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How to Make the Accounting Profession More Diverse?

August 3, 2020 6:07 pm

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It is estimated that more and more numbers of ethnic minority students are now enrolling and graduating from universities. There are various reasons behind this surge in the number of students from ethnic minorities. The topmost being the attractive opportunities that the accounting profession offers to all backgrounds and groups of people. The accounting profession offers one of the best potentials for earning and is considered the best career option. Last but not least, accountants are always in high demand.

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Now, this can be a great opportunity for accountant firms to make the accounting profession more diverse. And there is a need for it also as the number of professionals from the ethnic minorities are increasing but their hiring is almost flat. For some experts, this is very concerning as the rate of unemployed accountants from minority backgrounds is increasing due to flat hiring. The situation in public accounting firms is grimmer in this regard. One reason for this flat hiring rate in public accounting firms may be due to the accountants belonging to minority groups are opting to go into private firms compared to public firms. For more information on Accountants Swindon, visit a site like https://chippendaleandclark.com/

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However, the higher availability of professional accountants from minority groups offers great opportunities for accountancy firms to make the accounting profession more diverse. They can do so by encouraging the hiring of more minority accountants. This is a win-win situation for both the accountants and accountancy firms as more diversity brings higher performance in the professional institution according to various studies.

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