AICPA Secures Maryland Grant to Expand Finance Business Partner Apprenticeship Program
The American Institute of Certified Public Accountants (AICPA) announced a grant of nearly $120,000 from the Maryland Department of Labor to expand its Registered Apprenticeship for Finance Business Partners. The funds will cover instruction costs for at least 25 new apprentices, addressing the growing demand for skilled accounting and finance talent.
WASHINGTON, DC — September 21, 2022 – The American Institute of Certified Public Accountants (AICPA) has received a grant of nearly $120,000 from the Maryland Department of Labor to expand its Registered Apprenticeship for Finance Business Partners within the state. The funding will cover instruction-related costs for a minimum of 25 new apprentices. Through Maryland’s Apprenticeship and Training Program, more than 12,000 apprentices are currently registered to acquire new job skills with 3,879 employers across the state.
“Since day one, Governor Hogan has been focused on utilizing common sense solutions to grow and expand economic opportunities for all Marylanders,” said Secretary Tiffany Robinson. “His steadfast support for Registered Apprenticeship has allowed Maryland Labor to not only grow the number of apprentices in our state to an historic level, but also to grow and diversify the industries and occupations that are served by our successful apprenticeship system. Our partnership with the AICPA is a continued step in the right direction.”
The apprenticeship program creates a new pathway for individuals pursuing accounting and finance careers, while equipping employers with a framework to develop, retain, and diversify their talent. Apprenticeships combine paid on-the-job training, mentorship at the employer’s site, and potential financial incentives to reduce employer costs. The AICPA delivers online, structured learning for registered apprentices through the CGMA® Finance Leadership Program.
“The battle for talent is increasing, making the need for more skilled accounting and finance talent even more pressing,” said Tom Hood, CPA, CGMA, CITP, Executive Vice President of Business Engagement & Growth at the AICPA. “Our apprenticeship combines a world class learning program with mentorship and on-the-job training, which helps employers recruit and grow their own, providing the kind of workplace the 21st century workforce expects – diverse, inclusive, collaborative, and innovative.”
The AICPA’s apprenticeship program, registered in Maryland, is competency-based and flexible. It is open to new hires, incumbent employees, individuals with four-year degrees, and those pursuing a two-year degree. It is the first program of its kind in the nation for accounting and finance.
“Apprenticeships offer an opportunity to ‘earn while you learn,’ meaning that employees study the CGMA Finance Leadership Program and receive on-the-job training while also earning a living,” said Joanne Fiore, Vice President, Pipeline and Apprenticeships, CGMA Americas at the AICPA Association. “And apprenticeships help build a more inclusive accounting and finance team by widening the aperture of candidates to consider. Not every candidate has to have all the skills, experience and education up front, because the apprenticeship provides the opportunity to gain them.”
Maryland is the first state where the AICPA has registered its apprenticeship, in addition to the national registration with the US Department of Labor (USDOL). The AICPA has partnered with the Maryland Association of CPAs to raise awareness and grow the apprenticeship in the state.
“This apprenticeship is an exciting partnership with the AICPA and the State of Maryland to support more Marylanders, both those seeking to enter the accounting and finance profession and those businesses in need of more talent in this critical area,” said Rebekah Brown, CEO, Maryland Association of CPAs.
The AICPA is also a member of the Greater Washington Apprenticeship Network, a resource for employers seeking to implement apprenticeships. The first round of apprentices is expected to be registered in the fall. For more information about the apprenticeship program, visit AICPA’s Finance Business Partner apprenticeship page or email [email protected].
About the American Institute of CPAs
The American Institute of CPAs® (AICPA®) is the world’s largest member association representing the CPA profession, with more than 421,000 members in the United States and worldwide, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for its members and U.S. auditing standards for private companies, not-for-profit organizations, and federal, state and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, builds the pipeline of future talent and drives continuing education to advance the vitality, relevance and quality of the profession.
About the Maryland Association of CPAs
The Maryland Association of CPAs helps CPAs connect with each other in strategic ways, to protect members’ interests, and to help them achieve greater success. The MACPA provides resources and services that CPAs need to excel in their profession. Since 1901, the MACPA has been a national leader in the CPA profession. The Baltimore Business Journal and Washington Business Journal have named the MACPA among the largest networking organizations in Baltimore and Washington, D.C., for each of the past five years. For details, visit MACPA.org.
