This article was displayed on the ChosunBiz RM Report site at 3:55 p.m. on Apr. 3, 2026.
Accountants, once called the "guardians of capitalism" and the "flower of the professions," are wavering. It is the result of an entrenched system of overwork that repeats every audit season. A widespread practice known as "time-eating," which reduces recorded work hours, is also prevalent. We examined on-the-ground conditions through testimony and surveys of some 200 former and current accounting industry workers. [Editor's note]
I worked close to 100 hours a week every audit season, and I thought it was better to look for another path than to endure that.
A job seeker, a person surnamed Park, 25, said they recently gave up preparing for the Certified Public Accountant (CPA) exam. Park said they could accept a surge in workload during specific periods like the "audit season," but it was hard to shoulder tasks that were beyond manageable.
The so-called "unassigned accountant" issue and the industry's uncertain outlook also played a role. Park said, "Even if you invest years, you can't be sure of passing the CPA exam, and if you can't continue your career stably even after passing, I decided it was better to find another path."
The number of people attempting to become accountants has dropped noticeably recently. The controversy over unassigned accountants who cannot receive training after passing has had an impact, but stagnant treatment despite heavy workloads and concerns about the age of artificial intelligence (AI) are also cited as reasons.
◇CPA exam competition at a five-year low
According to the Financial Services Commission on the 6th, 14,614 people applied for the 2026 CPA exam, the lowest in the past five years. Competition for the first exam also fell to 5.22 to 1, the lowest level in the same period.
Applicants rose about 75% from 9,622 in 2019 to a peak of 16,941 in 2024, then turned downward for two straight years.
The biggest burden cited by test takers is the working environment. From January to March, when corporate accounting audits are concentrated, workloads reportedly approach 100 hours a week. On online communities for aspiring accountants, reactions included, "Even if you get hired, you'll be overworked," and "Hesitant to enter because there's no good news."
Junior accountants said these concerns are not far from reality. Accountant A said, "It's not easy to give up a license earned after years of effort, but many around me are considering resigning due to health issues."
Conditions at small and mid-sized accounting firms are even worse. As so-called "dumping," or taking on audits at lower fees, spreads, there are complaints that compensation is insufficient for the workload. In the industry, some say starting pay for junior accountants has stayed at levels from 10 years ago.
Accountant B said, "Because of dumped audit fees and other factors, salaries have been effectively frozen for years," adding, "As the pay gap with large companies widens sharply, many are considering changing jobs."
◇"Nowhere to go even if you pass"… surge in unassigned accountants
Recently, the unassigned accountant problem has been heightening uncertainty across the industry. CPA passers must complete two years of on-the-job training to obtain full qualification, but more are failing to secure training slots. Critics say it is effectively a "structure where it is hard to become an accountant even if you pass."
Training had long been centered on the Big Four accounting firms, but as the financial authorities expanded intake while accounting firms cut hiring, the number of unassigned people surged.
According to The Korean Institute of Certified Public Accountants, of 1,200 CPA passers last year, 862 were unassigned as of October that year. As of the 1st of this month, a group chat for unassigned accountants with about 500 participants was also reportedly operating.
Accountant C, who is unassigned, said, "I have no idea where to do my training," adding, "When I apply to private companies, I'm penalized on the assumption I'll go back to an accounting firm, and I'm not hired by the firms either, so I effectively have nowhere to go."
The spread of AI is also cited as a source of anxiety. While many on the ground say its effects are still limited, concerns are growing that automation of routine accounting and audit work could reduce demand for junior staff.
The Korea Employment Information Service classified accountants among the occupations most exposed to AI substitution risk in a report last year. The World Economic Forum (WEF) also ranked accountants seventh among jobs likely to decline in the future.
Accountant D said, "Until 2021, the perception that it was a high-earning profession was strong, so I entered the industry, but after years of salary freezes, heavier workloads, and the unassigned accountant issue, I think the perception of the job has fallen a lot."