ARLINGTON, VA (March 6, 2018) — Bloomberg Tax today released a survey of more than 400 tax and accounting professionals regarding the state of diversity and inclusion within accounting firms and corporate tax and accounting departments. While most accounting firms and corporations report widespread support for diversity and inclusion, the survey uncovered varying perspectives on the implementation and success of diversity and inclusion initiatives. To download a complimentary copy of the survey report, please visit http://on.bna.com/ue5n30iLwhB.
Among the notable differences, corporate accounting departments reported greater emphasis on diversity and inclusion than corporate tax departments. While the vast majority (76 percent) of corporate accounting department respondents consider diversity and inclusion as important to their departments, only 46 percent of tax department respondents shared that sentiment. That disparity also holds true when selecting an accounting firm as a vendor: only 35 percent of corporate tax department respondents deem diversity and inclusion an important factor in the decision as compared to 67 percent of accounting department respondents.
In accounting firms, the perception of the impact of diversity and inclusion initiatives skews higher among those making hiring decisions. While 86 percent of hiring managers in accounting firms rate overall diversity efforts highly, only 46 percent of those not responsible for hiring feel similarly.
The survey also uncovered a much a greater focus on diversity and inclusion in hiring and recruiting than retention and professional development. While 81 percent of corporate tax and accounting departments have diversity and inclusion initiatives related to hiring, only 47 percent have similar efforts focused on retention. Those figures are 74 percent and 58 percent, respectively, for accounting firms. And half of tax departments (51 percent) indicate that their main challenge in advancing diversity and inclusion is a limited pipeline of top talent (compared to 40 percent of accounting respondents).
“The survey revealed different perspectives on diversity and inclusion between high-level managers and lower-level managers and staff, which underscores the need and opportunity for organizations to engage with their employees and do as much as possible to retain their talent,” said Lisa Fitzpatrick, Vice President and General Manager, Bloomberg Tax. “And given the challenges associated with building a pipeline of diverse talent for the tax and accounting profession, we will be continuing to monitor and report on this issue through our news coverage and industry research.”
The survey was conducted online in late 2017 and was completed by 421 respondents—140 respondents from accounting firms and 281 respondents from corporations.
Bloomberg Tax provides comprehensive global research, news and technology services enabling tax professionals to get the timely, accurate, and in-depth information they need to plan and comply with confidence. Our flagship Bloomberg Tax platform combines the proven expertise and perspectives of leading tax practitioners in our renowned Tax Management PortfoliosTM with integrated news from the industry-leading Daily Tax Report®, authoritative analysis and insights, primary sources, and time-saving practice tools. Bloomberg Tax technology solutions on our proprietary Advantage platform help practitioners simplify complex processes to better control risk and maximize profitability. For more information, visit https://www.bna.com/tax/.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)