
The AICPA & CIMA launched a new program to enhance the talent pipeline on Sept. 25.
The new program, the Registered Apprenticeship for Accounting and Finance Associate, offers new recruits an “earn and learn” opportunity or upskill those in entry-level positions.
In this new program, apprentices will work directly for the participating organization. Through the initiative, apprentices will receive foundational and operational levels of CGMA Finance Leadership Program instruction, on-the-job training, a progressive wage scale and mentorship.
According to an AICPA & CIMA release, the new program is a “stackable” apprenticeship that may lead into the previously established Registered Apprenticeship for Finance Business Partners Program. It can also be the next step after the Youth Apprenticeship Program.
The earlier apprenticeship for finance business program was the first in the country and is a registered program under the Department of Labor for accounting and finance. It is meant to establish a pipeline of highly engaged recruits that lets companies monitor and develop more skilled and long-term employees.
For this program, candidates must be 18 years old with a high school diploma, passed the General Educational Development test or other high school equivalency and obtaining an associate degree in accounting, finance, business, or related field by the end of the program.
Meanwhile, the Maryland Works Grant initiative supports the Youth Apprenticeship Program and partners with industry finance leaders to create a pipeline for sectors with a high talent need. Eligible candidates must be 16 years old, either a high school junior or senior who meets the school requirements and eligible for the Apprenticeship Maryland program.
The release said registered apprenticeship programs yield results, citing data from the Office of Apprenticeship and Training at DOL. The data showed 91% of employers with apprentices reported an improved pipeline, while 93% of apprentices remained employed a year after completion.
Joanne Fiore, Vice President of Pipeline and Apprenticeships at AICPA & CIMA, stated, “As fewer people graduate from college and the profession faces a talent pipeline crunch, interest grows in roles that do not require a college degree. It made great sense to utilize our learning and apprenticeship program to assist those in entry-level roles to upskill and add value.”