Minnesota Society of CPAs co-signs letter to Congress urging support for STEM accounting legislation
MINNEAPOLIS (May 2, 2024) — The Minnesota Society of Certified Public Accountants (MNCPA) joined together with other state CPA societies across the country and the AICPA to encourage support for legislation recognizing accounting as a Science, Technology, Engineering and Math (STEM) field. The letter, sent to leadership in both chambers of Congress, requests co-sponsorship of bipartisan, bicameral legislation – H.R.3541, the STEM Accounting Pursuit Act and S.1705, the STEM Education in Accounting Act.
These companion bills would allow accounting programs access to existing STEM K-12 grant funding for accounting awareness and education and would help to strengthen the accounting pipeline. Last spring, the MNCPA joined CPA societies and the AICPA on Capitol Hill to discuss this legislation with members of Congress.
The letter notes the decline in the number of U.S. students who completed a bachelor’s degree in accounting and the knowledge gap that most high school students have about a career in accounting. It also highlights the need to increase access to high-quality accounting courses for students through grade 12 who are members of underrepresented groups.
The MNCPA has supported and joined in previous efforts by the AICPA and other state CPA societies to recognize accounting as a STEM field and will continue to advocate on this important pipeline initiative.
The MNCPA serves the public interest by advancing the highest standards of ethics and practices within the CPA profession. The MNCPA delivers on that promise by offering extensive continuing professional education and resources; advocating for members and the public with regulatory agencies and boards; and mentoring and encouraging the CPAs and business leaders of tomorrow. Founded in 1904, the MNCPA has 7,500 members who work in public accounting, business and industry, government and education.
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