Accounting Firms Seek to Diversify Image
Wednesday, June 29, 2005
Nina Cordier recently joined the ranks of a very exclusive group: The 22-year-old graduate of Louisiana's Dillard University is an accountant at one of the Big Four firms, and she is black.
She is hoping to join an even more rarefied world by passing the certified public accountant's exam in coming years, making partner at Ernst & Young LLP, and succeeding in a profession that remains one of the least racially diverse in the nation.
"I don't think it is like it used to be," said Cordier, who pursued the profession even though many of her friends "didn't understand."
"I loved the debits and credits. I know it is weird," Cordier said.
For an industry focused on the veracity of numbers, one in particular has prompted a bit of soul-searching: Only 1 percent of CPAs in the United States are black, and the numbers for Hispanics and other minorities are similarly low.
Cordier and 119 other first-year accountants and auditors got a boost toward nudging that percentage upward this week during a six-day leadership program sponsored by Howard University's Center for Accounting Education.
The Big Four, as well as a few of the major black-owned accounting firms, are helping pay for the event at the Westfields Marriott Hotel and Conference Center in Chantilly. They also are providing speakers and mentors who offer tips on how to network, how to deal with bosses and career pitfalls, and, crucially, how to pass the CPA exam. Similar to the bar exam for lawyers, the CPA test qualifies people to, for example, perform certified audits.
Once again, numbers tell a disheartening story: Even though blacks constitute 12 percent of students enrolled in accounting courses, they make up only 8 percent of accounting graduates and only about 4 percent of those who sit for the CPA exam. According to the American Institute of Certified Public Accountants, the industry's leading professional organization, blacks constitute only 1 percent of their membership. Asians and Pacific Islanders make up 4 percent and Hispanics represent 2 percent.
The number has remained stagnant for almost a decade, while the representation of blacks in comparable professions such as law has inched slowly upward.
"If there's a little decline in law school graduates, a lot of people care about it," said Theresa A. Hammond, author of "A White-Collar Profession," a book that chronicles the stories of the first 100 black CPAs.
The accounting profession has been comparatively hands-off about the issue, until now. Seminar sponsors say that the diversity push isn't about quotas. A more heterogeneous workforce, they said, brings a deeper talent pool and a broader range of thoughts and perspectives.