Culture and career growth are top factors that members of Generation Z -- those born between 1996 and 2010 -- look for when choosing accounting internships, a survey found. Firms can gain an edge by following good communication practices and using a recruiting team that includes people from different backgrounds.
Employee diversity has increased at CPA firms since the AICPA Council passed a resolution in 1969 designed to unlock opportunities in the profession. Fifty years later, firms can continue the progress by taking several steps, including addressing unconscious bias and gathering feedback about the obstacles that still exist.
Organizations are now recognizing that fostering diversity and inclusion (D&I) in the workplace is both the right thing to do and a way to improve business. In this 20-minute video, Barry Melancon, CEO and president of the AICPA, and Michele C. Meyer-Shipp, principal and chief diversity and inclusion officer, KPMG, discuss how D&I has evolved and the impact it has had on organizations.
Focusing on facts rather than feelings can help overcome unconscious bias. To separate facts from assumptions, ask yourself what concrete information you have about other people -- not how you feel or what you've heard about them.
Gender diversity on the boards of the largest S&P 500 companies has risen gradually in recent years, with women holding 24% of the seats in 2018, according to a KPMG report. The report's authors note that businesses are now more willing to recruit directors without CEO experience.
The CEO Action for Diversity and Inclusion program, launched in 2017, now includes more than 800 CEO signatories, including leaders of major accounting firms and organizations. Earlier this year, the program added a fourth commitment for signatories, calling on them to develop and review diversity and inclusion plans. Last month, signatories gathered in New York City to share best practices and discuss their experiences.
Skills that entry-level CPAs need are changing rapidly. A proposed licensure model would address this challenge by requiring candidates to demonstrate certain core skills, as well as deeper understanding in one of three specialty areas.
The Financial Accounting Standards Board is working to reduce complexity in liabilities and equity guidance in the final months of Chairman Russell Golden's term. Golden also expects vigorous debate on accounting for goodwill.
Sections of the AICPA Auditing Standards Board's codification would be amended under a proposal to conform with recently issued standards on auditor reporting and the auditor's responsibilities relating to other information included in annual reports.
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