Why is there a shortage of accountants?

A shortage of accountants is beginning to cause disruption with bank and corporation financial reporting and internal controls. The accounting shortage is becoming more widespread after the number of practicing accountants has declined 17% from the profession’s employment peak in 2019. What can banks and corporations do to address this? Try outsourcing certain functions and focusing on AI and Automation. Don’t forget to maintain guardrails. This episode examined a blog post from PCBB titled “The Accountant Gap: Reshaping CFI’s Financial Reporting.” A link to the blog post is included below. Link: The Accountant Gap: Reshaping CFIs' Financial Reporting