How to Recruit Talent During a CPA Labor Crisis with Paul Madsen

February 21, 2024

WealthAbility for CPAs #117 – Join Tom Wheelwright in this episode as he explores the CPA labor shortage with Professor Paul Madsen of University of Florida.

Madsen is a Professor at the Fisher School of Accounting. His primary research interests include accounting regulation and standard-setting, the labor economics of accounting occupations, and 19th and 20th century accounting history. His research has been published in a number of top tier academic journals including The Accounting Review; Accounting, Organizations and Society; Accounting Horizon; Accounting, Economics, and Law; and The Connecticut Law Review.

Discover what’s driving the CPA labor shortage, what it means for the future of your tax business, and the power that you and future recruits will have as the profession changes.

Order Tom’s book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at: https://winwinwealthstrategy.com/

SHOW NOTES:

00:00 – Intro
04:12 – Oligopsony in accounting.
11:45 – The entrepreneurial accountant.
15:36 – The future of our profession.
20:26 – Predictions with AI.
24:03 – How we can change the profession.
26:45 – “Why didn’t my accountant tell me that?”
29:27 – Evolution of accounting education & students.
32:15 – Recruiting talent in the future.
36:24 – What young accounting graduates are starving for.

Looking for more on Professor Paul Madsen? 

Website: https://warrington.ufl.edu/directory/person/5620/, The Social Science Research Network