How Many Accountants Are There in the US?

The accounting profession plays a fundamental role in the financial health and transparency of businesses, organizations, and individuals across the United States. Professionals in this field ensure that financial records are meticulously maintained, accurate, and compliant with various regulations. Their work provides essential financial data that underpins sound economic decisions and supports the integrity of financial systems.

The Current Landscape of Accountants in the US

The U.S. Bureau of Labor Statistics (BLS) reported approximately 1,435,770 accountants and auditors employed in the United States in 2023. These professionals are integral to both private and public sectors. The field experiences consistent demand for new talent, with about 130,800 job openings projected annually from 2023 to 2033. Many opportunities arise from the need to replace workers who leave the labor force, such as through retirement.

Defining Accounting Professionals

Accounting professionals encompass a wide array of roles centered on financial data with distinct specializations. They examine financial statements for accuracy, ensure compliance with laws, and prepare financial records. These roles involve identifying financial opportunities and risks, and providing solutions for various entities.

Within this classification, distinctions exist between practitioners. Certified Public Accountants (CPAs) are licensed professionals adhering to specific standards and continuing education, offering services like auditing and tax preparation. While all CPAs are accountants, not all accountants hold the CPA designation. Management accountants, also known as corporate or private accountants, use financial information to guide internal business decisions. Government accountants maintain and examine records for government agencies, ensuring tax compliance.

Trends and Projections in the Accounting Profession

The accounting profession is projected to experience growth in the coming years, reflecting an ongoing need for financial expertise. Employment of accountants and auditors is expected to grow by 6 percent from 2023 to 2033, a rate considered faster than the average for all occupations. Technological advancements, particularly in automation, are transforming the profession by streamlining routine tasks like data entry. This shift allows accountants to focus more on advisory and analytical duties, enhancing their strategic value. The increasing complexity of tax laws and regulatory environments, alongside a growing economy, contributes to the sustained demand for skilled accounting professionals.

Where Accountants Work

Accountants and auditors are employed across diverse sectors, reflecting the universal need for financial management. Many work within the “Accounting, Tax Preparation, Bookkeeping, and Payroll Services” industry, including public accounting firms. In these settings, professionals often specialize in external auditing, tax compliance, or advisory services.

Corporate accounting departments within private industry, often found in “Management of Companies and Enterprises,” also employ many accountants. Roles include internal auditing, financial reporting, budgeting, and management accounting. Government agencies, including local, state, and federal levels, constitute another major employer, ensuring public funds are managed responsibly. Accountants also find employment in non-profit organizations, real estate, and management consulting services.