By Derrick Lilly

Acknowledging that a lack of diversity, equity, and inclusion (DEI) has been a long-standing issue in the accounting profession, the Illinois CPA Society (ICPAS) and its charitable partner, the CPA Endowment Fund of Illinois (CPAEFI), set out to research what minorities are encountering when entering and advancing in the profession. The findings of the research are in the award-winning 2022 Insight Special Feature, A CPA Diversity Report: Uncovering the Barriers to Success.

The research focuses on the firsthand experiences of alumni of the Mary T. Washington Wylie Internship Preparation Program (MTWW IPP). This program, entering its 12th year, was designed to prepare qualifying black and other racial and ethnic minority college students for success in securing their first accounting internships and/or full-time positions and ultimately pursuing the CPA credential.

“The goal of our research was to learn more about what they’ve experienced since transitioning into the workplace to help identify opportunities to better foster their success,” says Kari L. Natale, CAE, vice president of the CPAEFI, who led the research. “While our findings aren’t necessarily reflective of all diverse individuals’ experiences, or even those of all MTWW IPP alumni, the research did uncover and bring to light some common challenges that we need to discuss if we want to ensure everyone has a fair chance at success in this profession.”

A combination of survey data and personal interviews with the MTWW IPP alumni community revealed three key themes—primarily coming to light during the new-hire and entry-level experience—that could be contributing to the persistent disparity in minority representation and advancement in the accounting profession.

They See the Profession’s Lack of DEI as a Barrier

The feedback, “Environment Not Diverse,” which referred to diverse representation among leadership and peers alike, was the most prevalent barrier to success cited by MTWW IPP alumni (58%). This was followed by “Environment Not Inclusive” (36%). Further, about 18% of the survey respondents also cited “Discrimination/Microaggressions” and “General Lack of Equity Compared to Other Entry-Level Professionals” as prevalent barriers.

They Feel Handicapped by Their Backgrounds

About 49% of the MTWW IPP alumni indicated that “Past Experiences Did Not Adequately Prepare You or Somewhat Adequately Prepared You for Working in a Professional Environment.” What’s more, 48% revealed that their “Education Did Not Adequately Prepare You or Somewhat Adequately Prepared You for Your Work.” And almost half of the survey respondents attribute not feeling prepared for success in their jobs when they first entered the profession to these knowledge and experience gaps.

They Believe They’re Receiving Inadequate Feedback and Development

Nearly 31% of MTWW IPP alumni cited “Mentorship Opportunities Not Available or Inadequate for Your Professional Needs” as a barrier—making it the third most cited challenge faced. This was followed by “Lack of Timely, Relevant, or Direct Feedback on Performance” being cited by nearly 24% of survey respondents. “On-the-Job Training Opportunities Not Provided or Inadequate for Your Professional Needs” was also a prevalent critique.

The ICPAS offers this report—along with its unique, eye-opening, and sometimes troubling stories—to inspire those in positions to make change to help install meaningful DEI initiatives across the accounting profession. The insight gained from this research can help facilitate open, honest conversations about how the profession can achieve true diversity, equity, and inclusion.

Since being released, the report has received three distinguished publication awards. Trade, Association, and Business Publications International (TABPI) recognized the publication twice in its 20th annual editorial and design awards program, the Tabbie Awards. TABPI honored the report with the Bronze Award for Diversity & Inclusion Journalism and gave it an Honorable Mention in the Special Issue category. The judges described the publication as “an illuminating grouping of stories that dives deep into the topic of diversity, equity, and inclusion. Often viewed as controversial within the CPA profession, DEI is fearlessly examined through compelling interviews and survey data.” In July, “A CPA Diversity Report: Uncovering the Barriers to Success” was also recognized in Graphic Design USA’s (GDUSA) 60th anniversary Inhouse Design Awards. The publication was named a winner of a 2023 American Inhouse Design Award in the DEI Communications category. GDUSA’s competition is a premier showcase for in-house design excellence at corporations, non-profits, and institutions.

A CPA Diversity Report: Uncovering the Barriers to Success is available in PDF and digital formats, and print editions are available from the ICPAS upon request.

Derrick Lilly is an award-winning journalist, copywriter, and editor who serves as the Illinois CPA Society’s assistant director of communications and publications and editor-in-chief of Insight Magazine.

Founded in 1903, the Illinois CPA Society is one of the largest state CPA societies in the United States. Its mission is dedicated to enhancing the value of the CPA profession through the strategic initiatives of advocacy, information, education, and connections. The CPA Endowment Fund of Illinois is a 501(c)(3) charitable organization founded in 1998 by Illinois CPA Society members to ensure ongoing funding for scholarship and outreach programs geared toward encouraging individuals to choose accounting as a career and achieve the CPA credential.  

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Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of the PICPA's officers or members. The information contained herein does not constitute accounting, legal, or professional advice. For actionable advice, you must engage or consult with a qualified professional.