belonging, not perks, is the deciding factor in public accounting’s talent future.
by 卡塔尔世界杯常规比赛时间
as the accounting profession contends with a historic labor shortage, a new report warns that firms pulling back from diversity, equity and inclusion efforts are courting deeper disruption to their profitability, quality and future viability.
download the full report here
the new 2025 accounting move project report finds that dei has become a flashpoint in the accounting profession’s talent crisis – just as the industry faces its most severe workforce contraction in decades.
“belonging isn’t a soft concept; it’s a hard-edged business imperative,” says bonnie buol ruszczyk, president of the accounting move project.
in addition, 12 firms were cited as exemplary by the accounting & financial women’s alliance: bpm, clark nuber, eide bailly, frazier & deeter, the bonadio group, schellman, kwc certified public accountants, bland & associates, james moore & co., abbott, stringham & lynch, kerkering, barberio & co., and rehmann.
“firms that step back from this work aren’t avoiding controversy,” ruszczyk says. “they’re choosing to shrink their talent pool and limit their own growth potential. the research is clear: in a profession built on trust, collaboration and expertise, people perform their best, and stay the longest, where they feel they truly belong.”
yet instead of doubling down on belonging and inclusion to attract new talent and retain existing staff, some firms are retreating into silence or disengagement out of fear of political backlash.
“silence doesn’t fill a pipeline,” the report says. “in a market where talent is the ultimate competitive advantage, disengaging from these conversations isn’t just shortsighted; it is a strategic misstep with predictable costs.”
the real cost of turnover: dollars, clients and culture
the move report pegs the cost of replacing a single accounting professional between 50 percent to 200 percent of annual salary, citing shrm and personiv data. for a midsized firm with 20 percent turnover, replacement costs alone can reach nearly $2 million annually – not including lost productivity, knowledge drain or client defections.
turnover also hits audit quality. research from the accounting review shows that high audit-staff attrition correlates with weaker engagements and lower client satisfaction. meanwhile, harvard business review reports that improving client retention by just 5 percent can boost profits by 25 percent to 95 percent.
talent exodus: a pipeline running dry
between 2020 and 2023, 300,000 accountants left the field, according to the bureau of labor statistics, and the number of cpa exam candidates has dropped 32 percent since 2016, according to aicpa data cited in the report. with 75 percent of current cpas expected to retire within 15 years, the math is unforgiving.
and it’s not just burnout or compensation driving the exits. the institute of management accountants found that finance professionals are four times more likely to cite a lack of belonging than compensation as a reason for leaving their jobs – a finding the move project says is likely even more pronounced in public accounting.
firms that win are betting on belonging
move spotlights a new cohort of firms treating dei not as politics or pr but as strategic infrastructure. these firms are investing in:
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proactive pay equity audits: some now give hr veto power over compensation decisions that can’t be objectively justified.
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expanded career tracks: firms are creating director-level roles that don’t require a cpa license, opening advancement for professionals in non-traditional pathways.
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radical flexibility: one firm closed its entire office for the july 4 week and mandates sabbaticals after eight years. another allows 10-hour-per-week custom schedules to retain working parents.
these firms report deeper client trust, lower burnout and significantly stronger retention of women and underrepresented talent.
fear vs. future: the political freeze on dei
amid rising political pushback, some firms declined to participate in this year’s move report, fearing public association with dei could jeopardize client relationships or make them litigation targets. for the first time in the project’s history, participating firms are not named.
executive orders signed in january 2025 by president trump have added fuel to the anxiety. one order, “ending illegal discrimination and restoring merit-based opportunity,” rescinded affirmative action mandates for federal contractors. while a federal judge has partially blocked the order, confusion reigns – and many firms are quietly stripping dei language from public communications.
yet the legal framework for inclusive practices remains intact, according to legal analysis included in the report. “what has changed is the scrutiny … not the law,” says employment attorney aislinn sroczynski. she cautions firms against dismantling dei programs that help them meet federal non-discrimination obligations.
bottom line: dei is strategy, not charity
the move project argues that belonging is a “hard-edged business imperative,” not a soft hr initiative. firms that embed dei into their operating systems – compensation, client service, leadership development – are not only surviving the profession’s upheaval, they’re building competitive moats.
“without inclusion, there is no future,” the report concludes.
what’s next
with 87 percent of hiring managers struggling to find qualified talent and burnout topping the list of employee departures, the question for firm leaders is whether they will follow the profession’s early adopters – or fall behind as talent migrates to firms where they feel they belong.
because, as the move report warns, “retreat may feel safer, but silence is not neutral.”
the report explores four major forces reshaping retention and advancement in accounting:
- the real cost of turnover: replacing even one experienced accountant costs 50 percent to 200 percent of annual pay, but the ripple effects, from client trust to team culture, are far greater.
- the belonging quotient: employees who lack a sense of belonging are 4x more likely to leave. neuroscience shows that social exclusion triggers the same regions of the brain as physical pain, which is why perks alone can’t fix retention.
- three trends that work: leading firms are pairing pay equity with real accountability, turning succession planning into a documented and measurable process, and transforming flexibility from a benefit into a core business model.
- the dei crossroads: with some firms sitting out this year over optics, the report calls on leaders to stay the course. ruszczyk notes, “stepping back from dei now isn’t neutrality, it’s regression. when firms retreat, they are choosing to preserve barriers that keep talented people out and prioritize the comfort of the status quo over the progress the profession urgently needs.”
despite the political pressure, many firms are doubling down, embedding inclusion into business strategy, broadening recruitment pipelines and building cultures where people see a future for themselves. these firms are not only improving retention, but they’re also strengthening client service, driving innovation and positioning themselves for long-term growth.
“this work has never been more needed,” said donny shimamoto, cpa, citp, cgma, inspiration architect for the center for accounting transformation. “if we want the profession to thrive, we must continue building pathways that provide opportunity for all talent. belonging isn’t a distraction from profitability; it’s how we achieve it sustainably.”
the report also shows how participating firms are translating move’s four foundational pillars into action:
- money (continuous pay equity and student-loan support),
- opportunity (defined career pathways and formal sponsorship),
- vital supports (mental-health resources and sabbaticals) and
- entrepreneurship (innovation pipelines and ergs that influence client strategy).
“history will remember the choices we make now,” ruszczyk added. “firms that invest in people will define the future of this profession.”
along with this year’s report, the accounting move project released its annual lists of exemplary cpa firms: the 2025 best firms for women and the 2025 best firms for equity leadership. while this year’s lists are shorter than in previous years because of reduced participation, the firms recognized here represent some of the very best of the profession. these firms continue to lead with intention, embed equity into their strategy, and create workplaces where people can build lasting, successful careers.
firms that want to attract, retain and advance top talent can no longer afford to guess at what’s working. the accounting move project gives leaders a data-backed road map to build cultures that last.
the accounting move project is the basis for two recognitions of excellence for women in the accounting and advisory profession, both awarded by the accounting & financial women’s alliance: best cpa firms for women and best cpa firms for equity leadership.
the best cpa firms for women
(in alphabetical order)
bpm llp – bpm llp’s substantial presence with nearly 1,300 employees worldwide (950+ in the u.s.) includes a workforce that is 57 percent women. with 30 of its 92 executive leaders being women, bpm demonstrates that large, internationally focused firms can maintain strong commitments to gender equity while delivering sophisticated services. the firm’s scale allows it to offer diverse opportunities for women to lead across multiple practice areas, industries and geographies, creating pathways for advancement that span the organization.
clark nuber – clark nuber stands out as a frontrunner in gender equity, with women comprising more than half of its partnership group. with almost 70 percent women across its workforce, the firm has created an environment where women don’t just participate, they lead. with more than 300 employees, clark nuber’s commitment extends beyond numbers to culture, focusing intensely on both people and clients. the firm continues to expand its efforts to foster belonging and maintains strong programs that support women’s advancement through every level of the organization.
eide bailly – as one of the largest firms on the list with approximately 3,500 staff and partners, eide bailly shows that size doesn’t preclude progress on gender equity. with 130 women among its 420 partners and 50 percent women across the full workforce, eide bailly is retaining staff and continuing to grow. the firm’s substantial platform provides extensive opportunities for women to advance into leadership roles across numerous offices and practice areas, creating a pipeline for continued progress in partnership diversity.
frazier & deeter – frazier & deeter’s more than 650-person firm achieves gender balance with exactly 50 percent women across its workforce and 39 percent female partnership. the firm rates itself highly successful because it prioritizes investing in relationships by building trust, loyalty and long-term partnerships that drive sustained growth and exceptional results for both employees and clients. with expanded belonging efforts and unwavering commitment to creating an inclusive environment, frazier & deeter demonstrates that focusing on relationships (both internal and external) creates the foundation for excellence and equity.
the bonadio group – the bonadio group is a nationally ranked ipa top 40 cpa firm that provides assurance, tax, advisory and consulting services to clients both within and outside of the u.s. with 1,005 employees and 43 women among its 114 partners, bonadio has made incredible progress over recent years in advancing opportunities for women and enhancing the firm’s culture. at 53 percent women across the workforce, the firm demonstrates a consistent commitment to diversity and belonging at all levels. bonadio’s continued success in retention, attraction of top talent, and building an environment where everyone can thrive reflects the firm’s dedication to meaningful, lasting change.
schellman (honorable mention) – schellman earns an honorable mention on this year’s best cpa firms for women list for its leadership and progress in a sector where women remain significantly underrepresented. while the firm’s workforce (29% women) and partnership (11% women) numbers fall below typical move benchmarks, they reflect meaningful advancement in the cybersecurity and it compliance space, an area historically dominated by men. with a woman ceo and a majority-female executive leadership team (56%), schellman demonstrates that intentional leadership, targeted development programs and a culture of inclusion can drive real change even in challenging talent markets. more than a marker of equity, this commitment fuels innovation, enhances decision-making and strengthens schellman’s competitive position in one of the fastest-evolving sectors of the profession.
the best cpa firms for equity leadership
73% – kwc certified public accountants – kwc once again demonstrates that smaller firms can lead the way in gender equity, with 73 percent of its 25 partners being women. the firm’s 143-member team is 46 percent female, reflecting a consistent commitment to creating opportunities for women throughout the organization. while leadership acknowledges there’s always room for improvement, kwc’s track record speaks for itself; women hold leadership positions across practice areas and shape the strategic direction of the firm.
60% – bland & associates, p.c. – for a firm of its size, bland & associates is well above average when it comes to women holding leadership roles. recognized as one of the fastest-growing firms by accounting today for 2025, bland achieved remarkable growth. with 53 percent of its workforce being women and 60 percent female partnership, the firm has ingrained gender equality into its culture. two noteworthy programs include bland’s women’s initiative for rising stars (bwinrs), which supports women on their career journey through mentorship and networking opportunities, and bland leadership institute for the next generation (bling), focused on developing emergent leaders.
52% – clark nuber – clark nuber stands out as a frontrunner in gender equity, with women comprising more than half of its partnership group. with almost 70 percent women across its workforce, the firm has created an environment where women don’t just participate, they lead. with more than 300 employees, clark nuber’s commitment extends beyond numbers to culture, focusing intensely on both people and clients. the firm continues to expand its efforts to foster belonging and maintains strong programs that support women’s advancement through every level of the organization.
50% – james moore & co. – james moore continues to impress with a partner group comprised of 50 percent women. led by powerful and energetic leadership, the firm is anything but traditional, choosing employee happiness as the litmus test for success. as a reliable innovator with 288 employees and 58 percent women across the workforce, james moore consistently showcases the mindset, robust support and vibrant energy needed to cultivate and sustain an inclusive and welcoming workplace. the well-established cpa and consulting firm combines strong industry specialization with a commitment to both client service and positive workplace culture.
50% – abbott, stringham & lynch – asl has achieved true partnership parity with women comprising exactly half of its 18-member partner group. at 71 percent women across its 112-employee workforce, asl surpasses national averages significantly. the firm has continued to grow year over year while remaining independent, with employees consistently providing feedback that they’re happy with engagement activities, benefits and work-life balance. asl’s expansion of belonging efforts demonstrates an ongoing commitment to maintaining the supportive environment that has become its hallmark.
46% – kerkering, barberio & co. – at 66 percent, the percentage of women full-time employees at kerkering, barberio & co. surpasses the average nationally and across other move firms. with 46 percent female partnership, kb women lead most practice areas, fostering positive succession trends. the firm of 145 professionals is committed to creating a supportive and empowering environment where people can learn, grow and thrive. the firm’s leadership believes that investing in its team leads to shared success and strives to provide employees with a work-life balance that ensures business needs are met while personal lives are prioritized.
38% – the bonadio group – the bonadio group is a nationally ranked ipa top 40 cpa firm that provides assurance, tax, advisory and consulting services to clients both within and outside of the u.s. with 1,005 employees and 43 women among its 114 partners, bonadio has made incredible progress over recent years in advancing opportunities for women and enhancing the firm’s culture. at 53 percent women across the workforce, the firm demonstrates a consistent commitment to diversity and belonging at all levels. bonadio’s continued success in retention, attraction of top talent, and building an environment where everyone can thrive reflects the firm’s dedication to meaningful, lasting change.
39% – frazier & deeter – frazier & deeter’s more than 650-person firm achieves gender balance with exactly 50 percent women across its workforce and 39 percent female partnership. the firm rates itself highly successful because it prioritizes investing in relationships by building trust, loyalty and long-term partnerships that drive sustained growth and exceptional results for both employees and clients. with expanded belonging efforts and unwavering commitment to creating an inclusive environment, frazier & deeter demonstrates that focusing on relationships (both internal and external) creates the foundation for excellence and equity.
34% – rehmann llc – rehmann has experienced significant growth while maintaining a remarkable track record of retaining and attracting talent, with record-breaking years of low turnover and high recruitment success. at more than 1,000 employees with 59 percent women across the workforce, the firm has built a culture where women thrive at every level, including in 34 percent of partnership positions. rehmann’s continued investment in its people, combined with the steady expansion of opportunities, creates an environment where talent flourishes and women see clear pathways to leadership.
33% – bpm – bpm llp’s substantial presence with nearly 1,300 employees worldwide (950+ in the u.s.) includes a workforce of 57 percent women. with 30 of its 92 executive leaders being women, bpm demonstrates that large, internationally focused firms can maintain strong commitments to gender equity while delivering sophisticated services. the firm’s scale offers diverse opportunities for women to lead across multiple practice areas, industries and geographies, creating pathways for advancement that span the organization.
31% – eide bailly – as one of the largest firms on the equity list with approximately 3,500 staff and partners, eide bailly shows that size doesn’t preclude progress on gender equity. with 130 women among its 420 partners and 50 percent women across the full workforce, eide bailly retains staff and continues to grow. the firm’s substantial platform provides extensive opportunities for women to advance into leadership roles across numerous offices and practice areas, creating a pipeline for continued progress in partnership diversity.