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HOUSE MEMORIAL 18
57
TH LEGISLATURE
- STATE OF NEW MEXICO -
FIRST SESSION
, 2025
INTRODUCED BY
Rebecca Dow and Tara L. Lujan and Luis M. Terrazas
and Harlan Vincent
A MEMORIAL
RECOGNIZING THE CERTIFIED PUBLIC ACCOUNTANT WORKFORCE CRISIS
AND REQUESTING THE CREATION OF A TASK FORCE TO EXAMINE AND
PROPOSE SOLUTIONS, INCLUDING STEM INTEGRATION, TO EXPAND AND
SUPPORT THE CERTIFIED PUBLIC ACCOUNTANT WORKFORCE IN NEW
MEXICO.
WHEREAS, the "certified public accountant talent pipeline"
refers to attracting and retaining individuals with the skills
needed to become certified public accountants; and
WHEREAS, individuals with backgrounds in STEM skills are
increasingly critical to modern accounting, including data
analysis and automation; and
WHEREAS, a 2022 report by the center for audit quality
revealed significant barriers to the pursuit of accounting
careers, with a thirty-six percent decline in the certified
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public accounting examination pass rate between 2010 and 2021
and nearly seventy-five percent of the certified public
accountant workforce reaching retirement age in 2020; and
WHEREAS, over three hundred thousand certified public
accountants and auditors in the United States have left the
field over the past two years, a seventeen percent decline,
compounded by fewer college students entering the profession,
and finding and retaining qualified staff continues to be a top
challenge for accounting employers; and
WHEREAS, the shortage of certified public accountants is
exacerbated by young and mid-career professionals leaving the
field, and many experienced certified public accountants are
transitioning to other roles in finance and technology; and
WHEREAS, despite high salaries, the certified public
accounting profession faces a persistent talent shortage, with
temporary workers often filling gaps in employment; and
WHEREAS, the one-hundred-fifty-hour credit requirement to
become a certified public accountant is a significant barrier
for many accounting graduates, and the number of college
students completing degrees in accounting declined nearly nine
percent between 2012 and 2020; and
WHEREAS, the national pipeline advisory group calls for a
data-driven approach to increase accounting talent, emphasizing
engagement, affordability, support for examination candidates
and access for under-represented groups; and
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WHEREAS, the American institute of certified public
accountants supports federal legislation recognizing accounting
as a STEM career to diversify the workforce, with legislation
introduced to fund K-12 accounting education, as STEM
recognition at the K-12 level will help expand the certified
public accountant talent pipeline and introduce diverse
students to accounting careers; and
WHEREAS, the growing integration of technology in
accounting drives demand for certified public accountants with
strong analytical and data-driven skills, aligning with STEM
education; and
WHEREAS, artificial intelligence, analytics and technology
require a workforce with STEM skills to enable accountants to
leverage data and technology for strategic problem-solving; and
WHEREAS, increasing awareness of the benefits of a career
in public accounting and promoting the profession are crucial
to attracting future members of the profession; and
WHEREAS, diversity, equity and inclusion initiatives are
essential for fostering a more diverse and innovative
workforce; and
WHEREAS, a multi-stakeholder task force will ensure
continued progress in addressing the public accounting talent
gap;
NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF
REPRESENTATIVES OF THE STATE OF NEW MEXICO that the office of
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the state auditor be requested to create an interagency
certified public accountant talent pipeline task force to
expand and support certified public accounting and audit
professionals in New Mexico, examine the shortage of certified
public accounting and audit professionals in the state and
propose solutions; and
BE IT FURTHER RESOLVED that the task force include one
representative from the office of the state auditor; one
representative from the department of finance and
administration; one representative from the New Mexico public
accountancy board; one representative from the public education
department; one representative from the higher education
department; one representative from the workforce solutions
department; and representatives from stakeholders, including
the American institute of certified public accountants, the
center for audit quality and the national pipeline advisory
group; and
BE IT FURTHER RESOLVED that the task force be requested to
consider and address various solutions to expand and support
accounting professionals in the state, including: proposal of
and support for legislation identifying accounting as a STEM
subject; identification of and support for expanded state and
federal funding for expanded K-12 and higher education in
accounting and auditing; creation and integration of a STEM-
based accounting curriculum for grades K-12; exploring
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partnerships with educational institutions for the creation of
internships, scholarships and training programs to attract and
prepare the next generation of accounting professionals;
consideration of the use and integration of CPA evolution, a
licensure model that builds competencies in accounting,
auditing, tax and technology; the expansion of the workforce
solutions department's workkeys program to assess artificial
intelligence, STEM and accounting competencies, including a
career readiness certificate to confirm artificial intelligence
and STEM skills for employers; the expansion of education
finance programs, including the expansion and availability of
the higher education department's 529 education savings plan to
increase access to accounting education benefits and
professional certifications; increasing accounting education
outreach to under-represented students, including students in
rural and frontier areas; and expanding the higher education
trust fund to help finance accounting education; and
BE IT FURTHER RESOLVED that the task force report its
findings and recommendations to the governor and the
legislative finance committee by November 1, 2025; and
BE IT FURTHER RESOLVED that copies of this memorial be
transmitted to the governor, the state auditor, the secretary
of finance and administration, the secretary of the New Mexico
public accountancy board, the secretary of public education,
the secretary of higher education, the secretary of workforce
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solutions and the chair of the legislative finance committee.
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