June 25th 2025.
According to a report from Fox Business, the National Association of Black Accountants' annual recruiting event faced a major setback as a result of political pressure from the Trump administration. This pressure has led to the termination of diversity, equity, and inclusion initiatives in corporate America. The event, which serves as a platform for black accountants and accounting firms to connect with financial institutions and advisory firms, was held in Las Vegas from June 3-6.
However, this year's event was noticeably different from previous years, with a significant decrease in major sponsors. The absence of companies like Deloitte LLP, Wells Fargo & Co., and JPMorgan Chase & Co., who have traditionally been sponsors, was particularly notable. While companies like PwC and the Internal Revenue Service were still present, the absence of corporations like American Express Co., Meta Platforms Inc., and Walt Disney Co. spoke volumes. The report stated that attendance was down from last year, when almost 4,000 students and professionals participated.
Interestingly, the title sponsor of the event, Deloitte, kept the media out of the sessions they sponsored and refused to make their featured panelist, Lara Abrash, available for interviews. This, coupled with the lack of support from other major corporations, has raised concerns about the impact of President Trump's executive orders on diversity and inclusion.
The anti-DEI policies being implemented by the current administration are not only making it difficult for the accounting industry to sustain itself, but also hindering efforts to attract diverse individuals into the profession. Guylaine Saint Juste, CEO of NABA, expressed her frustration with the current political climate, stating that it has made it challenging to recruit minorities and address the employee shortage. Saint Juste, who has been CEO since 2021, believes that this issue needs to be urgently addressed.
The accounting industry is predominantly made up of white professionals, with only 2% of partners and Certified Public Accountants being Black. Paul Knopp, Chief Executive Officer of KPMG, echoed Saint Juste's sentiments, calling the lack of support for diversity and inclusion initiatives a "brewing crisis" that will have a significant impact on accounting firms and corporations.
This trend of decreased support for diversity and inclusion initiatives is not isolated to the accounting industry. In fact, other industries and spaces have also seen a decline in corporate support since President Trump's executive order to end DEI policies. This was evident during Juneteenth celebrations, where Meetings and Conventions reported a decrease in corporate support. In Denver, a dozen companies pulled out of the Juneteenth Music Festival, and in Colorado Springs, the celebration had to move locations due to a decrease in sponsors and city funding.
In a related story, filmmaker Tyler Perry recently made headlines for firing his accountants after discovering that the IRS owed him $9 million in tax returns. This highlights the importance of diversity and inclusion in the accounting industry, as a lack of representation can lead to serious consequences for individuals and businesses. It is crucial for corporations to recognize the value of diversity and actively support initiatives that promote it.
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