Michael Colgan, CEO and Executive Director of the Pennsylvania Institute of Certified Public
Accountants, visited Waynesburg University last Thursday to speak about the changing business world and the outlook for certified public accountants.
The Waynesburg University Business Club brought Colgan in to address students. Colgan, a Drexel University graduate, spoke in Alumni Hall to a total of 96 students last Thursday.
Colgan said that because of the retirement of many baby boomers, there is a high job outlook for certified public accountants.
“There are 10,000 baby boomers retiring each day,” said Colgan. “That is a lot of people leaving the profession.”
Colgan spoke about the benefits of becoming a certified public accountant, which include earning 10 to 15 percent more than an accountant without the CPA credential and not having to worry about being unemployed.
Colgan also talked about technology, how the audit has changed and the commitment it takes to become and stay a certified public accountant.
“You are making a commitment to lifelong learning,” said Colgan. “That is how fast things are changing.”
Another main topic of Colgan’s speech was the CPA exam, which one must pass in order to become a certified public accountant.
While the test is considered by many as daunting, Colgan said that the profession embraces young new members.
“The profession is ready for you to come in,” said Colgan.
Justin Kunschick, senior accounting major and Business Club treasurer, said that this is the Business Club’s third speaker this year.
Kunschick said that all of the Business Club’s speakers have brought a common theme to their on campus speeches.
“Each speaker has discussed the various career paths that an aspiring business professional could take,” said Kunschick.
Kunschick said the Business Club benefited greatly from his speech and presence on campus, especially because he answered some big questions that many accounting majors are faced with when deciding what they want to do with their degree in the field.
“The biggest question for Accounting majors coming out of college is the decision to take the CPA exam or not,” said Kunschick. “Mr. Colgan gave a lot of insight on how to make this decision.”
Regarding the CPA exam, Colgan said those planning to take the exam in June, should register by April.
Kunschick was also personally influenced by Colgan’s speech.
“Mr. Colgan granted me insight over how technology has statistically molded the accounting profession in becoming more knowledge based than ever before,” said Kunschick.
Colgan also addressed how students can get involved with the Pennsylvania Institute of Certified Public Accountants. The institute has a student member program that is free of charge to join and offers students the ability to network with professionals. There is also a scholarship that the organization offers each year.
The deadline to apply is March 19, and the application can be found at PICPA.org under the ‘Future CPA’s’ tab.
To learn more, see Jayne Olshanski, Assistant Professor of Accounting, who has materials left by Colgan and information on getting involved with PICPA.