Employment of accountants and auditors is expected to grow by 4 percent, about as fast as the average for all occupations, through 2029, according to the U.S. Department of Labor. In 2020, the coronavirus pandemic affected many industries and has slowed down the economy. Most accounting businesses have been able to continue their work remotely, and according to a survey by AccountingToday.com, only a few accounting firms have experienced layoffs. Many states declared accountants essential workers, which is why most accounting firms have continued to provide services to clients. In general, business growth, changing tax and finance laws, and increased regulation of financial practices across all businesses will increase the need for accountants. There have been several notable scandals in the accounting industry in recent years, and this accounts for much of the increased scrutiny of and changing legislation in this industry.
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