There Are 340,000 Fewer Accountants, and Companies Are Paying the Price

Mistakes continued to pile up this earnings season in the wake of Lyft Inc.’s market-roiling typo: Planet Fitness Inc., Mister Car Wash Inc. and Rivian Automotive Inc. all had to correct their quarterly earnings statements. These types of errors shake investor confidence and, in extreme cases, can result in heavy fines from the U.S. Securities and Exchange Commission (SEC).

While it’s unclear what exactly led to the mistakes in each of these cases, one major risk factor has reached crisis levels: a shortage of certified public accountants.

Source: There Are 340,000 Fewer Accountants, and Companies Are Paying the Price