February, often known as the month of love, invites us to reflect on what we truly care about—our relationships, our values, and for many professionals, our sense of purpose. Yet for the accountancy profession, this season of reflection reveals a quiet but growing concern: a noticeable loss of passion for the craft. In fact, universities have reported a 41% drop in accounting program enrollees, alongside a 35% decline in CPA board examinees from 2019 to 2023. Over the past century, the Philippines has produced only 199,000 Certified Public Accountants, these figures point to a profession that is slowly losing its appeal despite its significant role in building trust, transparency, and economic stability.
Understanding the student experience
For many students, choosing accountancy means stepping into a world defined by pressure long before entering the workforce. The decision to pursue this degree increasingly comes with apprehension. Even at the undergraduate level, students are exposed to the realities of a demanding curriculum and the perceived difficulty of the CPA Licensure Examination (CPALE), which historically posts low passing rates. With passing rates historically averaging around 30%, and when the CPALE is widely known for its low passing rates, it creates an impression that the dream of becoming a CPA is difficult to reach.
This anxiety is intensified by structural changes in education. With the implementation of K–12, the accountancy program was compressed from five years into four, resulting in denser coursework, tighter deadlines, and longer study hours. Continuous assessments, departmental examinations, and licensure preparation often lead to fatigue and burnout. These stories circulate freely that makes their journey appear exhausting before it even begins. For many students, the challenge lies not only in mastering technical competencies but also in sustaining motivation and well-being throughout the journey.
Practical considerations also play a role. Today’s students are more aware of opportunity costs. Some opt for courses that appear more flexible, faster to complete, or less mentally demanding. Accountancy, by contrast, requires long-term commitment and delayed gratification. Given varying personal circumstances, economic pressures, and shifting career priorities, many choose paths that feel more immediately rewarding.
Why professionals remain in practice
Although despite these pressures, the practice of accountancy continues to attract individuals who value depth, adaptability, and long-term relevance. It is a discipline that cuts across industries and adapts to changing environments. Accountants can move between audit, tax, advisory, academe, government, and private enterprise. This flexibility allows professionals to shape careers that align with their evolving interests and life goals.
Beyond career options, the profession carries a reputation anchored on trust, integrity, and credibility. Whether in public practice, corporate settings, or public service, accountants ensure that they remain relevant in this economic landscape. Personally, my journey through accountancy builds resilience. The discipline required to meet deadlines, master complex concepts, and withstand pressure often translates into stronger character. Many professionals reflect that the profession did not just shape their careers, but it also shaped who they became.
Those who choose to stay in the profession often do so because of what it teaches beyond technical knowledge. Even before entering the workforce, an accountancy degree trains students to remain calm under pressure. The rigor of academic training mirrors professional realities, where deadlines, accountability, and ethical judgment are integral to daily work.
More importantly, accountants recognize the broader implications of their responsibilities. Numbers are never just numbers; they influence decisions, affect livelihoods, and shape public trust as we live in a developing economy where transparency and good governance remain critical priorities.
Reconnecting with the profession’s purpose
Sustaining passion in accountancy requires reconnecting with its foundational purpose. Reconnection begins when professionals step back and see the bigger picture. Accountants help ensure that financial information aligns with standards, reflects reality, and can be trusted by stakeholders. This responsibility—though often unseen—has far-reaching impact.
Viewing accountancy through this broader lens allows practitioners to appreciate their contribution to economic stability, ethical business practices, and institutional credibility; the outcomes that extend far beyond financial statements.
Strengthening the education-to-practice pipeline
Reigniting passion cannot rest on individuals alone. It is a shared responsibility with professional bodies, firms, and leaders in nurturing environments where passion can thrive. Mentorship programs support knowledge transfer and professional growth, while clear career pathways help manage expectations and long-term engagement.
Accountancy must continue to be positioned as a noble profession, one that serves as a check and balance within organisations, markets, and society. When this role is reinforced through culture and leadership, professionals are more likely to remain committed and motivated.
Additionally, regulators, schools and professional organisations must also adapt by showcasing the diverse career paths in accountancy can reshape how students perceive the profession. Showing them that beyond the traditional image of long hours and exams lies a career that enables influence, mobility, and impact.
Our collective responsibility
For those considering a career in accountancy, the decision ultimately comes down to intention and values. Every profession presents a choice: the pursuit of growth, which often demands discipline, resilience, and continuous learning, or the pursuit of stability, which may offer predictability and ease. Accountancy has never promised the easiest path, but it has consistently offered growth.
Those who choose the profession often do so with the understanding that progress comes through challenges. Mistakes are part of the learning curve, and expertise is built over time. The rigor of accountancy develops professionals who are adaptable, thoughtful, and grounded in strong ethical foundations.
At the same time, stability remains a valid consideration. Accountancy provides long-term career security, mobility across sectors, and relevance in both public and private institutions. It offers professionals the ability to shift paths while retaining a core skill set anchored in trust and credibility. In this sense, the profession does not force a choice between growth and stability, but rather it allows practitioners to experience both, at different stages of their careers.
In the month of love, reflection goes beyond personal relationships and extends to the work we choose to commit to. Like romantic relationships, a “comeback” is not about returning to what once was, but about redefining something that is more improved and more passionate. In that sense, for the new generations and for those who lost their passion, there is hope that accountancy is well positioned for its own comeback: not a profession known only for difficulty and long hours, but as one rooted in purpose, growth, and public trust. And when the profession clearly communicates why the work matters, it becomes a commitment worth falling in love with again.
As published in The Manila Times, dated 25 February 2025
