The Public Role of CPAs in Elective Office; A Call to Action for Meaningful Financial Stewardship in Government Accountability

By Joseph DioGuardi, CPA Former Andersen Partner and United States Congressman

Copyright 2025 The CPA Journal. This article originally appeared on The CPA Journal and can be found here Reprinted with permission. No further reproduction is permitted without permission from The CPA Journal

The passage of the landmark Bipartisan Infrastructure Law (Infrastructure Investment and Jobs Act, IIJA) by Congress underscores the urgent need for CPAs to engage actively in the political arena. As the first practicing CPA ever elected to the U.S. Congress in 1985 and the original author of the Chief Financial Officers (CFO) Act of 1990, I have witnessed firsthand the transformative impact that financial expertise can bring to public service. The CFO Act, which sought to add fiscal discipline and accountability to the congressional budget, has yet to be implemented. Today we run an annual deficit of $3 trillion with a $33 trillion plus cumulative deficit, which amounts to debt of $300,000 for each man, woman, and child in America!

I have long believed that CPAs are the most effective watch dogs of fiscal responsibility available and as such must play an essential role in saving America from a fiscal doomsday. A lack of financial accountability and fiscal responsibility has brought down many states before, and this is history America should want to avoid repeating.

The IIJA allocates significant funds across important sectors of the U.S. economy, including healthcare, infrastructure, and education, and is a testament to the complexity and magnitude of managing public resources. It is a reminder that every dollar spent by the government must be accounted for—transparently and, I have consistently argued, in accordance with “generally accepted accounting principles” (GAAP). CPAs, with their rigorous training in financial analysis, auditing, and ethical standards, are uniquely equipped to ensure that taxpayer funds are used efficiently and honestly by government officials.

Why should CPAs get involved in politics, and what can they do to foster government accountability? The answer lies in the core values of the CPA profession: integrity, objectivity, and a commitment to protecting the public interest. These values are desperately needed in the political sphere, where financial decisions have far-reaching consequences for society. CPAs, with their training and ethical standards, can bring a valuable perspective to policy-making, one that prioritizes transparency, accountability, and fiscal responsibility.

One of the key provisions of the IIJA is the increased funding for infrastructure projects. This is a welcome development, as America’s infrastructure has been in dire need of modernization. But with increased funding comes the risk of misallocation, waste, and even fraud. CPAs in elected office can provide the oversight necessary to avoid such pitfalls. CPAs’ expertise in auditing and financial management can help design systems that track spending, evaluate project performance, and ensure that funds are used for their intended purposes. This level of scrutiny is essential to maintaining public trust and ensuring that large-scale investments yield the desired economic benefits.

The IIJA also includes substantial investments in healthcare, aiming at expanding public access and improving quality. Healthcare funding is notoriously complex, involving multiple stakeholders and intricate payment and funding mechanisms. CPAs have the skills to navigate this complexity and hold healthcare providers accountable. Their involvement can help prevent fraud, reduce administrative costs, and ensure that more resources are directed towards patient care.

Education funding presents its own set of challenges. Ensuring that funds reach classrooms and benefit students directly requires meticulous planning and oversight. CPAs can bring their expertise in budgeting and financial planning to the table, helping to design funding models that maximize financial impact and promote equity. Their involvement can also ensure that educational institutions are financially sustainable over the long term improvements in the quality of education.

Finally, CPAs have a social responsibility to use their skills for the greater good. By running for political office, they can ensure that public resources are managed wisely and that government policies are designed to promote public equity, economic stability, and sustainable growth. Their involvement can help bridge the gap between the worlds of finance and public policy, ensuring that decisions are grounded in sound financial principles like GAAP. Turning a blind eye on the need for transparent accounting in government is short-sighted.

By stepping into the political arena, CPAs can bring their expertise to bear on the most pressing issues of our time, from healthcare and education to infrastructure and beyond. They can ensure that public resources are used efficiently, that government operations are transparent, and that policies are administered with the public interest in mind.

Accordingly, I urge my fellow CPAs to consider the professional impact they can have by getting involved in the public sector. By taking up the mantle of public service, CPAs can make a lasting difference, helping to build a more fiscally responsible and equitable society for all.

Joseph J. DioGuardi, CPA, is the president of Truth in Government (https://www.truthingovernment.org ), New York, N.Y., and a former member of the U.S. House of Representatives.