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 Financial Business Partner Registered Apprenticeship program in the state.
Funding from the grant will cover teaching-related costs for at least 25 new apprentices.
Through the state’s apprenticeship and training program, more than 12,000 apprentices are registered with 3,879 employers across the state and trained in new job skills. “From day one, Governor Hogan has focused on leveraging common sense solutions to increase and expand economic opportunity for all Marylanders,” Secretary Tiffany Robinson said. “His unwavering support for registered apprenticeships has enabled the Maryland Labor Party not only to increase the number of apprentices in our state to historic levels, but to grow and diversify the industries and occupations our successful apprenticeships serve. Our partnership with AICPA is A consistent step in the right direction.”
Apprenticeships open up a new path for those looking to pursue careers in accounting and finance, while offering employers a program to help develop, retain and diversify talent. Apprenticeships combine paid on-the-job training, on-site mentoring by employers and potential financial incentives to reduce employer costs. AICPA offers online structured learning for registered apprentices through CGMA® Financial Leadership Program.
“The war for talent has intensified and the need for more skilled accounting and finance talent has become more urgent,” said Tom Hood, Executive Vice President, Business Engagement and Growth, CPA, CGMA, CITP, AICPA. “Our apprenticeships combine world-class study programmes with mentoring and on-the-job training to help employers recruit and develop their own workforce, delivering the workplace that a 21st century workforce expects – diverse, inclusive, collaborative and innovative .”
Registered in Maryland, AICPA’s apprenticeship program is competency-based and flexible for new and current employees as well as employees with four-year degrees and those working toward a two-year degree. It is the first of its kind in the country for accounting and finance.
“Apprenticeships provide a ‘earn-while-learning’ opportunity, which means employees study the CGMA Financial Leadership Program and receive on-the-job training, while still earning a living,” said Joanne Fiore, Vice President, Plumbing and Apprenticeships, CGMA Americas. at AICPA association. “Apprenticeships help build a more inclusive accounting and finance team by broadening the pool of candidates for consideration. Not every candidate must have all skills, experience and education up front, as apprenticeships provide access to these skills Opportunity.”
Maryland was the first state to register apprenticeships with the American Institute of Certified Public Accountants. AICPA partners with the Maryland Institute of Certified Public Accountants to raise awareness and develop apprenticeships in the state.
“This apprenticeship program is an exciting partnership with AICPA and the State of Maryland to support more Marylanders, including those seeking entry into the accounting and finance professions and the need for more talent in this critical field businesses,” said Rebekah Brown, CEO, Maryland Institute of Certified Public Accountants.
AICPA is also a member of the Greater Washington Apprenticeship Network, which provides resources for employers seeking to implement apprenticeships.
The first round of apprenticeships is expected to register in the fall.For more information on the apprenticeship program, visit AICPA’s Financial Business Partner Apprenticeship or email ApprenticesUS@aicpa-cima.com.