By Prasad Vemala, PhD, and Jacob Peng, PhD

The most critical challenge facing the accounting profession today is a measurable drying up of the CPA/accountant pipeline. Despite dedicated efforts by many in the profession, including the PICPA and other stakeholders, to address this issue, there is a widening gap that needs bridging. One solution just might lie in tapping into an often underutilized resource – highly qualified and motivated international students.

The potential for international students to fortify the accounting pipeline cannot be overstated. These students would contribute fresh perspectives, innovative ideas, and diverse viewpoints into the profession, adding significantly to firm performance and client services.

Additionally, more young associates from diverse backgrounds can serve as a catalyst in creating a positive and attractive culture for younger generations. The unique experiences, ideas, and perspectives of international students can enrich the work environment, fostering a culture of inclusion, innovation, and collaboration.

Research conducted by McKinsey & Company consistently highlights the correlation between diversity and financial performance in the corporate world. These reports underscore the invaluable benefits of diversity in workplaces, showcasing how diverse teams at all organizational levels lead to improved financial performance.

So, how would firms without huge human resource departments begin to hire international students? Traditionally, bringing onboard international students has been perceived as cost-prohibitive, but the reality might be more manageable than commonly thought. For example, universities can partner with employers to streamline and facilitate the process, making it easier for firms to bring in these talented individuals.

Pennsylvania’s Robert Morris University MBA program is spearheading a pilot accounting pipeline program with the PICPA, and they are inviting regional and local firms to participate in this transformative initiative for the 2024-2025 academic year. The program entails bringing in high-quality, well-prepared accounting students from abroad who will enroll in the STEM-designated MBA program in business analytics. These students will complete internships with participating firms in spring 2025 or summer 2025, and upon successful completion the firms can consider offering them full-time roles starting in August 2025. Thanks to the STEM designation of the degree students earn, they will commit to the firm as full-time associates for at least three years. The firm can work with the students after that if continuing employment is mutually beneficial.

Robert Morris University will offer an extensive platform to advertise the program, manage all immigration paperwork for the students, and provide a cutting-edge business analytics curriculum to complement their accounting background and ensure CPA eligibility.

Partnering with Robert Morris University can pave the way for a collaborative effort in bringing in international talent to enrich Pennsylvania's accounting landscape. Robert Morris University will support firms by overseeing immigration compliance and providing a pool of highly motivated, talented international students and young associates from diverse backgrounds, contributing not only to the diversity of their workforce but also to the creation of a positive, innovative, and inclusive firm culture.

This initiative represents a win-win situation for the firms involved and the profession at large. It is time to embrace diversity, innovation, and international talent to pave the way for a robust accounting pipeline and elevate Pennsylvania's accounting landscape to new heights of success. Join us in shaping the future of accounting! Please contact peng@rmu.edu if you want to explore more!

Prasad Vemala, PhD, is interim dean of the Rockwell School of Business at Robert Morris University in Moon Township, Pa. He can be reached at vemala@rmu.edu.

Jacob C. Peng, PhD, is the MBA director at Robert Morris University and a board member of the Pennsylvania CPA Foundation. He can be reached at peng@rmu.edu.

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^{Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of the PICPA's officers or members. The information contained herein does not constitute accounting, legal, or professional advice. For actionable advice, you must engage or consult with a qualified professional.}