to 29% of the total.