Accounting Resources for People of Color

In the United States, people of color have historically been excluded from the accounting profession. When the National Association of Black Accountants (NABA) was formed in 1969, only 136 of the country's 100,000 certified public accountants (CPAs) were Black. Members of other communities of color, including Hispanic and Latino/a Americans, Indigenous Americans, and Asian Americans and Pacific Islanders (AAPIs), have also faced systemic barriers to entering this field. Negative stereotypes, conscious and unconscious biases among employers and established professionals, and discriminatory training and hiring practices all played major roles in creating a disadvantaged landscape for aspiring accountants of color.

Another impactful turning point came in 1969 when President Richard Nixon's administration launched the Office of Minority Business Enterprise (OMBE). Professionals of color drew on OMBE grant funding to accelerate their communities' economic development, creating new paths for people of color to enter and advance in accounting and many other business disciplines.

Through policy shifts like these, and as progressive social values gradually eroded exclusionary practices, accountants of color gained access to stable, well-paid career paths. Over time, this generated social and economic benefits for communities of color, including increased visibility in positions of leadership and improved integration into mainstream financial systems and other institutions that historically excluded people of color.

Today, major professional organizations, including the American Institute of Certified Public Accountants (AICPA), operate diversity, equity, and inclusion initiatives. AICPA analyzes demographic data in the accounting profession in its annual trends report, and its state-level affiliates also compile and report on both local and national diversity data.

AICPA's 2023 trends report indicates that white students continue to represent a majority of accounting degree completions — 57.7% in 2022. While Hispanic or Latino/a students and AAPI students made modest to significant gains between the 2012-2013 school year and the 2021-2022 school year, degree completion rates among Black accounting students remained stunted during that same period. Native Americans or Alaska Natives represented only 0.4% of 2022 degree completions.

In a 2023 report, the Massachusetts Society of CPAs noted that the underrepresentation of racial minorities persists at the profession's highest levels. The report analyzed data from more than 70 sources, finding that accountants of color represent only 18% of partners in accounting firms despite making up nearly 40% of accounting graduates.

As well as making accounting degrees more inviting to people of color, employers, nonprofit groups, and professional organizations have a central role to play in bridging diversity gaps in the accounting profession. Implicit bias training and diversity-focused hiring initiatives can also help. After earning their degrees, professionals of color should be able to continue to draw on resources for minority accountants to help advance their career goals. This guide introduces available options for potential students considering the accounting field, students currently in accounting programs, and professionals of color seeking to advance in the field or pursue a graduate degree.

Accounting Organizations That Support Diversity

Accountants from underrepresented racial groups still face obstacles as they pursue their professional goals. Historians have traced a clear preference for white people in the U.S. social mainstream, which persists today alongside a pronounced racial wealth gap. Potential solutions include increased investment in communities of color, mentorship programs for professionals of color, additional networking opportunities, and greater visibility in the accounting field.

Accounting organizations that support diversity can provide some of these crucial solutions. Larger organizations often feature diversity and inclusion initiatives, committees, and scholarships. Some accounting organizations center their missions on supporting employees of color and offer resources to both established accounting professionals and students from racialized backgrounds.

Through active participation in the professional associations listed below, aspiring and practicing accountants can take advantage of networking opportunities, conferences, continuing education, and programs that promote diversity and inclusion.

American Accounting Association

The AAA advances diversity in accounting through focused community outreach, research, faculty development, and infrastructure development programs. It also features a dedicated Diversity Section, a forum that operates alongside the AAA's Teaching, Learning, and Curriculum Section to work toward encouraging inclusivity in the accounting profession.

American Institute of Certified Public Accountants

The AICPA maintains a diversity, equity, and inclusion portal on its website and regularly reports on the state of diversity within the accounting profession. The organization's official position recognizes diversity as being "critical to the future" of accounting, and AICPA strongly advocates for the conscious construction of a more inclusive culture within the accounting profession.

The Institute of Internal Auditors

The IIA actively works to advance diversity through education and training programs, policy workshops, and other initiatives offered to internal audit professionals through its diversity and inclusion division. It also prioritizes the promotion of auditors of color and other underrepresented communities within its organizational ranks.

Institute of Management Accountants

IMA's diversity initiatives include employer-focused programs designed to increase awareness of and reduce implicit biases in hiring processes. IMA also offers a professional certification program in diversity, equity, and inclusion practices and provides organizations with free information on developing and implementing workplace diversity strategies.

International Federation of Accountants

IFAC has made diversity a key target of its efforts to support the growth of the accounting profession. The international professional organization regularly explores diversity topics in its EdExchange video series and operates globally focused programs with the goal of removing barriers to entry for accountants of color. IFAC runs similar programs for women and accounting professionals in the LGBTQIA+ communities.

Resources for Black Accountants

Black accountants continue to face significant barriers to entry and advancement in the profession. According to a 2021 AICPA report, Black students accounted for 7% of bachelor's and master's accounting degree completions in 2020 but made up only 2% of all CPAs working in accounting or finance capacities at registered firms that year.

Black accounting professionals seeking resources can turn to the dedicated organizations below.

• National Society of Black Certified Public Accountants: Billing itself as the "go-to resource for Black CPAs," the NSBCPA was established in 2020 and offers many forms of support to emerging and established Black accounting professionals. In addition to professional mentorship programs and educational resources for Black students working toward CPA licensure, the NSBCPA also operates a "Find a Black CPA" feature to help employers improve their diversity profiles.
• Alliance of Black Women Accountants: Accounting has historically been a field dominated by men, which has created significant obstacles for women — especially women of color — who wish to enter the profession. ABWA works to change this through empowerment, mentorship, and professional development programs for Black women. The organization also offers members exclusive access to a job board with postings geared toward diverse candidates.
• National Association of Black Accountants: The National Association of Black Accountants, formally known as NABA, Inc., is a nonprofit organization for Black professionals working in accounting, finance, and entrepreneurship. With more than 10,000 members, NABA plays a leading role in connecting Black accounting professionals to opportunities through networking, mentorship, career development, and job boards.

Resources for Hispanic and Latino/a Accountants

Despite rising accounting degree completion rates from the 2012-2013 school year through the 2021-2022 school year, Hispanic and Latino/a accountants remain underrepresented in high-level accounting roles. According to the 2021 AICPA report, Hispanic and Latino/a accountants represented just 5% of CPAs working in accounting or finance roles at CPA firms in the U.S. in 2020.

Students, employers, and job-seekers looking to enter or advance in the accountancy field can find support through the below organizations.

• Association of Latino Professionals for America: Founded in 1972 by a group of 19 Latino CPAs, ALPFA supports the Hispanic and Latino/a professional communities with fellowships, scholarships, symposiums, summits, conventions, and networking events. ALPFA operates 41 chapters in major cities throughout the United States and Canada, creating a strong network of locally available resources across North America.
• Hispanic Scholarship Fund: Established in 1975, HSF has since provided more than $500 million in education funding to more than 65,000 Hispanic and Latino/a award recipients. Accounting students of Hispanic or Latino/a heritage can connect with valuable opportunities through the organization, which receives support from many corporate donors, including some of the world's largest companies.
• United States Hispanic Chamber of Commerce: Founded in 1979, the USHCC expands its focus on Hispanic-owned businesses to include support and advocacy for Hispanic and Latino/a professionals in various business disciplines. The USHCC hosts conferences, operates networking events, helps Hispanic- and Latino/a-owned businesses connect with one another, and provides a job bank with a job-matching platform.

Resources for Asian American and Pacific Islander Accountants

Relative to other racial minority groups, AAPI professionals are well represented in the accounting profession. However, major gaps persist: Asian women are underrepresented in C-suite corporate roles, and AAPI accountants widely reported being targeted by acts of intimidation and violence during the COVID-19 pandemic.

The organizations below work to advance the standing of AAPI professionals in accounting and related business disciplines.

• Ascend Global Leaders: Ascend provides career development and support resources to members of the Pan-Asian community in the U.S. and Canada, including leadership programs, networking events, and mentorship opportunities. The volunteer-run organization is led by business professionals, including Fortune 500 company executives.
• Asian Pacific CPA Association: Through mentorship, business development, and networking programs, APCPAA maintains a high-profile position in the AAPI accounting community. The organization also offers continuing education and professional development programs to CPAs as well as AAPI accounting and finance professionals in non-CPA roles.
• Chinese American Society of CPAs: Founded in 1985 to advance the standing of Chinese American CPAs in the eastern United States, CASCPA now operates with a national scope. It welcomes professionals from accounting, law, and banking backgrounds, as well as IRS enrolled agents of Chinese American heritage seeking to connect with other community members.

Resources for Indigenous Accountants

Indigenous Americans are the single most underrepresented racial group in the accounting profession. According to the 2021 AICPA report, Native Americans and Alaska Natives make up just 0.2% of all certified public accountants working in finance or accounting roles at CPA firms in the U.S.

The organizations below are working to help advance the standing and visibility of Indigenous peoples in accounting.

• The National Center for American Indian Enterprise Development: Founded and operated by Indigenous Americans, the NCAIED is a nonprofit group that assists Indigenous professionals with economic and business development through management consulting services and trainings. The NCAIED also maintains healthy relationships with Indigenous American-owned businesses and professional organizations and has grown into the largest Indigenous business development organization in the United States.
• Native American Business Association: NABA focuses heavily on diversity and inclusion programs, seeking to connect Indigenous American entrepreneurs and business professionals with career and economic development opportunities. In addition to advocacy and community outreach initiatives, NABA offers training workshops, networking events, and other career-focused resources.
• Native American Finance Officers Association: Uniquely focused on tribal finance, NAFOA works to advance the financial interests of independent Indigenous governance groups throughout the United States. NAFOA operates intensive financial management education programs, which may interest Indigenous American accounting professionals seeking employment opportunities with tribal governments.

Scholarships for Aspiring Accountants of Color

Higher education requires a significant financial investment, but scholarships provide excellent opportunities for students to fund their college studies. Learners can find scholarships through local organizations, government offices, or professional associations, and some scholarships exist particularly for students from historically excluded groups.

To research applicable scholarships, readers can explore the information presented in the link below.

Professional Spotlights

Ronnie Goode

Why did you decide to become an accountant?

I decided to become an accountant in college after having countless discussions with my professor. I was initially undecided [about] my career path but was later sold on the benefits of a career in accounting.

What was the deciding factor in selecting your specific program and school?

My decision to attend the undergraduate and graduate programs that I chose were mainly influenced by affordability. Receiving a scholarship in music for my undergraduate program and an academic scholarship for my graduate program made my school choices clear.

Did your school's approach to diversity have any bearing on your decision?

My school's approach to diversity had a huge bearing on my decision. My undergraduate school was a historically Black college and university (HBCU), and the culture at the school was a huge selling point for me. As for my graduate program, diversity did not have any bearing on my decision.

Were there any challenges you faced during your accounting education as a result of your race?

Due to the fact that I attended an HBCU for my accounting degree, there were no challenges that I faced due to race. On the other hand, I did face challenges in graduate school that involved overcoming assumptions and stereotypes about me due to my race.

Were there any available resources for racially underrepresented students in your program — whether accounting-focused or general — that you found helpful? What about general educational resources?

There were general resources available to minority students at my graduate school that were helpful to me. The most helpful resource was having a network of minority professors, staff, and students that supported me in dealing with race-related challenges.

Any CPA exam tips you'd like to share?

As an overall tip, I would say that you should view the CPA exam as a marathon. The sheer volume of information may initially seem overwhelming, but if you break it into smaller, more manageable pieces, you will eventually get through it. Aside from the actual exam content, your level of discipline and ability to manage your time and schedule is extremely important in being successful. I would also add to do your due diligence in choosing the most effective exam preparation course, and be persistent in the pursuit of your goal.

What was your job search like?

My job search as an accountant has always been successful and offered many opportunities in the field. I received my first job offer in the accounting field while interning at a public accounting firm. I received that internship while in college by utilizing the career services department. I would highly recommend that students take advantage of those career resources in college. Companies target and recruit students who are majoring in accounting.

Have you encountered any race-related hurdles during your career as an accountant? How did you overcome them?

I've encountered a number of race-related hurdles during my career as an accountant. Most of the hurdles I've encountered came from working in corporate America. Working in an environment where there are not many people that represent your culture can be challenging if the environment doesn't promote diversity and inclusion. I overcame some of those hurdles by building and strengthening relationships with individuals that had similar experiences and were successful in conquering those challenges.

Are you a member of any professional organizations? What do you find most valuable about them?

I'm currently a member of NABA. I find this organization to be valuable because it connects you with other accountants across the world. This allows you to network, receive training, [and] share knowledge and experiences about working at different companies.

What advice would you give to students of color considering pursuing a career in accounting?

I would recommend students of color to pursue a career in accounting as it can be very rewarding and provide job security. I would tell any student to approach an accounting career with an open mind because there are many career paths within the industry.

Ronnie Goode

Ronnie Goode is a CPA licensed in the state of Virginia. He currently works as a systems accountant with the Defense Logistics Agency, where he provides internal audit services. He also owns and operates an accounting business, where he provides accounting, tax, and consulting services to entrepreneurs and small business owners.

Ronnie began his accounting career at PricewaterhouseCoopers, a public accounting firm, where he spent five years providing audit and accounting advisory services. He ultimately left public accounting to work in corporate America at Altria Group, where he served as a financial analyst and an accountant for five years.

Ronnie attended Shaw University, where he received his undergraduate accounting degree on a music scholarship. He also attended Southern Illinois University Carbondale, where he received an MBA on an academic scholarship. Ronnie believes the key to success is building strong relationships. When he's not working on his side business, he enjoys playing sports, listening to music, traveling, and hiking.

Dr. Maria Sanchez

Why did you decide to pursue accounting?

I decided to pursue accounting because it is the language of business. With an accounting background, you can go anywhere. The professional opportunities available to accountants are limitless.

What was the deciding factor in selecting your specific program and school for your education? Why did you choose to teach at your current university?

For my undergraduate education, I chose a program that would position me for a job at a Big Four accounting firm. I knew that I wanted to go into audit and earn my CPA credential. However, I knew that after a few years of professional experience, I eventually wanted to pursue a career as a professor of accountancy.

It was an easy decision to accept a position at Rider University. Rider's focus on students is exactly the type of university that I was looking for. In my role as an accounting professor at Rider, I get to help students prepare for their careers and for the CPA exam. In addition, our master of accountancy program is ideal to help experienced professionals change career paths or prepare for the CPA exam. The best part of the job is seeing my students succeed.

Were there any available resources for underrepresented students in your program that you found helpful? What about resources for your current students?

At Rider, we have a program called the Aspiring Accounting Professional Program, which combines tutoring and practical experience through an informal professional mentorship specifically to help underrepresented minority groups in the accounting field. This innovative program was created by Dr. Evelyn McDowell, chair of the accounting department at Rider, and Allen Boston, an executive advisory committee member and retired Ernst & Young partner.

Any CPA exam tips you'd like to share?

Don't wait to start studying! With the new continuous testing model, there is no excuse. Take one part of the exam as soon as you are eligible to sit. Then take the next and so on.

Are you a member of any professional organizations? What do you find most valuable about them?

I am a member of the AICPA, the American Accounting Association, and the Association of Certified Fraud Examiners. The field of accounting is constantly changing. These organizations help keep me up-to-date with what is happening in the profession.

What advice would you give to students of color considering pursuing a career in accounting?

Build your professional network. Attend networking events — your university probably has several networking opportunities during a normal semester. You never know when one of these contacts will lead to a professional opportunity. Find a mentor to help guide you. Having someone you trust to help you navigate the professional workplace can help you advance in your career.

Dr. Maria Sanchez

Dr. Maria Sanchez is a professor of accounting at Rider University.

Casey Watson

Why did you decide to become an accountant?

When I was in 10th grade, I was registering for classes in Florida. One of the electives I chose was to take an accounting class because I liked math and thought it would be a class I would enjoy. Also, I knew I wanted to live in other countries throughout my life and quickly realized that you can get a job anywhere in the world with an accounting degree.

What was the deciding factor in selecting your specific program and school?

As stated above, I wanted to have a career that would enable me to live in other countries, and I knew that almost all universities offered accounting programs in their business schools. When I was searching for universities to attend with a specialization in accounting, I quickly learned that in 1992, students from the University of Central Florida had more CPA candidates sit and pass the exam on the first try than any other university in the country. (Back in the 1990s, you were required to sit for all four sections of the CPA exam at any given attempt to pass.)

Did your school's approach to diversity have any bearing on your decision?

In the early '90s, this was not a consideration when I was selecting a university.

Were there any challenges you faced during your accounting education as a result of your race?

Being an Asian American, I faced certain stereotypes related to my race that included me studying all the time in the library. Also, sometimes other classmates would ask me to tutor them on subject matters that we were both learning at the same [time]. (They assumed I would understand the content much faster than them and could explain it to them.) One of my more infuriating experiences was when I had to defend my last name. I was adopted by a [white family] and have an Americanized name. My tax professor insisted that my last name was "Wong" and not "Watson." We had this discussion in front of the entire class, which was humiliating.

Were there any available resources for underrepresented students in your program — whether accounting-focused or general — that you found helpful? What about general educational resources?

I am not aware of any resources available for minority students in my program at the time.

Any CPA exam tips you'd like to share?

I would recommend taking the Becker CPA prep class … and getting your employer to compensate you for it! Study every day, and complete all of the homework for each unit (if you take the Becker class). Also, I would take the shortest section — business environment and concepts — of the exam first and the longest section — financial reporting — last.

What was your job search like?

Shortly after I graduated in 1997, I packed all of my belongings and my dog and moved to Redmond, Washington. I found an apartment and then began to search for a job. I searched newspaper ads for job listings in accounting and mailed off as many resumes as possible. I faxed my resume to a few companies as well. (I had an email account issued from my university, but I did not know how to use it, which is why I never emailed about job listings.) I secured a job within three weeks of moving to Redmond.

Have you encountered any race-related hurdles during your career as an accountant? How did you overcome them?

I have had my share of insulting comments said to me. For instance, at one CPA firm I worked at in 2000, a colleague continued to tell me that I spoke English "good." I corrected her and said, "I speak English 'well,'" and repeatedly told her that English was my first language. Another colleague in the same firm one time said to me, "I ate Chinese food last night, and I thought about you." So I told her that I ate a bunch of junk at McDonald's the same night, and I thought of her. She didn't quite understand why I said that. Also, I am not Chinese.

Another colleague asked me to help her rearrange her heavy oak office furniture to make her office more "feng shui" appealing. Again, I am not Chinese. Fortunately, with regard to not getting promoted or selected for certain projects with high exposure to clients, I have not experienced this living in the D.C. metro area, which is a minority-majority area.

Are you a member of any professional organizations? What do you find most valuable about them?

I am a member of the AICPA. They have great resources for CPAs about specific industries and lines of service, such as forensics and nonprofit organizations, that help you stay abreast of the latest information impacting each industry.

What advice would you give to students of color considering pursuing a career in accounting?

I would join an organization that supports your professional career from a minority perspective, such as ALPFA, NABA, and Ascend Global Leaders. These organizations provide a variety of resources and support around the country for minority accounting professionals.

Also, I would recommend seeking a mentor that you align with and being proactive in meeting with [them] on a regular basis to seek information and/or assistance with any issues you may have. Further, I would become as active as possible within your company's own alliance teams, if applicable, and have an active role within these teams. (All of the Big Four accounting firms have these types of alliance teams.)

Last but not least, seek a paid internship with a few Big Four accounting firms to get a feel for the culture of each firm. The work is similar and will translate easily to each firm, but the corporate culture is what will impact your decision — and theirs — when deciding upon a firm. I worked at two of the four Big Four accounting firms, and while the work I performed at each was slightly different, the corporate cultures were drastically different.

Casey Watson

Casey Watson has over 20 years of experience in various accounting fields, including internal and external audit, individual and corporate taxes, corporate and forensic accounting, and federal practice and risk and compliance. She has worked for two of the Big Four CPA firms, for smaller CPA firms, and in industry.

The most memorable company she worked for was National Geographic, and her most impactful engagement was working on the Deepwater Horizon oil spill, processing insurance claims related to the BP oil spill in April 2010.

In her spare time, Casey enjoys international travel. She has traveled to 19 countries and lived in two foreign countries. She has played the drums for 36 years and loves salsa and belly dancing, along with rock climbing. She currently resides in the D.C. metro area and works for a national consulting company.