The American Accounting Association (AAA) is urging the U. S. Department of Education to reconsider its proposal to remove accounting and other traditional professions from its definition of "professional degree" programs. This proposal aims to reduce student loans, but the AAA believes that excluding accounting from this definition would have significant consequences for students, academic institutions, and the future of the accounting profession (Accounting Today, 2024). The AAA argues that accounting is indeed a profession that requires rigorous preparation, licensure, and serves a critical public-interest role in ensuring transparency, trust, and integrity in financial reporting.
According to Yvonne Hinson, CEO of the AAA, "Accounting is indisputably a profession" (Accounting Today, 2024). The organization contends that removing accounting from the definition of professional degree programs would risk reducing access to advanced accounting education, shrinking the pipeline of future Certified Public Accountants (CPAs), faculty, and researchers.
This, in turn, would undermine global competitiveness in the accounting profession and weaken a critical workforce at a time when demand for accounting professionals is surging, particularly in areas such as analytics, sustainability reporting, technology-enabled assurance, and global compliance. The AAA emphasizes that accounting is a foundational profession globally, and students preparing for careers in auditing, accounting, analytics, ← →
The classification of accounting as a professional degree has significant implications for the future of the accounting profession. Historically, accounting has been considered a professional field, requiring specialized education and training to practice. The American Institute of Certified Public Accountants (AICPA) and other professional organizations have long recognized the importance of rigorous academic preparation for aspiring accountants.
However, the U. S. Department of Education's proposal to remove accounting from its definition of "professional degree" programs has sparked debate about the nature of accounting education and its place within the broader landscape of professional fields.
The classification of accounting as a professional degree has important consequences for students, academic institutions, and the profession as a whole.
For instance, the designation of accounting as a professional degree can influence the types of financial aid and support available to students pursuing advanced degrees in accounting.
The classification of accounting as a professional degree can impact the types of accreditation and evaluation that accounting programs undergo, which can in turn affect the quality and consistency of accounting education.
As Mark Beasley, 2025-26 president of the American Accounting Association, notes, "Students preparing for careers in auditing, accounting, analytics, and regulatory oversight must have equitable access to graduate education" (Accounting Today, 2024).
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