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Shortage of accountants affecting many big companies
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Seasoned accounting practitioners are retiring, while the profession isn’t drawing the next generation of workers entering the labour market.
PHOTO: PIXABAY
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Mistakes continued to pile up this earnings season in the wake of Lyft’s market-roiling typo: Planet Fitness, Mister Car Wash and Rivian Automotive all had to correct their quarterly earnings statements. These types of errors shake investor confidence and in extreme cases can result in heavy fines from the United States Securities and Exchange Commission (SEC).
While it’s unclear what exactly led to the mistakes in each of these cases, one major risk factor has reached crisis levels: a shortage of certified public accountants.
