NABA INC.’s Post

NABA is committed to addressing the shrinking pipeline of Black talent, scaling our impact in 2024 and the importance of strategic collaboration in our work to engage, empower and educate Black Business Leaders. Read more in a recent article by the Indiana CPA Society: https://lnkd.in/gbyfupb9.

This is a great article that helps understand the gap that exists in the accounting industry. Great Job E. ZeNai Savage, CPA Aurmaudra Bradley, CPA and Guylaine Saint Juste!!

The data is clear: Black talent is making its mark on the economy, but there's still massive untapped potential. Getting Black students into college and skilled professions like #accounting, however, isn’t without roadblocks. That’s why NABA INC.'s work is perhaps more critical than ever. Here’s how they’re working on both a national and local level to “engage, empower and educate Black Business Leaders” in the face of growing talent shortages across sectors (featuring Guylaine Saint Juste, E. ZeNai Savage, CPA, and Aurmaudra Bradley, CPA). https://lnkd.in/gbyfupb9

In 1969, as the accounting profession grappled with a staggering lack of diversity, at a time when Black CPAs comprised less than 0.2% of the profession, Frank K. Ross embarked on a groundbreaking journey. Ross, alongside eight visionary colleagues, co-founded the National Association of Black Accountants (NABA), a pivotal step aimed at addressing the challenges faced by Black individuals within the accounting field. Fast forward more than half a century and the representation of Black CPAs has only marginally increased, to 2%, underscoring the enduring hurdles to inclusivity in the accounting profession. https://lnkd.in/eYaRH2pY

Happy Juneteenth! As we all celebrate this national holiday, I hope to use it as a time to reflect on its meaning, both for the African American community and for our entire nation, and reflect on both progress and hard truths. My takeaway? We have a long way to go. I have a long way to go. When considering the accounting profession where I’m most familiar, there’s a lot of progress to be made. Despite living in a large diverse city like Los Angeles, and even with the incredible work of organizations like NABA, my personal network of Black accountants and professionals is smaller than it should be. I hope to be mindful and correct this as I intentionally expand my network and grow our firm. This also comes at a time when the hot topic in our industry is a severe shortage of accountants in general. The debate on how to best solve it is nonstop, but it’s clear that change in the profession is needed. The optimist in me sees an opportunity. As we evolve the accounting profession to become more attractive, we can also take the right steps to better understand and remove barriers of entry for people of different racial and socioeconomic backgrounds. Building a more diverse group of accountants can help us effectively solve many of the issues plaguing our industry. I acknowledge I don’t have much room to talk here. But I hope it helps us to continue to find the right paths to a better future for all of us.

John Cromwell became the first black CPA in America by passing the exam in 1921 in New Hampshire, which was the only state to drop the experience requirement. All the other states had a work requirement, yet no CPA firm would hire a black accountant believing it would alienate their white clientele; a catch 22 for Cromwell. Perhaps that lingering bias is why only 2% of the CPAs today are black, compared to 4.5% of the attorneys & 5.7% of doctors. I wonder. Discrimination in the CPA profession is not just about black & white: at the BIG firms, 53% of CPAs are male while 47% are female, but 77% of partners are male versus 23% female, which is an obvious gender ceiling at the top. Typically, accountants aren’t the aggressive & outspoken type, & there’s never been a strike at a Big 4. After all, most billionaires didn’t come from a numbers background, certainly not Musk, Bezos or Zuckerburg; but GAAP accounting is the language of business & worth knowing… but then the 150hrs requirement is just another ceiling getting in the way. The AICPA didn’t help Cromwell and it won’t step in to remove the glass ceilings that seem to plague the profession. “The numbers don’t lie”, but partners refuse to use them to figure; ditto for the state boards. There’s a bias gap in GAAP.                 

Today marks 11 years since the State of Georgia granted me a CPA license. It’s been a journey of growth, challenges, and incredible achievements. The CPA license was first established in 1896, but it wasn’t until 1921 that John Cromwell Jr. became the first Black CPA when he was licensed in New Hampshire. The trailblazing continued in 1943 when Mary T. Washington Wylie became the first Black woman CPA when she was licensed in Illinois. Despite these historic milestones, we still face significant disparities. Over 100 years after the first Black CPA was licensed, only 2% of CPAs are Black, as noted in an AICPA report from 2021. This stark statistic underscores the urgent need for greater diversity and inclusion within our profession. As we celebrate these pioneers and acknowledge the progress made, let’s also commit to fostering an environment that supports and encourages more Black accountants to pursue and attain their CPA licenses. I’m proud of my journey and the path I’m paving for future generations. Here’s to continuing to break barriers and build a more inclusive future for the accounting profession. #BlackCPA #DiversityInAccounting #InclusionMatters #Trailblazers #Accounting #Finance #Leadership #BlackExcellence #Mentorship #Community

In our book review this month, we capture A LIFE OF PURPOSE - the biography of Wiseman Nkuhlu written by Wotshela Luvuyo. It is the remarkable story of South Africa's first black chartered accountant. https://lnkd.in/d-ybyS7S

Last night I had the chance to engage in a senior leaders panel with AICPA , The National Grid and BDO on how to build your commercial awareness. As a law student, I’ve noticed how naturally I connect legal concepts to their economic impacts, thanks to my background in A-Level economics. Understanding how laws shape market behavior and influence supply and demand, competition, and pricing is essential. For instance, I now see how regulations promoting fair competition help prevent monopolies and keep prices in check, benefiting consumers. This perspective allows me to appreciate how legal frameworks not only govern businesses but also drive economic outcomes. I’m excited to explore this interplay further as I continue my studies! I also had the chance to engage in a graduate panel featuring Amazon, Royal Air Force (RAF) Browne Jacobson and The Black Apprentice Network (BAN). One of the key takeaways is that recruiters aren’t just looking at your experience or skills. Having 500 connections or 50 work experiences is great, however, firms are looking for who doesn’t just fit but adds to their team, they are looking to invest in someone to work alongside. Your age or years of experience are only a part of your application but success comes when you genuinely connect with the company's mission. 🚀

Curious about the journey of diversity in accounting? The CPA Journal recently published this article to shed light on the pivotal role of Frank K. Ross and the founding of the National Association of Black Accountants (NABA) in 1969. Despite the strides made, Black CPAs today still represent just 2% of the profession. Discover the challenges and progress in the industry at https://lnkd.in/eipq8y82