At Least 1,150 CPAs to Be Selected Next Year... Only 50 Fewer Than This Year

The minimum number of certified public accountants (CPAs) to be selected next year has been set at 1,150. Despite the fact that hundreds of newly qualified accountants remain unemployed because they have not even been assigned to training institutions, the reduction is limited to just 50 fewer than this year.

The Financial Services Commission announced on the 22nd that it had held a Certified Public Accountant Qualification and Disciplinary Committee meeting on the 21st and decided to set the minimum number of CPAs to be selected in 2026 at 1,150. The minimum number refers to the absolute minimum number of successful candidates, so the actual number of those who pass could be higher depending on the results of the second round of exams. The number of candidates who will pass the first round of exams has been set at 2,800.

Next year’s minimum selection is lower than last year’s 1,250 and this year’s 1,200. However, it is higher than the 1,100 selected annually from 2020 to 2023. The Financial Services Commission explained, “We made this decision by comprehensively considering the burden of supply and demand due to the accumulation of unplaced successful candidates, stagnant sales and profits at accounting firms, demand for accountants at non-accounting firms, and the need for predictability for exam takers.”

However, the more serious issue is the growing controversy over so-called “unassigned accountants,” who, despite qualifying as new accountants, have not even been assigned to practical training institutions. Those who pass the exam must complete more than one year of training at a practical institution to register as a CPA. In recent years, even though the Big Four and other accounting firms have been assigned more trainees than they require, it is estimated that around 600 individuals currently remain unemployed.

In response, the Financial Services Commission discussed improvement measures at the committee meeting, including expanding the number of practical training institutions. The commission stated, “We plan to prepare concrete institutional improvement measures in the first half of next year through discussions with the Korean Institute of Certified Public Accountants and other stakeholders,” adding, “We will continue our efforts to respond to the market demand for accounting professionals and to foster highly capable accounting experts.”