Diversity Toolkit

More Clients, More Talent, More Revenue

The Business Case and Toolkit for Diversity in Accounting

People are your most valuable business resource.

Diversity presents a tremendous business opportunity, but the accounting profession is slow to act.
A 2015 McKinsey study reveals that “companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry means.” According to the AICPA, minorities represent only one in six of professional staff in accounting firms nationwide.

This paper is designed to help you overcome the challenges to diversity — both ideological and logistical — and inspire you to implement or refine your diversity strategy.

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Do not wait to embrace a culture of diversity.

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Presented by:
Pennsylvania CPA Foundation

Key Sources:

PICPA Members
The PICPA consulted partners, managers, staff accountants, and students from organizations across Pennsylvania. In Feb. 2015, the PICPA hosted a roundtable discussion with more than 20 partners from the Philadelphia area.

Highlights of the Business Case and Toolkit for Diversity in Accounting

orangegearsWhy Diversity Matters: The Business Case

Demographics are changing. The link between diversity and revenue is becoming clearer. Other industries have caught on. So should accounting. 

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Where We Are Now: The Diversity Landscape

The accounting profession is becoming less diverse, and the college pipeline doesn’t offer an easy solution. You’re legally obligated not to discriminate, but are you making a wholehearted effort to seek diversity? 

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plumgearsRace/Ethnicity in Pennsylvania Colleges and Universities

Even though attendees of Pennsylvania’s four-year colleges and universities are disproportionally of the majority, thousands of minorities do attend. If a quarter have given thought to business fields — the most popular areas of study according to the National Center for Education Statistics — a clear opportunity exists to attract minorities to accounting.

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How You Can Build Diversity in Your Organization: The Toolkit

As Jela Foote, director of advisory services at KPMG in Philadelphia, says, “It’s not how your organization looks, but how it feels.” Numbers should merely be the reflection of an organic strategy. All members of an organization benefit from diversity, and all members of an organization should be included in diversity efforts. 

This toolkit gives practical and tips and suggestions on the following:

  • Building a Diversity - Focused Culture
  • Implementing Your Diversity Strategy
    Includes examples of firm collateral
  • Supporting and Retaining New Hires
  • Filling the Talent Pool - Recruitment

CPAs on Diversity
Inspire Future CPAs in the Classroom

PICPA Real World Math middle school picture

Partner with a Middle School or High School

Meet with students, teach financial literacy concepts, and discuss careers in accounting. The PICPA has prepared presentations for speakers.

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