Research

2026 Accounting Profession Talent Pipeline Report: CPA Exam Volume Down 33% Since 2018, State-by-State Rollback of the 150-Hour Rule

By chrisomo

CPA exam candidates sat for the Uniform CPA Examination at a rate of roughly 33,400 first-time takers in 2024, down from a 2018 peak of approximately 49,800 first-time takers, a 33 percent decline over six years (NASBA Candidate Performance Reports, 2018 and 2024 editions). The drop is the steepest in the modern history of the credential, and it has triggered the first serious state-level rollback of the 150-hour education requirement since the rule became standard in the early 2000s. This report compiles the candidate-volume data, the state-by-state status of the 150-hour rule as of mid-2026, the first-year outcomes of the CPA Evolution exam launched January 1, 2024, and the related accounting-enrollment, hiring, and compensation trends that move the pipeline.

Scope and methodology

Six interlocking data series are covered. First, CPA exam candidate volume by year 2018 through 2024 from the NASBA Candidate Performance Reports. Second, state-by-state candidate volume for the 20 largest jurisdictions from the same NASBA series. Third, the 150-hour education requirement status in all 55 NASBA jurisdictions (50 states plus DC, Puerto Rico, Guam, Northern Mariana Islands, and the US Virgin Islands) from each state board’s published licensure rules and the NASBA legislative tracker. Fourth, the first-year outcomes of the CPA Evolution exam from the NASBA 2024 Candidate Performance Report. Fifth, accounting degree completions from NCES IPEDS Completions (CIP 52.0301 Accounting and 52.0302 Accounting Technology) and the AICPA Trends in the Supply of Accounting Graduates report (2025 edition). Sixth, hiring and compensation trends from the BLS Occupational Employment and Wage Statistics (OEWS) for SOC 13-2011 Accountants and Auditors and from the Robert Half Accounting and Finance Salary Guide annual editions 2020 through 2026.

Limitations. NASBA publishes candidate data by jurisdiction of license, not state of residence, so candidates who studied in State A and sat for the exam under State B’s rules are counted in State B. NASBA data carries a 12 to 18 month lag; the 2024 reading is the most recent fully published year as of June 2026, with the 2025 count expected in approximately the second quarter of 2027. Robert Half compensation data represents proposed midpoint starting salaries from the firm’s permanent placement business, not realized average compensation, and is cross-checked here against BLS OEWS. State 150-hour status was verified against each board’s website as of June 2026 and against the NASBA legislative tracker; legislation in this area moves quickly and readers should verify against the state board directly before relying on the status for any licensure decision.

One structural break to flag. The CPA Evolution exam took effect January 1, 2024, replacing the legacy four-section structure (AUD, FAR, REG, BEC) with a three-core-plus-one-discipline structure (AUD, FAR, REG plus one of BAR, ISC, TCP). Pass rates on the new sections are not directly comparable to legacy, and the 2023 testing window included transition quirks with candidates rushing to complete legacy sections before December 15, 2023 and a brief blackout window December 16, 2023 through January 9, 2024 during which no testing occurred. The 2024 candidate volume reading is the first full year under the new structure and the right comparison point for 2018.

The headline trend: CPA exam volume 2018 to 2024

First-time CPA exam candidates by calendar year from the NASBA Candidate Performance Reports: 2018: 49,798. 2019: 47,123. 2020: 39,628 (COVID-affected, with extensive testing center closures March through June 2020). 2021: 32,188. 2022: 30,251. 2023: 30,401 (final year of the legacy structure). 2024: 33,378 (first full year under CPA Evolution). The 2018 figure is the modern peak, 2022 is the modern trough, and 2024 reflects a modest recovery but remains 33 percent below 2018.

Total unique candidates (first-time plus re-exam) follows the same trajectory: 95,177 in 2018, falling to 67,336 in 2022 and recovering to 67,711 in 2024, 28.8 percent below the 2018 peak. The 2010 first-time count was approximately 36,400 (NASBA 2010 report) and the 2014 reading was approximately 48,500; the credential grew 2010 through 2016, peaked in 2017 to 2018, and has declined every year since except the small 2024 uptick. The 2024 first-time count of 33,378 sits below the 2010 reading.

Total exam sections taken

Total sections taken fell from 254,571 in 2018 to 148,168 in 2022, a 41.8 percent decline. The 2024 reading was 153,792 sections, modestly above 2022 but well below 2018. Sections per candidate held roughly constant at 2.2 to 2.7 across the window, indicating the decline is driven by fewer candidates entering the pipeline rather than by changes in how candidates approach the exam.

State-by-state candidate volume

The 20 largest jurisdictions by first-time candidate volume in 2018 accounted for 71.4 percent of US first-time candidates that year and 73.1 percent in 2024 (NASBA Jurisdictional Candidate Performance Summaries, 2018 and 2024). The table below reports first-time candidate counts and the percentage change.

Every state in the top 20 saw a decline of 27 to 34 percent in first-time candidates between 2018 and 2024. The decline is broad-based across region, exam-state size, and strength of the local accounting industry. Of the 55 NASBA jurisdictions, 54 declined; the lone exception was the US Virgin Islands, growing from 11 to 14 candidates.

The 150-hour rule: status as of mid-2026

The 150-hour requirement was first proposed by the AICPA in 1959 and was adopted by Florida in 1979. The rule spread state by state through the 1990s and early 2000s, with Colorado (2014) and California (2017) the final adopters. By 2017, all 55 NASBA jurisdictions required 150 semester hours for licensure, though the structure varies by state (some require a master’s; most permit any combination of accounting, business, and general education hours totaling 150).

The first state-level rollback in the modern era was the Minnesota Society of CPAs’ 2023 proposal of an alternative pathway, which was followed by a series of state legislative actions in 2024 and 2025. The current status of each rollback is summarized below.

States with enacted alternative pathways as of June 2026

Ohio (HB 238, signed March 2025, effective January 1, 2026). Adds an alternative pathway permitting licensure with a bachelor’s degree (typically 120 hours), 24 semester hours in accounting, 24 in business, and two years of relevant work experience verified by a licensed CPA. The traditional 150-hour pathway with one year of experience remains available. Source: Ohio HB 238 (135th General Assembly) and Accountancy Board of Ohio bulletin dated April 2, 2025.

Virginia (HB 2042 / SB 1042, signed March 2025, effective January 1, 2026). Adds an alternative pathway with 120 hours plus two years of experience. Maintains the 150-hour pathway as the default. Includes an automatic mobility provision recognizing CPAs licensed in any state that meets the 120-hours-plus-experience standard. Source: Virginia Acts of Assembly Chapter 159 (2025) and Virginia Board of Accountancy notice dated April 14, 2025.

Minnesota (SF 1660, signed May 2025, effective July 1, 2026). Provides two alternative pathways. Path A: bachelor’s degree plus two years of experience. Path B: master’s degree plus one year of experience. Traditional 150-hour pathway preserved. Minnesota was the first state to propose a rollback, beginning with the Minnesota Society of CPAs’ 2023 white paper. Source: 2025 Minnesota Session Laws Chapter 31 and Minnesota Board of Accountancy guidance dated June 2025.

Indiana (HB 1422, signed May 2025, effective July 1, 2026). Adds a 120-hour-plus-two-years-experience pathway. Source: Indiana Public Law 134-2025.

Illinois (SB 1741, signed August 2025, effective January 1, 2027). Adds two alternative pathways consistent with the AICPA-NASBA Pipeline Acceleration Plan framework: a master’s plus one year, and a bachelor’s plus two years. Source: Illinois Public Act 104-0226.

Iowa (HF 177, signed April 2025, effective July 1, 2026). Adds a 120-hour-plus-two-years-experience pathway. Source: Iowa Acts 2025 Chapter 28.

Utah (SB 15, signed March 2025, effective July 1, 2026). Adds a bachelor’s-plus-two-years pathway. Source: Utah Code Title 58 Chapter 26a amendment.

Hawaii (HB 553, signed June 2025, effective January 1, 2027). Adds the AICPA-NASBA model pathway. Source: 2025 Hawaii Session Laws Act 153.

Tennessee (HB 1330 / SB 1316, signed May 2025, effective January 1, 2027). Adds bachelor’s-plus-two-years and master’s-plus-one-year pathways. Source: 2025 Tennessee Public Chapter 432.

States with active legislation but no enactment as of June 2026

The following 14 jurisdictions had alternative-pathway legislation introduced or pending board rulemaking as of June 30, 2026, according to the NASBA legislative tracker (June 2026 update): New York (A6258/S5328), New Jersey (A4283/S3232), Pennsylvania (HB 1455), Massachusetts (H 247), California (AB 1175), Michigan (HB 4459), Washington (SB 5302), Maryland (HB 933), Wisconsin (SB 256), Arizona (HB 2261), Oregon (HB 3170), Connecticut (SB 1183), Colorado (HB 1257), and Kentucky (HB 285). Most of these are modeled on the AICPA-NASBA Pipeline Acceleration Plan framework, which provides for a 120-hour pathway with two years of experience.

States with no active rollback as of June 2026

The remaining 32 jurisdictions retain the 150-hour requirement without any pending legislative or board-level rollback as of June 2026. This group includes Florida, Georgia, North Carolina, South Carolina, Alabama, Mississippi, Louisiana, Arkansas, Oklahoma, New Mexico, Nevada, Idaho, Montana, Wyoming, North Dakota, South Dakota, Nebraska, Kansas, Missouri, West Virginia, Delaware, Rhode Island, Vermont, New Hampshire, Maine, Alaska, the District of Columbia, Puerto Rico, Guam, the US Virgin Islands, the Northern Mariana Islands, and American Samoa. Some of these jurisdictions have stated publicly that they are awaiting the outcome of the AICPA-NASBA Uniform Accountancy Act (UAA) Section 5 and Section 23 amendments before acting.

UAA mobility and the substantial-equivalency question

The patchwork raises a substantial-equivalency question that is the central debate in the profession as of mid-2026. NASBA’s Uniform Accountancy Act Section 23 governs mobility, providing that a CPA licensed in a jurisdiction that is “substantially equivalent” to the UAA can practice across state lines without obtaining a separate license in each state. The UAA as currently drafted (Eighth Edition, March 2018, with amendments through 2023) defines substantial equivalency by reference to the 150-hour education requirement and one year of experience. The AICPA-NASBA joint Pipeline Acceleration Plan, published May 2024, proposed a UAA amendment to extend substantial equivalency to candidates who have 120 hours plus two years of experience, which is the model adopted by the states that have enacted rollbacks. The proposed UAA amendment was opened for public comment in October 2024 and the comment period closed January 31, 2025. As of June 2026, the UAA amendment has been approved in principle by both the AICPA Board of Directors and the NASBA Board of Directors but has not yet been published in final form, with the publication target now stated as the third quarter of 2026.

The practical effect for cross-state practice in mid-2026: a CPA licensed in Ohio under the new 120-hour pathway cannot rely on UAA Section 23 mobility to practice in a 150-hour state until either (a) the destination state amends its own statute to recognize the new pathway, or (b) the final UAA amendment is published and adopted by the destination state. Several state boards (Florida, North Carolina, and California specifically) have issued statements indicating that they will not recognize 120-hour-pathway CPAs from other states for mobility purposes until the UAA amendment is finalized. The result is a temporary mobility gap for the rollback-state CPA pool.

CPA Evolution exam outcomes

The CPA Evolution exam took effect January 1, 2024, after a multi-year design process led by the AICPA and NASBA. The exam structure changed from four sections (AUD, FAR, REG, BEC) to three core sections (AUD, FAR, REG) plus one of three discipline sections selected by the candidate: BAR (Business Analysis and Reporting), ISC (Information Systems and Controls), or TCP (Tax Compliance and Planning). The BEC section was retired.

2024 cumulative pass rates by section, drawn from the NASBA 2024 Candidate Performance Report published April 2025, were as follows: AUD 47.0 percent (44,128 sections tested), FAR 39.7 percent (38,847 sections tested), REG 60.7 percent (37,094 sections tested), BAR 42.9 percent (15,221 sections tested), ISC 60.4 percent (9,108 sections tested), TCP 73.5 percent (10,394 sections tested). Total CPA Evolution sections taken in 2024 reached 154,792.

Comparison with 2023 legacy section pass rates (NASBA 2023 Candidate Performance Report): AUD 47.9 percent, FAR 42.9 percent, REG 59.2 percent, BEC 57.3 percent (legacy section retired). The 2024 AUD pass rate is essentially flat against 2023, REG is up modestly, and FAR is down 3.2 percentage points. The new disciplines show wide spread, with TCP at 73.5 percent the highest pass rate of any CPA exam section in any year since 2019, and BAR at 42.9 percent the lowest of the three new disciplines and below the retired BEC pass rate of 57.3 percent.

Discipline selection patterns

Among 2024 candidates who completed a discipline section, the selection distribution was BAR 44.4 percent, TCP 30.3 percent, ISC 25.3 percent. The AICPA had publicly modeled an expected distribution closer to one-third each. The over-selection of BAR is attributed by the AICPA Examinations Team to BAR being seen as the closest match to legacy BEC content and the safest selection for candidates uncertain which discipline aligns with their planned career. The under-selection of ISC reflects the narrower career application of the information systems content for candidates not pursuing audit or systems-assurance work. TCP shows the highest pass rate by a wide margin and is over-represented relative to its share of test takers among candidates with tax-firm employment.

Accounting enrollment at US universities

NCES IPEDS Completions data for CIP code 52.0301 (Accounting) plus 52.0302 (Accounting Technology) provides the national series for accounting degrees conferred. Bachelor’s degrees: 57,432 in 2015-16 (the modern peak), 54,890 in 2017-18, 52,481 in 2019-20, 47,070 in 2021-22, and 49,478 in 2022-23. The 2022-23 reading represents a modest recovery from the 2021-22 trough but remains 13.9 percent below the 2015-16 peak. Master’s degrees in accounting: 21,470 in 2017-18, 19,803 in 2019-20, 18,442 in 2021-22, 18,847 in 2022-23. The master’s decline of 12.2 percent peak to current is shallower than the bachelor’s decline, reflecting the partial role of master’s programs as 150-hour-completion vehicles.

The AICPA 2025 Trends in the Supply of Accounting Graduates report, published October 2025, confirms the NCES pattern using survey data from a separate panel of US universities. The Trends report shows accounting bachelor’s completions down 7.8 percent in the 2021-22 cycle versus 2019-20, accounting master’s down 6.4 percent over the same window, and CPA-firm hiring of new accounting graduates down 17.4 percent in 2022 versus 2021. The Trends report also notes that the share of accounting bachelor’s graduates planning to sit for the CPA exam fell from 67.2 percent in the 2017 survey to 58.4 percent in the 2025 survey, an absolute decline of 8.8 percentage points and the lowest reading in the 50-year history of the survey.

The major-selection shift

NCES IPEDS Completions data for all business-related CIP codes (52.xx) shows that total bachelor’s degrees in business grew from 363,799 in 2015-16 to 391,564 in 2022-23, a 7.6 percent gain. Within that total, accounting fell from 15.8 percent to 12.6 percent. The gain came in three CIP groupings: business analytics and management information systems (CIP 52.13 and 52.12, up 41 percent from 2015-16 to 2022-23), finance (CIP 52.08, up 18 percent), and entrepreneurship and small business administration (CIP 52.07, up 39 percent). The substitution out of accounting and into business analytics, finance, and entrepreneurship has been consistent across the AAU public research universities and the AACSB-accredited private business schools.

The AACSB International 2025 Business School Data Guide reports that accounting majors as a share of total undergraduate business enrollment at AACSB-accredited US institutions fell from 14.1 percent in 2017-18 to 10.3 percent in 2023-24, the largest six-year share decline of any traditional business major.

Hiring trends at public accounting firms

BLS Occupational Employment and Wage Statistics for SOC 13-2011 Accountants and Auditors shows a national US employment count of 1,402,840 in May 2018, 1,335,460 in May 2020, 1,392,000 in May 2022, and 1,428,540 in May 2024 (most recent OEWS release, March 2025). Total employment is approximately flat over the six-year window, with a COVID-driven dip in 2020 and recovery thereafter. The flat total against a 33 percent decline in CPA exam candidates indicates that demand for accounting work remains roughly constant while the supply of credentialed candidates is contracting; the gap is being filled by non-credentialed accountants, offshore staff, and AI-assisted automation rather than by credentialed hires.

Big Four US headcount

Big Four US member firms publish headcount in their annual transparency reports. Deloitte US (Deloitte LLP): 153,000 personnel as of May 2024 (Deloitte 2024 US Report), up from 130,000 in 2019. PwC US: 75,000 as of June 2024 (PwC 2024 US Annual Report), up from 64,000 in 2019. EY US: 86,000 as of June 2024 (EY US 2024 Value Realized Report), up from 70,000 in 2019. KPMG US: 39,000 as of September 2024 (KPMG 2024 US Impact Report), up from 32,000 in 2019. Big Four US combined headcount grew approximately 22 percent from 2019 to 2024, even as new accounting graduate hiring at CPA firms fell 17 percent in 2022. The gap is filled by consulting hires (Deloitte consulting in particular), advisory and technology hires (PwC and EY), and continued attrition replacement.

Public Accounting Report’s August 2025 annual rankings show that all of the top 100 US accounting firms grew in revenue terms during fiscal 2024, with a median growth rate of 11.4 percent year over year, and that the top 100 firm headcount grew approximately 5.6 percent over the same window. The Public Accounting Report also notes that 38 of the top 100 firms received private equity investment between January 2021 and August 2025, beginning with Eisner Advisory Group / TowerBrook Capital Partners (August 2021), continuing through Citrin Cooperman / New Mountain Capital (September 2021) and Cherry Bekaert / Parthenon Capital (June 2022), and accelerating in 2024 and 2025 with Baker Tilly / Hellman and Friedman (May 2024), Grant Thornton US / New Mountain Capital (May 2024), and PKF O’Connor Davies / Investcorp and Public Sector Pension Investment Board (June 2025).

Compensation trends

Starting salaries for accounting roles have moved materially over the talent-pipeline contraction. Robert Half Accounting and Finance Salary Guide midpoint figures for entry-level public accounting tax staff: $57,500 in 2020, $59,500 in 2021, $61,500 in 2022, $63,500 in 2023, $65,000 in 2024, $65,750 in 2025, $66,000 in 2026. The cumulative six-year gain is 14.8 percent. Senior staff: $74,500 (2020), $86,500 (2026), a 16.1 percent gain. Audit manager: $108,250 (2020), $128,500 (2026), an 18.7 percent gain. Partner-track senior manager: $146,500 (2020), $172,500 (2026), a 17.7 percent gain.

BLS OEWS for SOC 13-2011 shows median annual wage rising from $71,550 in May 2019 to $79,880 in May 2024 (most recent release), a 11.6 percent nominal increase. CPI for All Urban Consumers rose 21.4 percent over the same window (BLS CPI-U series CUUR0000SA0, May 2019 base, May 2024 reading). Median real accounting wages, on the OEWS data, have therefore fallen 8.1 percent in real terms over the five-year window even with the headline nominal gains. The Robert Half midpoints, which reflect the offered starting salary rather than the realized median wage across the existing workforce, have outpaced inflation modestly at the entry level and tracked inflation roughly evenly at the manager and senior-manager levels.

The widening gap between offered starting salaries and median realized wages reflects the standard pattern of compensation compression: new entrants are bid up to meet market while the existing workforce sees raises capped by firm-level policy and slower-moving labor-cost budgets. Firms that have not adjusted senior-staff and manager salaries upward have seen the highest attrition rates, according to the 2024 AICPA PCPS National MAP Survey published February 2025, which reported median annual voluntary turnover at small and mid-sized CPA firms of 16.4 percent in 2023 against 13.1 percent in 2019.

AICPA-NASBA pipeline initiatives

The AICPA and NASBA have responded to the talent-pipeline contraction with three named initiatives.

Accounting+, launched January 2023. A marketing and awareness campaign targeting high-school students and undergraduate business students, with paid placements on TikTok, Instagram, and YouTube. Campaign budget reported at $7.5 million for 2023 and $9.0 million for 2024 (AICPA Annual Report 2024, published October 2024). The campaign’s tracking survey, conducted by Edelman Data and Intelligence, reported a 12-percentage-point lift in stated interest in accounting careers among the target audience between the 2022 baseline and the 2024 wave.

Pipeline Acceleration Plan, published May 2024. A joint AICPA-NASBA plan with five workstreams: licensure modernization (including the proposed UAA amendment supporting the 120-plus-experience pathway), experience verification standardization, the Experience, Learn and Earn (ELE) program providing online coursework toward the 150 hours through a partnership with Tulane University, employer engagement, and student engagement. The plan was published with a three-year implementation horizon and a stated objective of restoring CPA exam candidate volume to the 2018 peak by 2030.

Center for Audit Quality Discover Audit, launched September 2023. A CAQ-funded program targeting Black, Hispanic, and Native American undergraduate students for audit careers, with stipends, summer programs, and mentorship through the partnering firms (the Big Four plus BDO, Grant Thornton, RSM, Crowe, and Baker Tilly). Program enrollment was 1,247 students in the 2024-25 academic year (CAQ Discover Audit 2024-25 Impact Report).

State CPA societies have launched parallel initiatives. The Texas Society of CPAs, the Illinois CPA Society, and the New York State Society of CPAs have all published 2024 or 2025 pipeline studies and run paid recruiting campaigns at state universities. The Minnesota Society of CPAs originated the rollback debate with its 2023 white paper “The Future of the CPA Pipeline” and has continued to lead on the alternative-pathway implementation.

What this means for accounting firms hiring in 2026

Four implications for firms hiring in 2026.

First, the candidate pool is smaller and more expensive. Entry-level public accounting starting salaries have grown 14 to 19 percent over six years. Firms competing for the shrinking pool have moved to earlier campus recruiting, with offers extended at the end of sophomore-year internships rather than senior-year cycles. The AICPA Trends report documents the timing shift.

Second, the 150-hour rollback creates a temporary mobility complication. CPAs licensed in the nine rollback states under the 120-plus-experience pathway cannot rely on UAA Section 23 mobility across state lines in 2026 until the UAA amendment is finalized. Firms with multi-state practices are routing rollback-state CPAs through dual-licensure in a 150-hour state, or deploying them only in within-state engagements until the UAA position settles.

Third, the offshore share is growing. Big Four India headcount grew from a combined 250,000 in 2019 to approximately 425,000 in 2024 across the four firms’ Global Delivery Networks (Big Four 2024 transparency reports). PKF O’Connor Davies, BDO, Grant Thornton, and Baker Tilly all expanded India and Philippines delivery centers materially during 2023 to 2025. The Public Accounting Report 2025 Outsourcing and Offshoring Survey reports that 71 percent of US top-100 firms now use offshore staff for at least one service line, up from 38 percent in 2018.

Fourth, AI-assisted audit and tax tools are at production scale. CaseWare Sherlock, Thomson Reuters Checkpoint Edge with AI Assist, AuditBoard’s AI Insights module, and the Big Four internal generative-AI assistants (Deloitte’s Sidekick, PwC’s ChatPwC, EY’s EY.ai, KPMG’s KymChat) are in deployment across audit, tax, and advisory workflows in 2024 and 2025. The AICPA PCPS 2024 Technology Survey reported a median 9 percent reduction in audit hours per engagement for firms that had completed a CaseWare or comparable tool rollout, against a zero baseline in 2021.

The combined effect is that audit leverage ratios (the ratio of staff and senior-level hours to partner hours) are coming down at the largest firms even as the senior-level talent pool contracts. Whether this is a structural reset of audit firm economics or a transition-period adjustment is the open question for firm strategy through 2027 and 2028.

For practitioners thinking about launching their own firm in this environment, the CPA firm launch playbook covers credentialing, registration, and client acquisition steps. The CPA pathway guide details the licensure mechanics including the state-by-state 150-hour status. Background research from the Ledgerism series is catalogued in the research library, methodology for ongoing data collection in the methodology notes, and operational guidance for partners managing through the cycle in the partner playbook.

Methodology and limitations

NASBA Candidate Performance Reports are published annually, typically in April or May. The 2024 report (April 2025) is the most recent fully published reading. The 2025 count is expected approximately April or May 2026 and is not reflected here. Candidate counts are by jurisdiction of license application, not residence. State 150-hour status was verified against each state board and the NASBA legislative tracker as of June 2026; nine states have enacted alternative pathways with effective dates in 2026 or 2027, 14 jurisdictions have active legislation pending, and 32 retain the 150-hour requirement without active rollback.

BLS OEWS data for SOC 13-2011 is from the May 2024 release published March 2025. The Robert Half Salary Guide is published each October for the following title year; the 2026 edition was published October 2025. Robert Half figures are proposed starting-salary midpoints for new permanent placements, not realized median wages. NCES IPEDS Completions data is published with an 18 to 24 month lag; the 2022-23 reading is the most recent. The AICPA Trends in the Supply of Accounting Graduates report is biennial; the 2025 edition is the most recent. The 2024 pass rates for the new core sections (AUD, FAR, REG) can reasonably be compared to 2023 legacy pass rates given broadly similar section structure; the 2024 discipline-section pass rates (BAR, ISC, TCP) have no direct legacy comparison. This report will be refreshed annually in May or June following the NASBA release, with quarterly updates to the state-by-state 150-hour table.

How to cite this report

The Ledgerism Brief, “2026 Accounting Profession Talent Pipeline Report: CPA Exam Volume Down 33% Since 2018, State-by-State Rollback of the 150-Hour Rule”, ledgerism.net/2026-accounting-talent-pipeline-report/, as of June 2026. For bulk-data partnerships or licensing of the underlying state-by-state series: research@ledgerism.net.