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.
Seasoned practitioners are retiring while the profession isn't drawing the next generation of workers entering the labor market. The lack of help means current accountants' hours and workloads can be grueling, upping the odds of mistakes and burnout.
Yet despite the plentiful job openings, students aren't racing to major in accounting. For many, the typical entry-level job doesn't pay enough to make the needed fifth year of college tuition worth it.
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