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Tax Talent & Culture

Podcast: Defining the role of “equity” in increasing diversity within the accounting profession

Natalie Runyon  Director / ESG content & Advisory Services / Thomson Reuters Institute

· 5 minute read

Natalie Runyon  Director / ESG content & Advisory Services / Thomson Reuters Institute

· 5 minute read

In a new podcast, we examine how the concept of "equity" as become so central to increasing diversity in the accounting profession

What are the key differences between equality and equity? And why has “equity” — which addresses how people from underrepresented groups are disadvantaged based on systemic practices — become a primary factor to consider for professions that want to shrink the diversity gap in their senior ranks.

In our latest podcast, available on the Thomson Reuters Institute Market Insights channel, Natalie Runyon speaks with Loreal Jiles from the Institute of Management Accountants, and Brad Monterio from the California Society of CPAs, about their collaboration on groundbreaking research in the area of diversity, equity & inclusion (DEI) within the accounting profession.

You can listen to the full podcast with Loreal Jiles and Brad Monterio here.

The research that Jiles and Monteiro conducted focuses on the gaps among the senior leadership ranks within the accounting profession, which are quite significant. In our podcast, we dive into the reasons these gaps exist and why there is a loss of talent among the profession as people leave organizations and ultimately the profession altogether because of inequity and exclusion.

And because June is Pride Month, we also discuss the impact that the lack of LGBTQIA representation in the profession has wrought, and some interesting findings from their research, including that 20% of accountants identifying as LGBTQIA have left the profession all together.

Indeed, the research found that 60% of LGBTQIA accountants participating in the research indicated that “leaders demonstrate[d] unfair prejudice or bias against persons who identify as LGBTQIA.” Add to that the fact that LGBTQIA accountants are not able to embrace their authentic selves in the office and lack role models in senior leadership, the reasons behind this stunning attrition become clear.

Episode transcript. 

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