The Tuesday Lowdown ⬇️

If you're new around here, every day I share the 4-5 best accounting insights I saw in the past 24 hours.

I scroll. so you don't have to.

💎 WTF of the Day

CPA Exam Pass Rates Are in Free Fall

The CPA exam is chewing up candidates and spitting them out. Pass rates just tanked to some of the lowest levels in history, leaving future accountants wondering if the test is broken, or if the pipeline is drying up.

What’s going on? The 2024 CPA Evolution changes introduced a new exam format, and early data suggests it’s way harder than expected. Add in fewer people even taking the test, and the accounting industry’s talent shortage just got worse.

Source: Going Concern

💎 What’s poppin in accounting

PCAOB Might Get Absorbed by the SEC

The AICPA is gearing up for a major shake-up in the regulatory world, the PCAOB might get folded into the SEC. If this happens, it could reshape how audits are regulated and give the SEC even more power over accounting oversight.

Why does this matter? The PCAOB was created after Enron to keep audit firms in check. Merging it with the SEC could mean tighter rules, more enforcement, and a whole lot of red tape for firms. Accountants better start paying attention, this could get messy.

Source: Accounting Today

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 📊 Weekly Trend Chart

The U.S. Government Payroll Just Keeps Growing

Federal agency employment has ballooned in recent years, with certain departments growing way faster than others. While some agencies have trimmed down, others like Veterans Affairs and Homeland Security, have been on a hiring spree.

Why does this matter? More government jobs mean more spending, more regulations, and more red tape for businesses. And with ongoing budget battles in D.C., don’t be surprised if hiring trends become the next political football.

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