According to Theresa Hammond in "Still Seeking the Ideal" (Journal of Accountancy, September 1999), the accounting profession has not been as successful in attracting minorities as have other fields. Although the number of Hispanic accounting graduates has grown since the profession began to address affirmative action more than thirty years ago, in 1997 they "constitute only 2.7% of hires but only 0.3% of partners." Low family income is partially responsible, since poor students are less likely to attend schools that adequately prepare them for college-level accounting studies. Unfortunately, in the 1990''s Hispanic income dropped while that of all other groups rose.

Unfamiliarity with the accounting field is another factor cited. There is an absence of accounting role models in their families, and it is not a profession that receives much attention in television programs. Neither are there many Hispanic accounting professors to serve as role models. Finally, discrimination continues to exist in a more subtle form. Although it was the civil rights movement that first alerted the profession about the need for diversity, there are now financial considerations. "Between 1987 and 1992, the number of Hispanic-owned businesses jumped 83%, with a dramatic 195% increase in revenues, to $73 billion."

In the same issue of the Journal of Accountancy, Catherine L. Carlozzi profiles two firms that emphasize minority recruitment in "Diversity is Good for Business." Among the subjects covered is the problem of retaining Hispanic and other minority accountants in a very competitive market. In addition to those that apply to professionals in general, such as competitive pay, excellent training, challenging work, and an employee-focused culture, one firm found that encouraging employees to do "pro bono" work has been successful.