Part 1 of 3 of the profession’s Labour Market Study findings.
CPA Alberta—in collaboration with CPA Saskatchewan and CPA Manitoba—contracted BDO Canada LLP to conduct a Labour Market Study to gather critical information relating to the perceived supply and demand gaps across the geographies, industries, and seniority levels of current CPA members. The survey also gathered qualitative information from respondents on the key trends impacting the profession today and into the future.
And the results are in!
Unsurprisingly, the findings confirm that the demand for new CPAs continues to grow and, perhaps more surprisingly, that there is a need for mid-career CPAs to move into leadership roles.
The accounting profession is set to see one of its greatest transitions and shifts in decades: with the anticipated retirement of seasoned CPAs and Alberta’s projected population growth—potentially reaching a population of nearly 5.2 million by 2030—junior, mid-level, and senior positions will all have high demand. Senior management roles will require more CPAs as it is anticipated that a significant number of CPAs will begin to retire from the workforce in the next five to seven years. Likewise, large firms reported plans to increase their workforces by up to six per cent due to sustainability reporting-related demands in the coming years.
It’s a good time to be in the profession.
Additional key findings include:
- Alberta will require approximately 1,000 new CPAs annually over the next three to five years.
- Approximately 300 CPAs will be needed in Alberta to replace those leaving the workforce (mostly in the Calgary and Edmonton areas) each year for a variety of reasons, including retirement and relocation. About 600 CPAs will be needed in Alberta to accommodate population growth, and 100 more due to a variety of other factors.
- Public accounting practice is the sector with the highest demand.
- Across the province, the demand for CPAs vs supply gap is numerically higher in big cities but proportionally larger in smaller centres.
Read more on the Labour Market Study here.
