How retiring CPAs inspire their successors
- Merilyn Gomez-Cheng
- Oct 15
- 2 min read
A STUDY published by De La Salle University says that millennials now comprise a significant number of CPAs in accounting firms in the country. This means those in their late 40s and above are approaching, or have reached, retirement age.
There is no publicly available data of CPAs in the Philippines who are of retirement age, but the profession is experiencing a notable generational shift — with many older CPAs nearing retirement, and a growing reliance on younger professionals, which points to a looming generational gap.
The aging CPA population suggests that firms need to prioritize succession planning and start mentoring the younger generation. The wisdom and guidance of retiring CPAs are proving essential in cultivating the next wave of accounting professionals ready to meet the demands and challenges of the job.
Here’s how they are making a lasting impact:
Knowledge transfer
Retiring CPAs must know the importance of bridging the gap between academic learning and real-world practice, particularly in specialized areas such as tax planning strategies, quality audits and regulatory compliance.
Teaching, writing
Some retirees become guest reviewers, special lecturers, or consultants to universities offering the Bachelor of Science in Accountancy program, mentoring students and introducing them early to real-world cases or scenarios for a better understanding of the practice. Others contribute through writing articles, books or formulation of practice sets that help students adapt to the evolving standards of the profession.
Nurturing future leaders
Many retiring CPAs focus on succession planning, ensuring their firms are passed on to capable hands. This includes identifying and nurturing future leaders within the organization. Most importantly, they instill the core values of integrity, resilience, and diligence as cornerstones of the profession that younger CPAs need to carry forward, especially amid the very challenging positions of CPAs in corruption issues in government.
Embracing technology
Retiring CPAs often encourage younger professionals to embrace technology, such as cloud accounting, AI tools, and data analytics, alongside understanding the importance of foundational principles. Their openness to adapt or improve helps younger CPAs feel empowered to modernize the field without losing its core values.
Purpose, passion
By sharing stories of overcoming challenges and establishing client relationships, retiring CPAs inspire newcomers with purpose and passion for the profession. Their legacy serves as a reminder that accounting is not just about numbers — but also about trust, impact, and lifelong learning.
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Merilyn Gomez-Cheng is a member of the media affairs committee of the Association of Certified Public Accountants in Public Practice (ACPAPP).
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