Pennsylvania Cpa Foundation

TO INSPIRE YOUNG PEOPLE TO PURSUE CAREERS IN ACCOUNTING & SUPPORT THOSE WORKING TO ATTAIN CPA

CPAS WORK IN A MYRIAD OF BUSINESSES AND POSSESS A BROAD SPECTRUM OF SKILLS AND KNOWLEDGE. STUDIES SHOW THAT YOUNG PEOPLE WHO ARE EXPOSED TO, AND INFLUENCED BY, CPAS ARE MORE LIKELY TO CONSIDER AN ACCOUNTING CAREER. THE PENNSYLVANIA CPA FOUNDATION PROVIDES OPPORTUNITIES FOR STUDENTS TO LEARN ABOUT CAREER OPTIONS AVAILABLE TO THEM WHEN THEY CHOOSE TO PURSUE AN ACCOUNTING DEGREE. IN ADDITION, THE PENNSYLVANIA CPA FOUNDATION PROVIDES FINANCIAL, EDUCATIONAL, AND CAREER GUIDANCE.A RECORD NUMBER OF STUDENTS HAVE CHOSEN ACCOUNTING AS A MAJOR IN RECENT YEARS, MANY ARE NOT BECOMING CPAS. THIS HAS CREATED A TALENT GAP IN ACCOUNTING FIRMS OF ALL SIZES. LEADERS OF THE PROFESSION CONTINUE TO CITE TALENT ACQUISITION AND RETENTION AS THEIR MOST CRITICAL CHALLENGE.THE PATH TO BECOME A CPA IS NOT AN EASY ONE. BUT WITH THE RIGHT FINANCIAL, EDUCATIONAL, AND MOTIVATIONAL SUPPORT, THE JOURNEY CAN BE LESS ONEROUS. THE PENNSYLVANIA CPA FOUNDATION WORKS TO DELIVER THAT THROUGH CPA EXAM AND LICENSING INFORMATION, UPDATES TO THE CPA EXAM, CPA EXAM SCHOLARSHIP AND MENTORING PROGRAM.WHILE MANY OF THE PENNSYLVANIA CPA FOUNDATION'S PROGRAMS REACH AND SUPPORT MINORITY STUDENTS AMONG PROSPECTIVE CPAS, STUDIES HAVE SHOWN THAT ASPIRING CPAS FROM DIVERSE BACKGROUNDS TEND TO HAVE ADDITIONAL SOCIOECONOMIC CHALLENGES, AND THEIR LIKELIHOOD OF SUCCESS IN PASSING THE CPA EXAM AND BECOMING LICENSED IS MUCH LOWER. THAT IS WHY THE PENNSYLVANIA CPA FOUNDATION DEVELOPED ADDITIONAL PROGRAMS TARGETING THIS GROUP, AND THE EMPLOYERS WHO WILL HIRE THEM. SURVEYS SHOW THAT FIRMS AND OTHER EMPLOYERS CONTINUE TO STRUGGLE TO FIND MINORITY TALENT, AS WELL AS BUILD AND MAINTAIN A CULTURE THAT SUPPORTS INCLUSION.TO INSPIRE STUDENTS TO CONSIDER AN ACCOUNTING CAREER, THE FOUNDATION HOSTED VIRTUAL CAREER DAYS THAT REACHED OVER 5,000 STUDENTS AT MORE THAN 121 HIGH SCHOOLS. 18 COLLEGES AND UNIVERSITIES PARTICIPATED IN THESE VIRTUAL EVENTS. DURING THESE EVENTS STUDENTS LEARNED MORE ABOUT CAREERS IN ACCOUNTING THROUGH PRESENTATIONS BY CPAS WHO WORK IN PUBLIC ACCOUNTING, CORPORATE FINANCE, GOVERNMENT, AND EDUCATION. THEY ALSO LEARNED ABOUT ACCOUNTING MAJORS FROM A PANEL OF STUDENTS WHO TALKED ABOUT THE DEGREE REQUIREMENTS, INTERNSHIPS, THE CPA EXAM AND MANAGING CAMPUS LIFE. AFTER THESE EVENTS, THE PERCENTAGE OF STUDENTS CONSIDERING A MAJOR IN ACCOUNTING INCREASED BY 27%, AND STUDENTS CONSIDERING A CAREER AS A CPA INCREASED BY 31%. THE FOUNDATION ALSO HOSTED TWO ALL-VIRTUAL STUDENT CAREER FAIR WITH 90 STUDENT PARTICIPANTS AND 23 EXHIBITORS. TO PROVIDE FINANCIAL ASSISTANCE TO THOSE PURSUING AN ACCOUNTING CAREER, THE FOUNDATION AWARDED $160,500 IN SCHOLARSHIPS TO 60 COLLEGE STUDENTS AND $22,000 IN SCHOLARSHIPS TO 16 HIGH SCHOOL SENIORS. TO FURTHER SUPPORT ASPIRING CPAS, AN ADDITIONAL $17,000 WAS AWARDED TO 17 CPA EXAM CANDIDATES TO HELP COVER THE COST OF THE EXAM FEES AND REVIEW COURSE FEES. THE FOUNDATION CONTINUED TO PROVIDE STUDENT SUPPORT AND RESOURCES THROUGH THE STUDENT AMBASSADOR PROGRAM ON PENNSYLVANIA COLLEGE AND UNIVERSITY CAMPUSES.