Leaders in the accounting profession have demonstrated an increased commitment to Diversity, Equity and Inclusion (DCI) as this issue has grown exponentially in the past year.

The death of George Floyd a year ago and other incidents of racism sparked social unrest that deeply affected people all over the world. While diversity and inclusion have been on the radar of leaders in the accounting profession for many years, their scrutiny has intensified over the past 365 days.

“It touched people,” said Crystal Cooke, Director – Diversity and Inclusion at the Association of International Certified Professional Accountants. “People had ‘aha moments’ and were reacting in a way that I found refreshing to see. I think deep down people always knew they needed to do more in this space, but now they are taking steps to act.

Significant improvement in DEI in the accounting profession will not happen overnight and will take more than a year to accomplish. It takes time for motivated leaders to develop effective strategies and programs to implement a diverse and inclusive workforce, and then it takes longer for these initiatives to have an impact.

But there are tangible signs that the profession is focusing more on DCI:

• In early April 2020, 58 CEOs of accounting-related organizations had signed the PDG Action for Diversity & Inclusion pledge. As of May 2021, the number of CEOs (of accounting-related organizations) who have committed to taking measurable action to advance diversity and inclusion in their workplaces increased to 94, and that number continues to grow. grow.
• Since June 2020, the Association Membership D&I team has met with over 60 member firms, individual members, Crown corporations and other accounting-related organizations. In addition, Kimberly Ellison-Taylor, CPA, CGMA, has organized over 20 such meetings with firms, members and others. She is a past president of AICPA whose term as president of the AICPA National Commission on Diversity and Inclusion begins Wednesday. The Association’s D&I team has also been invited to present on DCI at over 40 accounting-related events for organizations / firms, often with hundreds of viewers.

“It was time to move beyond hashtags and good intentions, to move beyond silent support,” said Ellison-Taylor, CEO of KET Solutions, a Washington, DC-based consulting firm. / Baltimore. “In response, many companies are stepping up dramatically. The connection between hearts and minds has become clearer. Business leaders were looking to better understand the challenges facing their team members. Allies of the profession expected more while customers demanded that their business partners share their values. “

Ellison-Taylor said leaders in the accounting profession were working to improve DCI in the profession long before the events of last year brought these issues to the fore. But she said companies haven’t gone above the surface in many of their efforts.

Executives understood the need for a great culture and high performing talent, but weren’t entirely clear that their team members experienced the “big business environment differently,” Ellison said. -Taylor. “Business leaders have realized that they need to embrace an inclusive culture more fully in order to achieve a sense of belonging and trust. As a profession that thrives on data, we must be prepared to review our recruiting, hiring, promotions, compensation, work assignments and promotions if we are to make a lasting difference beyond the next unfortunate tragedy. . “

She added: “I am optimistic that together we will achieve meaningful change. Already we have noticed more recognition and promotions from various team members who were ready to be promoted but needed sponsorship to take it to the next level. “

Meanwhile, members of the AICPA National Commission on Diversity and Inclusion also reflected on what they can do differently. As a committee of volunteers, there is consensus that more work needs to be done to bring about changes at the system level, and in the pipeline in the profession, starting at the beginning of the pipeline.

Research has shown that a good number of people who study accounting either knew someone who was an accountant or learned about it in an accounting class in high school. Students from diverse populations often do not have this exposure, and the commission wants to change that. Commission members hope accounting professionals can start returning to high schools again, change the level of awareness and increase the diversity of the pipeline.

As leaders in the accounting profession move from inspiration to implementation when it comes to DCI, Cooke and Ellison-Taylor say that in addition to focusing on the pipeline, members of the profession should work to the challenges of retention and advancement as follows:

• Understand the business case for diversity and inclusion. Numerous studies have established the effectiveness of diverse teams in the business environment; Organizations of various ethnicities and genders work much better. Understanding this and confirming your commitment to advancing DCI across the organization is the first step towards meaningful change. Ellison-Taylor presents a conference session on this important issue at AICPA AND CIMA COMMIT 2021 in July.
• Advancing women in the workplace. Today, women have more opportunities to access managerial positions in the profession, but their number is still far behind that of men. Women of color are even further behind. In addition, the effects of the pandemic are jeopardizing the progress made by creating additional barriers that affect women. Leaders need to feel empowered to think differently about how to support and promote women so that the profession can continue to advance towards gender equality.
• Establish accountability. Putting measures in place and holding people accountable for those measures is one way to ensure that progress is made.
• Involve the staff. While it is the responsibility of top leaders and managers to set the tone and lead by example, all employees must understand DCI’s business case and embrace inclusion in everything they do. Members of your staff who are passionate about diversity and inclusion can also have a powerful impact on their peers.
• Hire an expert. For large businesses and corporations, an advocate for diversity, equity and inclusion in a role similar to that Cooke plays for the Association can advance these issues, as it is their job to make. If you can’t hire an expert, developing a DCI committee is also an effective strategy.
• Go where the talent is. When recruiting, employers who want to attract diverse talent to their organization may need to visit new places. Institutions serving minorities such as historically black colleges and universities are a great place to find emerging talent.
• Make DCI training consistent, ubiquitous and mandatory. Results will be poor if training is done only in February during Black History Month or on an optional basis.
• Be transparent. Employers need to assess themselves and share their DCI indicators. The numbers may not be favorable at first, but the transparency shows the importance of the problem. And it can help various job seekers understand that you have opportunities for them.

Progress on DEI measurements may take time, and Ellison-Taylor predicts that even with increased focus, it will be a few years before results are achieved. Cooke said employers need to figure out the most productive and important way to do it before they can even launch their initiatives to ensure the longevity of their efforts.

“The majority of people seem to know that a diverse and inclusive workforce is imperative, and people are trying to put more emphasis and focus on it, but they don’t want the efforts to be wasted. like they have done so many times before, ”she mentioned. “The people I talk to are very thoughtful in their approach, trying to put their ducks in a row and trying to figure out how to implement effective initiatives and deploy them in a way that brings about positive change.”

But there is no doubt that there is a new sense of focus and purpose around EDI that must be maintained for lasting change to occur.

“We just can’t lose our momentum,” Cooke said. “We have to keep the energy and focus.”

– Ken tysiac ([email protected]) is the JofAeditorial director of.