Accounting

The expansion of business (especially internationally) and other factors have created strong job opportunities in the accounting industry. Employment for accountants and auditors is expected to grow by 5 percent from 2024 to 2034,, according to the U.S. Department of Labor (DOL), or faster than the average for all careers. The staffing firm Robert Half identifies the following careers as in-demand: accounting specialist, accounts payable specialist, accounts receivable specialist, business analyst, data analyst, financial analyst, payroll specialist, senior accountant, and staff accountant.

More than 1.1 million people were employed in accounting, tax preparation, bookkeeping, and payroll services in the United States in May 2023, according to the DOL, although the number of accounting professionals is much higher because many accounting workers are employed in industry sectors that fall outside of this classification.

Accounting services firms in the United States generated revenue of $145.7 billion in 2023, according to Statista.com, up from $127.2 billion in 2016. The 10 largest public accounting firms in 2024 by sales revenue were Deloitte, PwC, EY, KPMG, RSM US LLP, BDO USA, CBIZ, Grant Thornton, Forvis, and CLA. The top 16 firms had revenue of at least $1 billion in 2024, with Deloitte earning more than $33 billion in revenue. In 2024, the top six public accounting firms employed 382,562 people, according to Accounting Today.

Accounting firms, often known today as professional services firms, are located in both the United States and abroad. The U.S. headquarters of the Big Four public accounting firms are located in New York City.

Tax accounting continues to be a strong growth area. The 10 largest accounting firms in 2024 by sales revenue were PwC, EY, Deloitte, KPMG, H&R Block, RSM US LLP, BDO USA, Ryan, CBIZ, and CLA. PwC earned more than $5.8 billion in revenue from tax services (or 25 percent of total company revenue). It employed 76,937 workers at 73 offices. H&R Block earned 100 percent of its revenue from tax work. In 2024, it earned more than $3.6 billion in revenue. It employed 60,000 workers at more than 9,000 offices.

There are several key organizations in public accounting and auditing. The Association of International Certified Professional Accountants (AICPA) is the largest member organization in the accounting profession. It was founded after a recent merger of the American Institute of Certified Public Accountants and The Chartered Institute of Management Accountants. Members work in many sectors, including public practice, government, business, education, and consulting. The institute establishes ethical and U.S. auditing standards, develops and grades the Uniform CPA Examination, and offers specialty certification credentials. The AICPA has 597,000 members in 188 countries and territories. The Association of Chartered Certified Accountants (ACCA) is a global membership organization for accountants. It develops best practices, offers continuing education, and provides certificate and certification programs. The ACCA has 257,900 members in 180 countries. The Institute of Internal Auditors is an international professional association with more than 265,000 members. It develops industry standards, offers certification, and provides continuing education. The Chartered Institute of Management Accountants, which recently merged with the AICPA, offers professional certification and develops practice standards for management accountants. Beta Alpha Psi is the international honor society for accounting students and professionals. It has over 300 college and university chapters; more than 380,000 members have been initiated since its formation. .

In 2023, 60 percent of accountants and auditors in the United States were women, but females comprised only 25 percent of partners and principals at firms.

In 2021–22, the AICPA reports that only 7.1 percent of students who earned bachelor’s and master’s degrees in accounting were African American, and only 14.3 percent were Latino Americans—percentages that are much lower than their representation in the U.S. population. Most major firms have diversity initiatives that aim to increase the number of women and minorities in partner positions and increase the overall number of minorities who enter the field. Several organizations aim to improve diversity in the field (especially in top-level positions) including the Accounting & Financial Women’s Alliance, ALPFA, Educational Foundation for Women in Accounting, and the National Association of Black Accountants.