Key Highlights
- Women make up approximately 50% of accounting professionals globally
- Only 20% of CFOs in the accounting industry are women
- Minority representation in accounting firms stands at around 27%
- 78% of accounting firms have diversity and inclusion initiatives
- Nearly 60% of accounting professionals believe diversity improves decision-making
- 45% of new entrants into the accounting industry are from diverse backgrounds
- 35% of accounting firms have dedicated diversity officers or committees
- Employees from underrepresented groups report higher job satisfaction in inclusive workplaces
- 65% of accounting firms have implemented unconscious bias training programs
- The percentage of African American CPAs is approximately 4.6%
- Hispanic/Latino representation among CPAs is about 7%
- 67% of young accounting professionals believe that diversity and inclusion are critical to their firms' success
- The average age of accounting professionals is increasing, with diversity efforts aiming to attract younger, diverse entrants
Despite notable strides in diversity, equity, and inclusion, the accounting industry still faces significant challenges and disparities, with women, minorities, and LGBTQ+ professionals underrepresented and often experiencing bias, highlighting a critical need for ongoing efforts to foster truly inclusive workplaces that drive innovation and success.
Demographics and Career Progression Trends
- Women make up approximately 50% of accounting professionals globally
- The average age of accounting professionals is increasing, with diversity efforts aiming to attract younger, diverse entrants
- Women earn about 85% of what men earn in the accounting industry
- Minority individuals are 1.8 times more likely to leave accounting jobs within the first three years, indicating retention challenges
- Female representation among newly licensed CPAs is about 47%, indicating growth in gender parity
- The representation of women in core accounting roles (e.g., auditors, controllers) is approximately 52%
Demographics and Career Progression Trends Interpretation
Diversity and Inclusion Initiatives and Policies
- 78% of accounting firms have diversity and inclusion initiatives
- Nearly 60% of accounting professionals believe diversity improves decision-making
- 35% of accounting firms have dedicated diversity officers or committees
- 65% of accounting firms have implemented unconscious bias training programs
- 50% of accounting firms have mentorship programs to support diverse talent
- Nearly 70% of accounting firms see increased productivity as a benefit of diversity
- Companies with higher diversity scores are 35% more likely to outperform their competitors financially
- 83% of accounting firms say that diversity and inclusion are a top priority for their strategic planning
- The number of accounting firms with formal diversity and inclusion policies has increased by 50% over the past five years
- About 60% of accounting firms plan to expand their diversity initiatives in the next two years
- 52% of accounting firms have integrated diversity, equity, and inclusion metrics into their performance evaluations
- The percentage of accounting firms reporting progress in diversity and inclusion initiatives has doubled over the last four years, from 25% to 50%
- 80% of accounting students from minority backgrounds believe mentorship is crucial for career advancement
- Approximately 18% of accounting firms have specific initiatives targeting racial and ethnic minorities
- Only 15% of accounting firms have comprehensive diversity and inclusion policies that cover all aspects of equity
- 40% of accounting professionals report that their firms lack adequate diversity and inclusion training
- The percentage of firms actively recruiting diverse candidates increased from 30% to 55% over five years
- 50% of accounting firms have increased their outreach to diverse communities to attract talent
- Over 40% of accounting firms have incorporated diversity metrics in their annual reporting
Diversity and Inclusion Initiatives and Policies Interpretation
Representation of Underrepresented Groups
- Only 20% of CFOs in the accounting industry are women
- Minority representation in accounting firms stands at around 27%
- 45% of new entrants into the accounting industry are from diverse backgrounds
- The percentage of African American CPAs is approximately 4.6%
- Hispanic/Latino representation among CPAs is about 7%
- The number of LGBTQ+ accounting professionals is estimated to be under 10%, due to underreporting and disclosure concerns
- 15% of firms have achieved gender parity within their leadership teams
- 80% of accounting students from minority backgrounds report a lack of role models in the industry
- The representation of women in senior leadership roles in accounting has increased by 15% over the last decade
- Only 12% of accounting executives are from minority groups
- There is a 22% gap in pay equity between minority and non-minority accountants
- Only 23% of leadership roles in accounting are held by women
- 44% of accounting students cite a lack of diversity as a barrier to entering the industry
- Less than 10% of accounting professionals identify as LGBTQ+, highlighting the need for more inclusive environments
- The percentage of minority partners in accounting firms is around 9%
- Entry-level hiring in accounting has seen a 25% increase in diversity recruitment over the past three years
- The number of women in executive leadership roles within the accounting industry has increased by 12% over five years
- The global accounting industry has a diversity index score of 56 out of 100, indicating room for improvement
- Less than 20% of CPA firm partners are from minority backgrounds, indicating significant room for growth in minority leadership
Representation of Underrepresented Groups Interpretation
Workplace Culture and Employee Well-being
- Employees from underrepresented groups report higher job satisfaction in inclusive workplaces
- 67% of young accounting professionals believe that diversity and inclusion are critical to their firms' success
- 29% of accounting professionals report experiencing racial or ethnic bias at work
- The percentage of accounting firms implementing flexible work arrangements has increased by 40% over the past five years
- 40% of accounting firms include mental health support as part of their diversity initiatives
- Over 50% of underrepresented groups in accounting report experiencing microaggressions at work
- 36% of accounting professionals are interested in diversity and inclusion training opportunities
- The retention rate of diverse employees in accounting firms is approximately 74%, lower than the overall industry average of 85%
- 70% of firms that have implemented diversity training report positive impacts on workplace culture
- 35% of employees from minority backgrounds report experiencing workplace microaggressions
- 80% of younger accounting professionals prioritize corporate social responsibility and diversity efforts when choosing employers
- Corporate policies supporting family and work-life balance are positively correlated with higher diversity retention
Workplace Culture and Employee Well-being Interpretation
Sources & References
- Reference 1ACCOUNTINGTODAYResearch Publication(2024)Visit source
- Reference 2CGMAResearch Publication(2024)Visit source
- Reference 3AICPAResearch Publication(2024)Visit source
- Reference 4INSIDEACCOUNTINGResearch Publication(2024)Visit source
- Reference 5FORBESResearch Publication(2024)Visit source
- Reference 6ACCOUNTINGWEBResearch Publication(2024)Visit source
- Reference 7INSIDEHIGHEREDResearch Publication(2024)Visit source
- Reference 8OUTANDINCLUSIVEResearch Publication(2024)Visit source
- Reference 9MCKINSEYResearch Publication(2024)Visit source
- Reference 10WORLDBANKResearch Publication(2024)Visit source