AICPA supports bill for STEM recognition

Yahoo

17-04-2025

The American Institute of CPAs (AICPA) has expressed 'strong' support for bipartisan legislation that seeks to recognise accounting as a career pathway within Science, Technology, Engineering, and Mathematics (STEM).
The bill, known as the Accounting STEM Pursuit Act, was introduced by Representatives Young Kim and Haley Stevens.
It seeks to allow K-12 grant funding to be utilised for accounting education, with a focus on improving access for underrepresented students.
AICPA said this legislation is designed to ensure that future leaders in accounting are 'highly' skilled and prepared to cater to the developing needs.
As technology has advanced, the accounting profession has evolved, incorporating digital tools that automate and enhance traditional tasks, the institute added.
The shift is said to have paved the way for more 'creative' responsibilities, including tasks like analysing data, providing strategic business insights, and identifying fraudulent activities
Accountants now use predictive modelling to assist clients in making decisions.
By applying mathematical expertise and harnessing emerging technologies to solve complex problems, accountants support communities and building confidence in financial markets.
AICPA noted mastery of new technologies and innovative solutions are essential for accounting professionals to meet the demands of the global economy.
Recognising accounting as a STEM field at the K-12 level, along with the potential use of existing STEM federal funding for accounting education, will affirm the profession's capability to navigate today's technological business environment.
This initiative aims to expose a broader range of students to potential careers in accounting, thereby strengthening the profession's pipeline.
AICPA CEO of public accounting Susan Coffey said: 'For years, STEM curriculum has been a driving force in our education system, providing students with the education needed to develop critical skills that will allow them to compete in a global economy. Accounting has always embodied the values of STEM education, and we believe now is the time to recognise accounting as a STEM curriculum.
'STEM recognition for accounting will help expose students from all backgrounds to the profession, strengthen the accounting pipeline and provide increased opportunities for students in various communities. We thank Representatives Kim and Stevens for their leadership and dedication on this issue and urge members of Congress to support this legislation.'
Earlier in April 2025, AICPA also expressed support for four bipartisan bills aimed at enhancing transparency and fairness for taxpayers.
Among them, the Electronic Filing and Payment Fairness Act proposes applying the 'mailbox rule' to electronic tax submissions, allowing the IRS to acknowledge electronic payments and documents on the submission date rather than when they are received or reviewed.
"AICPA supports bill for STEM recognition" was originally created and published by The Accountant, a GlobalData owned brand.
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