“Professions are the best in times of anxiety”… Most CPA applicants in 18 years

Input 2021.02.25 16:13

The largest number of people in 18 years flocked to the 1st CPA exam held this weekend in the midst of a novel coronavirus infection (Corona 19). It can be interpreted that as the number of accountants selected increases and the status of the accountants continues to rise amid the continuing employment difficulties due to the coronavirus, competition is increasingly fierce.

According to the Financial Supervisory Service, a total of 13,458 people received the 56th CPA first test this year, up 23.8% (2584) from last year (10,874). This was the largest in 18 years since 2003 (14,655 people), and the largest number of people gathered in 1999 (11,112 people) right after the financial crisis of the International Monetary Fund (IMF). The expected passing of the first exam is 2200, and the competition rate is 6.12:1.

◇ “There is no job like an accountant” Young people jumping into CPA

Accountants produced in Korea are steadily increasing. The number of successful applicants from 90 to 100 until the 1980s increased to 200 to 500 from the 1990s. Since then, in the 2000s, the number has risen between 800 and 1,000, and has been increasing again since 2018. The number of people to be selected this year is 1,100.

The recent increase in the number of accountants selected is related to the New External Audit Act (Act on External Audit such as Revised Co., Ltd.), which took effect since November 2018. This is because the introduction of the standard audit part-time system and periodic auditor designation system increased overall external audit work, resulting in more accountants selected from accounting firms, general institutions, and public institutions. However, it is unclear how long the manpower increase will continue.

The continued employment difficulties for young people due to the coronavirus also affected the increase of inquirers for accountants. Looking at the ‘2020 Annual Employment Trend’ of the National Statistical Office, the expanded unemployment rate for youth (15~29 years old) last year was 25.1%, up 2.2 percentage points (P) from the previous year. From 2015 (21.9%) when statistics began to be prepared, it rose 1%P for four years and then soared last year.

The extended unemployment rate is a concept that includes both the unemployed and the employed and potential job seekers who want to work more. It is also called the’experienced unemployment rate’ because it shows the actual unemployment situation in the labor market better than the official unemployment rate, which counts only those who are looking for work.

Lee Mo (26), who graduated from the Department of Business Administration at a four-year university in Seoul, said, “When I was in school, I had never thought of a path other than a private company, but the corona broke out upon graduation.” I thought it was efficient to prepare for the exam,” he said.

The treatment of the accountant’s salary and work environment is also improving. The accounting industry was booming after the enforcement of the new external reduction law. According to the Financial Supervisory Service, sales of 185 domestic accounting firms, including’Big 4′(Samil, Samjung, Hanyoung, Anjin Accounting Firm) in the fiscal year of 2019, increased 13.2% from the previous year to KRW 3.922.6 trillion.

An accounting industry official said, “It is practically difficult because the legal responsibility has become heavy due to the revision of the External Subtraction Act, but it is true that the annual salary increase was made as the audit fee increased.” It will have no choice but to have an impact,” he said.

◇ Test scenery changed by corona… Even confirmed patients can take the test

As the social distancing from coronavirus has been elevated, the organizers have come up with more detailed quarantine rules than last year in accordance with government guidelines. This time, there is a new regulation that not only self-quarantine but also corona confirmed patients can take the test.

If the test taker is a confirmed person, if they submit a statement of the doctor’s opinion, they will be given an opportunity to take the test at the local hospital and the life treatment center designated by the Central Accident Training Center. As in last year, self-quarantine people bring their permit to go out to the public health center and take the test in a separate space.

Financial Supervisory Service Accounting Bureau official said, “Last year, confirmed patients were not allowed to take the test at all. Like self-quarantine, if you submit the application and documents that meet the conditions in advance, you can take the test under the supervision of a separate supervisor. “I have.” It did not disclose the status of applications such as confirmed cases.

In addition, candidates are required to wear a mask, hand sanitizer, and heat test when entering the test site. In addition, you must bring an individual lunch box, and you must sit down and eat in a single direction. Unless there are special circumstances, you should refrain from moving during meals.