Best Cities for Minority CPAs

All Cities Are Not Equal

Robert E. Osborne, CPA, and Lynette I. Wood, PhD, CPA, and Cynthia M. Jackson, PhD, CPA

Almost 500 years ago, the French writer Michel de Montaigne stated, “There never were, in the world, two opinions alike, no more than two hairs, or two grains; the most universal quality is diversity.” Today, more than ever, these words of wisdom hold significant meaning for those in the business community. The accounting profession, in particular, has the potential to greatly increase its diversity in areas ranging from gender and age to socioeconomic background and, especially, ethnicity. Across the United States, accountants who are not of European descent are greatly needed to balance the ethnic diversity of the profession with that of the nation as a whole. The AICPA reports that in 2004, the two largest U.S. minority groups, African Americans and Hispanic Americans, were significantly underrepresented in the accounting profession. African Americans and Hispanic Americans accounted for 1% and 0.5%, respectively, of all CPAs employed in public practice. This level of underrepresentation is hard to ignore, particularly for those interested in workplace diversity. With representation so low, it is important to identify optimal environments in which minority CPAs are likely to thrive and succeed.