Accounting Industry Fails to Inspire Black Accountants

Members of National Association of Black Accountants Cite Race and Employer Loyalty as Accounting Industry Shortcomings, Howard University Survey Shows

February 21 2006 - Why do so few African Americans succeed in the accounting profession? A preliminary analysis of results from a survey conducted among members of the National Association of Black Accountants shows that race continues to impact the careers of people of color in the accounting profession.

Key findings include:

• 59% of respondents believed that because of their race, they had not always received unbiased/objective evaluations from their supervisors.
• 55% felt that mistakes they might make in the workplace directly impacted on the perception/evaluation of other members of their race.
• Almost half believed that non-minority counterparts with less technical competence or experience are given more high profile/challenging job assignments
• 63% felt no obligation to remain with their current employer

The survey, "The Professional Experience--The NABA Survey," was conducted by Howard University's Center for Accounting Education (CAE) in December 2005. To date, 427 NABA members have responded:

• 42% work in public accounting
• 38% are employed by corporations
• 20% work in the government or nonprofit sectors.

"In spite of diversity programs initiated by many of the nation's top employers, there is still disparity amongst people of color in the accounting and finance areas with regard to their ability to advance with their employers," said Frank Ross, founding member and past NABA president and director of the CAE. "We hope to provide recommendations for making positive changes to lower attrition and improve advancement for the African-American accounting professional."

"It has been proven time and again that a diverse company is a stronger, better-performing company," Norman K. Jenkins, CPA, NABA National President, said. "The days when companies viewed diversity as a nice thing to do are over: Diversity in the workplace is a business imperative, and those employers who are successful in attracting and retaining diverse financial talent will have a desirable competitive edge."

"It is important to tap into our membership to assess their experiences," added Darryl R. Matthews, Sr., NABA's executive director and COO. "We are hopeful that the CAE's findings will lead to improved work environments so that people of color can blaze career paths with their employers."

A full assessment of the survey is expected in Spring 2006. NABA is committed to advancing the experiences and careers of people of color in accounting and finance. The Association will hold its Annual National Convention in Hollywood, Fla. from June 13-17, 2006, offering CPE technical sessions, executive and management leadership development programs, several certification exam reviews and the opportunity to network with top employers, among other career-focused activities.

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