Raffa Tops the List for Leadership Equity
Submitted by Raffa-Marcum’s Nonprofit & Social Sector Group
Expectations have never been higher for women’s advancement in the workplace, and the Accounting and Financial Women’s Alliance Best CPA Firms for Women list and the Best Firms for Equity Leadership List, based on the 2018 Accounting MOVE Project report, recognizes and showcases the firms around the country who truly get it and work hard to ensure that the profession’s much-needed emphasis on diversity and inclusion also furthers momentum for women. This year, Raffa, P.C. was named #1 for Leadership Equity.
The accounting industry has lagged when it comes to advancing women to the highest levels of leadership, however, this has never been the case at Raffa. According to the latest Inside Public Accounting Survey and Analysis of Firms, Raffa is the only IPA 100 firm with more than 50% women owners, making it the largest women-owned CPA firm in the United States. Raffa is also the largest B –Corp certified CPA firm in the nation scoring in the top 10% of all B-certified organization in the world. Today, the firm leads the industry with 63.2% women partners and principals. Over 71% of Raffa’s entire staff are comprised of women. And the diversity extends well beyond this percentage to communities including people of color and LGBTQ. Over 33 different languages are spoken at Raffa.
The Accounting MOVE Project Best CPA Firms for Equity Leadership list recognizes firms with at least 33% women partners and principals, as 33% is widely recognized as the tipping point for members of any identity group to have individual impact. The Equity Leadership list recognizes firms that have achieve that milestone through any combination of culture, programs or initiatives.
“As with anything in business, we must evaluate, adapt, and evolve to ensure continued success. This holds true for women’s initiatives. This year’s Accounting MOVE Project demonstrates how far women have come in the industry, but also expresses the need to keep pushing forward,” said Cindy Stanley, executive director for the Accounting & Financial Women’s Alliance (AFWA). “Raffa stokes the momentum with integrated flexibility and development programs, including an option for staff to mentor rising women leaders in other countries.”
“It’s really in how we define shared success,” said Kathy Raffa, President of Raffa, P.C. “The 2018 Accounting MOVE Project found that women comprise 25% of the management committees at participating firms—a huge advance from the 19% reported in the 2014 report, however, overall, women remain only 24% of partners and principals at CPA firms. This is simply unacceptable to us and always has been.”
“Raffa creates a culture of diversity and inclusion throughout every level of the firm while providing flexibility and opportunities for personal growth. It is who we have been, who we are and will always be,” said Tom Raffa, CEO of Raffa. “We continually focus our efforts for all of our staff to find their own individual purpose at Raffa. In this way, our hope is they become better people, not just better accountants.”
Learn how Raffa does more for women in this video.
As a B-Corp certified, majority women-owned, national Top 100 professional services advisory firm to nonprofits and socially-responsible businesses Raffa provides a wide array of services and back-office solutions to support and strengthen every aspect of their clients’ operations from tax, audit, accounting and HR administration, to IT services, benefits, and wealth management. With a mission to serve as a catalyst for positive systemic change, Raffa is about the people they serve, the relationships they nurture, the individual and collective contributions of their staff, and the myriad of actions they take for the betterment of the community.
The Accounting & Financial Women’s Alliance (AFWA) promotes the professional growth of women in all facets of accounting and finance. Members increase their career potential by connecting with colleagues, receiving education and mentorship to advance their careers, and developing leadership skills. Members have the availability to tap into a network of successful, motivated, and influential professionals who understand the unique position of being a woman in the industry and who, together, contribute to the future development of their profession. Visit AFWA.org for more information.
For more information about the Accounting MOVE Project, please visit the Accounting MOVE Project web page.
Led Led by veteran business journalist Joanne Cleaver, strategic communication firm Wilson-Taylor Associates, Inc., has been designing and managing national research projects that measure the progress of women in the workplace since 1998. Its methodology pivots on factors proven to remove barriers so that women can fully participate in driving business results. For more information, please contact firstname.lastname@example.org.
Raffa - Marcum’s Nonprofit & Social Sector Group’s strength and competitive edge lies in the fact that we provide expertise and superior service across a variety of essential interrelated financial, technology and consulting competencies. By embracing our client's vision and leveraging all of our talents, passion and resources to empower our clients, Raffa - Marcum's Nonprofit & Social Sector Group is able to fulfill its corporate mission to serve as a catalyst for positive systemic change in the community. Looking for the perfect interim CFO to help your organization address compliance requirements? Would it help to have external staff manage and provide your HR services? Would solid audit preparation, timely and accurate financial statements or new Federal Form 990 support help put your Board at ease? Is your organization ready to upgrade its accounting software or optimize its network performance? As your go-to-partner for compliance and operational excellence, Raffa - Marcum’s Nonprofit & Social Sector Group can help your organization manage all of your critical back office functions and free you up to remain focused on your mission. Services include: Accounting, Audit, Consulting, Employee Benefit Audits, Social Capital Advisory, and Tax.