by Dan Perkins

African Americans have enjoyed success in many career fields since the Civil Rights Movement; however, the picture of inclusion in the professional services arena is not as bright as one might hope.  Since the launch of this publication, we have devoted considerable coverage to issues of diversity in the advertising industry.  Last summer, we reported that the Human Rights Commission of New York City subpoenaed major agencies in that city to appear and explain the lack of progress in hiring and promoting African Americans.  The Commission also demanded that the agencies present plans to correct the situation.

While advertising may represent an extreme case, public accounting is another profession in which African Americans are not well represented.  According to the most recent report issued by the American Institute of Certified Public Accountants (AICPA), only seven percent of all new accounting graduates are African American.  The presence of African Americans is even lower in the industry.  Only two percent of all certified public accountants (CPAs) are black or African-American; and one percent of all accounting firm partners or owners are black or African American.

One of the critical factors for advancement in the accounting profession is passing the CPA exam.  In today’s highly regulated business environment, many companies require candidates for senior positions, such as CFO or CEO, to have CPA certification.

The rewards of passing the exam include greater prospects for advancement and higher compensation.  Analysis of 2007 salary data by Becker CPA Review reveals that accountants who passed the CPA examination earn 10 percent more than accountants who have not. Without a CPA, African American accountants face fewer career advancement opportunities and less earning power.

Despite the small numbers of African Americans in the profession, and the challenges of satisfying the CPA requirement, there is some good news to report.  Leading firms, such as Ernst & Young, are taking steps to help African Americans enter and advance in the profession. Ernst & Young has several initiatives that expose minority and economically-challenged high school students to opportunities in accounting, taxation, and advisory services.

Ernst & Young is also a key participant in a pioneering initiative called the Leadership Skills Development Conference, which is designed for newly hired African Americans.  The conference is conducted in collaboration with Howard University School of Business Center for Accounting Education and supported by the Big Four accounting firms.  The goal of the conference is to increase the numbers of African-Americans that pass the CPA exam and succeed in the profession.

This year, the conference was held for the third consecutive year in Dulles, Virginia, from June 24-29. The National Association of Black Accountants (NABA), the leading association for African Americans in accounting, held a forum at this year's conference to address many of the challenges facing African Americans taking the CPA exam.

The Leadership Skills Development Conference is the brain-child of Frank Ross, a retired, 38-year veteran of KMPG who started the initiative in 2005 to help young African Americans gain access to the tools needed to succeed in the profession.  The conference consisted of a series of seminars and workshops designed to increase job retention, satisfaction and performance over the long-term for its participants.

diversityinbusiness.com welcomed the opportunity to speak with Ross, as well as Sam Johnson, a conference session leader who is a managing partner at Ernst & Young.  Click the graphics below to read highlights from the two interviews.