Black CPAs across the country are celebrating the one-year anniversary of the National Society of Black Certified Public Accountants (NSBCPA).
Chartered on June 8th, NSBCPA was organized to increase the number of Black CPAs and provide resources for members to thrive in the profession. According to the organization’s website, Black CPAs are the most underrepresented group within the CPA profession. Surveys have shown that less than 1% of CPAs are Black. Also, there are less than 3% of Black staff at public accounting firms.
CPA Exam Review Program Helps More Black Accountants
The NSBCPA has been on a mission to change those statistics. During the organization’s first year, the NSBCPA has developed strategic programming and partnerships to further the development and awareness of Black CPAs. The organization has even garnered support from high-profile executive leaders, including Wall Street billionaire Robert F. Smith. In December 2020, Smith pledged $1 million to support Black CPAs.
“Raising Black representation in the financial workforce doesn’t just put more Black people in high-quality jobs. It helps build opportunity and wealth over generations while promoting financial literacy that is so crucial to achieving prosperity,” said Smith. “Representation matters and this program will help aspiring accountants see that they belong in this field.”
Smith’s investment has helped to jumpstart NSBCPA’s one-of-a-kind virtual CPA Exam Review Program (“CPA Breakthrough”). This program helps Black accounting students develop a roadmap for success during all phases of the CPA exam process. Members of the NSBCPA have been instrumental in getting students to the exam finish line. They’ve committed to providing mentorship, motivation, and CPA exam success tips.
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SOURCE: Black Enterprise, Charlene Rhinehart