ACCA finds mixed views on diversity in the accounting profession

The Association of Chartered Certified Accountants released a survey Wednesday that found the majority of accountants internationally believe they are in an inclusive profession, but nearly two-thirds of them think the profession still has an issue to deal with when it comes to diversity.

The global survey of more than 10,000 ACCA members worldwide found that 73 percent of the accountants polled think they are in an inclusive profession, but 63 percent responded either yes or maybe when asked if they have an issue to deal with. Meanwhile 65 percent consider diversity to be a strong link to organizational success, but 54 percent of them don’t know what to do about diversity and inclusion, or are uncertain.

A report about the findings includes some recommendations about what accounting firms and accountants should be doing to foster greater diversity in the profession. Among them is to know the diversity goals of the organisation and how these align to the business goals, participate in surveys and discussions as honestly as possible, and actively engage by becoming a mentor and/or mentee.

“One thing that the pandemic has taught us is the need to reappraise our values and approaches,” said ACCA CEO Helen Brand in the report. “The rebuilding of our lives, our economies and our profession can, and should, be done in ways that challenge our accepted norms. We should pause to think how we can do better. This is an opportunity to reset that cannot be missed. Diversity and inclusion are collectively one key component of this; building towards a better world where all have the same range of opportunities available to them.”

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Globally, 41 percent of respondents said the organization where they work makes it easy for people from diverse backgrounds to be accepted. Just over half (52 percent) said everyone in their organization has an equal opportunity to succeed. Sixty-three percent of the survey respondents argued that ACCA should do more to promote the agenda.

“The foundation of ACCA in 1904 was to create a professional body for accountancy professionals that was open to all,” said Warner Johnston, head of ACCA USA, in a statement. “As an organization we recognize the work that still needs to be done in order for the accounting and finance profession to truly embody the values of diversity and inclusion, and we will continue to push for change in these areas in order to build a better and more equitable profession.”

The report concludes there is no basis for complacency, with 68 percent saying the profession should do more to promote diversity and inclusion amongst its membership.

“As accountancy and finance professionals, it’s important that we apply our robust and ethical lens to the challenges of the diversity agenda,” said Clive Webb, author of the report and senior insights manager at ACCA, in a statement. “By focusing on the symptoms of the issues rather than the causes we run the risk of not making substantive and lasting change when it is very necessary. Accountancy and finance professionals must be a force for good in the organizations that we work in and for."

The research for the report occurred last October, including 20 virtual roundtables spread across 11 regions, with the majority of survey respondents located across Western Europe, Africa, Asia-Pacific, and South Asia.