The AICPA, the NYSSCPA and other state CPA societies across the country have sent a letter to to U.S. congressional leaders to encourage support for legislation recognizing accounting as a science, technology, engineering and mathematics (STEM) field.

The letter—addressed to House Speaker Mike Johnson (R-La.), House Minority Leader Hakeem Jeffries (D-N.Y.), Senate Majority Leader Chick Schumer (D-N.Y.) and Senate Minority Leader Mitch McConnell (R-Ky.)—requests co-sponsorship of bipartisan, bicameral legislation—the Accounting STEM Pursuit Act, H.R.3541, in the House of Representatives and the STEM Education in Accounting Act, S.1705, in the Senate.

These companion bills would allow accounting programs access to existing STEM K-12 grant funding for accounting awareness and education and would help to strengthen the accounting pipeline. Last spring, the NYSSCPA joined CPA societies and the AICPA on Capitol Hill to discuss this legislation with members of Congress.

The letter argues that the effects of modern technology have transformed the profession, requiring that accounting be designated a STEM field. “Day-to-day, CPAs are using sophisticated technology to manage and analyze big data, automate and improve both routine and sophisticated accounting tasks, and develop financial models,” the letter states. “Increasingly, the profession is also developing and innovating technology to help clients make informed decisions and improve services. Many public accounting firms have developed proprietary technologies and software, including programs that allow accountants to better and more quickly perform risk assessments. The profession’s embrace of technology is reflected in the education and training of accountants, with undergraduate and graduate level accounting programs in the United States increasingly including STEM content in their curricula.”

In the letter, the signatories lament the widespread misunderstanding of the profession among young Americans: "Unfortunately, if asking the typical high school student what accountants do, it is clear there is a gap between perception and reality. Most younger people are not aware that cutting-edge technology in the profession opens up avenues for more creative work such as data analysis, advising on business decisions, and hunting down fraud. That perception problem is one of several causes contributing to a decline in the number of students enrolling in accounting programs."

Noting the decline in U.S. students completing a bachelor’s degree in accounting, and the decline in the number of accounting graduates in both bachelor’s and master’s programs sitting for the CPA exam for the first time, the AICPA and state societies emphasized why the legislation is necessary.

“Given the critical role that CPAs play in the business health of our country—including advising and reporting for capital markets, private companies, government, education, and businesses in all industry sectors—we support STEM designation as a crucial step in attracting students,” the letter states.

The profession “need[s] Congress’s help now to ensure younger people understand that accounting and technology are intricately linked—and that a profession that requires a mastery of digital technologies will set them up to be successful in many different fields,” the letter states, contending that the legislation would attract a new generation of students to the accounting profession by providing them with early and positive exposure to it.

The NYSSCPA has supported and joined in previous efforts by the AICPA and other state CPA societies to recognize accounting as a STEM field and will continue to advocate on this important pipeline initiative.