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Snapshot | January 2022

Thursday, January 27, 2022

Happy New Year. In our 2022 newsletters, we look forward to continuing to share important insights with you on key topics impacting the profession, from policy developments to technology to ESG.

But in this Snapshot, we’re spotlighting an announcement on a topic that is highly important to the profession: Diversity and Inclusion.

CAQ Launches DEI, Talent Pipeline Initiatives

The accounting profession will never waver in its commitment to always doing better.​ Pursuing greater diversity and inclusion is the right thing to do – it advances equity and opportunity, while recognizing each individual’s identity. It is also the smart thing to do – it helps the accounting profession better perform its public mission and, ultimately, improve audit quality.

This month, the CAQ announced the launch of Bold Ambition and Accounting+, initiatives to attract a diverse talent pipeline and bring awareness to the profession’s progress on diversity, equity, and inclusion. More on each:

  • Bold Ambition: With over $470 million and growing in public commitments previously announced, the accounting profession has made significant progress towards increasing diversity, equity and inclusion. Bold Ambition collects the work the profession has done – from research to best practices – and shares it with the public to increase transparency and create accountability.
  • Accounting+: Passionate about providing every student an opportunity to explore a future career in accounting, the CAQ launched Accounting+, a campaign to help students understand the benefits and possibilities of a career in accounting. Accounting+ offers resources for high school and college students from underrepresented minority groups, particularly Black and Hispanic students, to discover the potential for a career in accounting that matches their own passion and goals.

In addition to the launch of these programs, the CAQ also released a research report, Increasing Diversity in the Accounting Profession Pipeline: Challenges and Opportunities, on student attitudes and perceptions of accounting. A few highlights:

  • The market research found substantial openness to accounting as a profession, with 52% of Black and 48% of Hispanic students expressing an interest in accounting as a major.
  • For Black and Hispanic students, a personal connection to an accountant can be highly influential. 73% of accounting majors/minors surveyed knew an accountant personally.
  • Students rely on social media to find information about careers. 58% of Black students and 55% of Hispanic students use YouTube, as well as other social platforms like Instagram.

We look forward to continuing to share updates on these initiatives. In the meantime, we’ll see you in February.

 

Coverage of Bold Ambition