IMA® (Institute of Management Accountants), revealed key findings from an attitudinal study titled, “Diversifying MENA Accounting Talent.” IMA has discovered some fascinating information about Diversity, Equity, and Inclusion (DE&I) in current finance and accounting workplaces.
Hanadi Khalife, Senior Director of MEA & India operations at IMA, said: “The theme for this week at EXPO 2020 Dubai is ‘Tolerance and Inclusion’– crucial requirements of every society and workplace. This study aims to highlight the progressive thinking needed to reach a truly diverse, equitable, and inclusive workplace while promoting best practices. Our findings indicate that recruiting and promoting talented people based on relevant and unbiased factors rather than demographics present a valuable opportunity. The long-term future of the accounting profession will be shaped by the ability of organizations to look inwards and work to accelerate the DE&I transformation already underway within the workplace.”
Loreal Jiles, Vice President, Research and Thought Leadership at IMA shared, said: “These findings call for relevant stakeholders to act collectively to acknowledge the true impact of the current state of DE&I within their organizations and what more needs to be done to make it truly inclusive and diverse. Our profession’s goal of a sense of belonging for all people must be accomplished by fostering an unbiased, inclusive, and respectful culture.”
More than 1,100 current and past accounting professionals in MENA were interviewed online, comprising a representative sample of men, women, and determined individuals, as well as 15 financial and accounting professionals and academics.
The initial research findings, presented at the USA Pavilion at EXPO 2020 to honour Tolerance and Inclusion Week, were co-sponsored by IFAC (International Federation of Accountants) and carried out in collaboration with a number of global and global regional accountancy organizations.
According to the study, over two-thirds of respondents from all backgrounds saw the management accounting profession as equitable or inclusive. People of determination reported a broad perspective of the profession as equitable or inclusive more than their able-bodied peers. Less than half of female respondents, on the other hand, believe they:
The IMA study emphasized the remarkable qualifications of female accountants and those who identify as determined people.
These insights were discussed by a panel of top industry professionals in the region, including Mario Barilli – CFO for Middle East- Accenture, Esther Ndichu, Vice President for Community Relations and The UPS Foundation at UPS , Wassim Karkabi – Managing Partner & Board Director, Middle East, Russia & Greater China at Stanton Chase, and Dr.Nada Jammoul Messaikeh – Associate Vice Provost for Research Administration and Financial Planning at New York University Abu Dhabi.
Khalife also stressed the importance of DE&I in retaining female talent, with the IMA study revealing that almost a third of female respondents (31%) have left a company due to the perception of unfair treatment. The challenge is particularly acute for determination professionals, with more than two-thirds (64%) of respondents in this category saying they have moved company due to poor DE&I standards.
During the panel discussion, industry experts applauded the positive action taken by regional governments as part of their strategies for economic and social reform. The United Arab Emirates and Saudi Arabia were praised for setting ambitious targets for inclusion and advancement of women and people determination.
The management accounting profession must continue to raise standards to meet the expectations of host countries, they said.
