Forces for change in higher education and implications for the accounting academy

- Reviews the forces for change in higher education in the US.
- Summarizes the effects of financial forces and technological forces on higher education in the US.
- Implications for accounting progams and accounting faculty as regards the forces for change.
- Offers survey evidence regarding recent curricular and faculty change efforts in accounting.
- Strategic responses to the forces for change in higher education in the US.

Accounting educators need to understand the forces for change in higher education, as well as the current state of accounting programs. Part I of this paper describes how financial and technology forces have combined to dramatically change the milieu of higher education. In terms of financial forces, we examine changing student demographics, the level of student debt, shrinking levels of governmental support, and philanthropic limitations. We conclude that the financial model that has served postsecondary education well for many years is now significantly strained. In terms of technology forces, we examine the growth of offshoring and automation of accounting/finance jobs; and a growing skills/competency gap, both in the general job market and in the accounting profession. Technology advances have transformed academic research and publishing, and have been incorporated into familiar ways of teaching. However, as yet, they have not significantly changed either what we teach (curriculum) or how we teach (pedagogy); changes in these areas may accompany future financial models. We provide examples of institutional responses to date and discuss the importance of strategic planning. Part II of this paper considers the implications for accounting academia. We report the results of a survey of accounting program leaders, including examples of recent curricular and faculty (staffing) changes. We recommend strong faculty involvement in change efforts, but also discuss simpler ways that faculty can get involved in efforts to face the forces for change. Concluding thoughts consider both the window of time to institute major change and ideas for future research.