University Honors

The accounting profession is undergoing substantial disruption, characterized by declining student enrollment, workforce shortages, and persistent diversity challenges. Central to this issue is the 150-hour rule, a licensure requirement that goes beyond a traditional four-year degree by requiring 150 college credit hours, often, but not always, necessitating an additional year of coursework. This paper examines how the rule has influenced accounting education, shaped the pipeline of Certified Public Accountant (CPA) candidates, and contributed to systemic barriers, particularly for underrepresented and economically disadvantaged students. Through a mixed-methods approach, the study integrates quantitative data from the U.S. Bureau of Labor Statistics with a review of scholarly literature, policy documents, and industry reports. It compares employment and wage trends in accounting to other business professions and evaluates how emerging career alternatives are drawing students toward fields with fewer barriers and higher compensation. The paper also contextualizes these developments within broader legislative changes, such as the Sarbanes-Oxley Act. Findings suggest that although the 150-hour rule was designed to elevate CPA readiness, it has had a limited effect on exam quality while substantially reducing candidate participation. Proposed reforms, including competency-based licensure models, may offer viable solutions if implemented thoughtfully. Ultimately, the paper argues that the profession must balance its commitment to rigor with renewed attention to accessibility, equity, and long-term sustainability to reverse the CPA pipeline decline.