As Tax Day quickly approaches, have you ever given any thought to who is preparing your return? What about who is helping a small business with bookkeeping? Or advising corporations on key financial decisions?
It's easy to see just how diverse the job of an accountant can be, but when it comes to the diversity of the people in the industry, many would say there needs to be some improvement.
According to 2021 data from the American Institute of Certified Public Accountants, just 2% of CPAs who had participated in their survey identified as Black - that's compared to 13.7% of the overall U.S. population that identifies as Black or African American, according to U.S. Census data.
Bob Elliott has owned his own accounting firm in Tucson for more than 40 years and wasn't surprised to hear the statistic from the AICPA; he has also noticed his field is lacking in diversity, and has also expressed concern about the number of people in general deciding to pursue the accounting field.
But for Elliott, who grew up loving keeping track of money, accounting, and helping people keep track of their finances, can be just as exciting as his time on the hardwood, playing basketball for his alma mater, the University of Arizona, in the 1970s.
"It's a rush," says Elliott. "No different than the rush you get playing ball!"
For Crystal Cooke, the deficit in diversity stems from many causes.
"It starts with a lack of awareness for the career," explains Cooke.
Cooke currently serves as the director of diversity and inclusion for the AICPA & CIMA, two professional accounting groups that work to advance causes in the field.
"Many of them don't have accountants in their family, they don't know an accountant, they're not exposed to it," she explains.
For Wilcox native and ASU Accounting student Ulises Izazaga, part of the issue is also not reaching students early enough.
"When I was in high school, I didn't even know what accounting was, honestly," explains Izazaga. He believes more outreach would also be beneficial to attract more Hispanics to the field as well.
"We don't have enough representation in the field. I feel that my people don't see that representation in the field, and they are discouraged, and they tend to go where there is more of us...As a Latino, we value familiarity."
Izazaga is also one of the first members of his family to graduate from high school. Thanks to a mentor he had in community college, he says he learned more about what was possible for him.
"It is possible, as much as life throws at you. Anything is possible if you really put your mind to it."
To read the AICPA & CIMA's 2023 trends report, click here.
