Accountancy and finance profession viewed as being ‘broadly inclusive’, but more needs to be done, finds global research

Sixty-one percent of global respondents to a survey amongst accountancy and finance professionals say that they work in an environment free from harassment and discrimination, ACCA (the Association of Chartered Certified Accountants) reveals in a new report Leading Inclusion.

The results for the 466 respondents in Pakistan show 52 percent believe this to be the case, with 37 percent saying ‘partially’ and nine percent saying ‘no’. Just two percent said ‘I don’t know.’

Through research questions and roundtable discussions, ACCA has gauged global opinions from 10,000 ACCA members and future members on a wide range of issues relating to diversity and inclusion, starting with the question ‘Are we truly a profession that is open to all?’

Eight-two percent of Pakistan respondents said the profession was open to all – making it easy to join the profession – compared to just 64 percent in mainland China. And 69 percent also believe that the profession is inclusive – where people who join it are treated equally and brought into the fold, compared with 67 percent in Western Europe, and 69 percent in Central and Eastern Europe.

Sixty-five percent in Pakistan saw a strong link between diversity and inclusion policies to organisational success, with respondents also confirming the benefit of diversity and inclusion in the workplace – 48 percent said it lends itself to better decision making, 45 percent increased creativity and 41 percent said a variety of different perspectives.

Fifty-two percent said the profession has a diversity issue that needs to be addressed, and when asked if they understand the steps that could be taken in the workplace to promote diversity and inclusion, 47 percent said ‘yes’, 40 percent ‘partially’, and seven percent ‘no’ – just six percent admitted to not knowing.

The report concludes that there is no basis for complacency, with 84 percent of Pakistan respondents saying the profession should do more to promote diversity and inclusion amongst its membership.

ACCA’s report offers recommended actions to promote diversity and inclusion in organisations, from establishing a diversity and inclusion policy that sets out organisational principles to leadership principles that set the tone from the top and holding leaders accountable –  individuals make the difference; organisations can provide the frameworks. The report also suggests actions that accountants can take to develop this agenda.

Helen Brand OBE, chief executive of ACCA says: ‘The foundation of ACCA in 1904 was to create a professional body for accountancy professionals that was open to all. We take pride in being the first body to admit women members as early as 1909, and to being a pioneer for other notable milestones in the profession’s evolution. The value of inclusion remains at the core of everything that we do. ACCA’s commitment in December 2020 to the UN Sustainable Development Goals is one aspect of this. Goals 5 and 10 particularly speak to aspects of diversity and inclusion and how we need to work together to address some of the fundamental issues we face.’

Sajjeed Aslam, head of ACCA Pakistan adds: ‘Fundamentally we need to appreciate that the diversity agenda embraces wide range issues within our society. To focus on one is to ignore the importance of the rest. However, what we see in these results is a profession that is aware of the issues, is keen to bring about change and wants to lead inclusion. They are not complacent about the future.’

Clive Webb, author of the report and senior insights manager at ACCA adds: ‘The pandemic is impacting our society in many ways. The impact on social justice is starting to be felt in many ways too, and our report argues, this is something in which accountants must play a fundamental role. As accountancy and finance professionals, it’s important that we apply our robust and ethical lens to the challenges of the diversity agenda.  By focusing on the symptoms of the issues rather than the causes we run the risk of not making substantive and lasting change when it is very necessary. I truly hope this report places these important issues centre stage so we can take the dialogue and engagement further.’

Clive Webb concludes: ‘Accountancy and finance professionals must be a force for good in the organisations that we work in and for. Our ethical lens and the trust in the profession means that we cannot but fail to embrace the diversity and inclusion agenda. It is too important to be left to one side, it is about the fabric and future of the organisations that we are involved in.  It is not just the responsibility of the human resources team, but something that everybody in the organisation needs to embrace.’

Leading Inclusion can be found here: https://www.accaglobal.com/gb/en/professional-insights/global-profession/diversity_inclusion.html