The National Society of Black Certified Public Accountants (NSBCPA) has selected Darryl R. Matthews Sr. to serve as its President and CEO. Matthews is an experienced and well-respected leader with a diverse set of experiences under his belt — all of this will help serve the needs and mission of the NSBCPA.
The NSBCPA was founded in June 2020 to close the resource gap for prospective accountants in the Black community and increase the number of Black CPAs. In a statement about his new position, Matthews said, “My vision is to ensure that through effective programming and mentoring we will be the premier membership society of choice for blacks pursuing certification in public accounting, and excellence in their professional endeavors.”
Growing the Number of Black Accountants
Matthews’ selection comes at an important time. New statistics from the Bureau of Labor Statistics released in March 2021 show Black unemployment on the rise, while declining for every other group. The current health and economic crisis has brought the Black unemployment rate to 9.9% — the highest of all racial groups tracked.
In December 2020, Robert F. Smith pledged to donate $1 million to help support Black accountants. This investment will go toward closing some of the previously mentioned gaps, and diversifying the accounting industry as a whole. Currently, only one percent of accountants in the United States are Black, and it took more than 44 years to get the first 100 Black CPAs licensed. To create parity in the accounting field, we need to be actively encouraging and supporting Black people who wish to become accountants. Matthews plans to play an important role in ensuring that Smith’s pledge is used effectively and enables more Black students to sit for and pass the four-part CPA exam.
Black CPAs are resources for themselves, their families, and their communities — having experts like them in all communities can ensure that everyone has access to the financial resources and information they need. With philanthropic investments and leaders like Darryl R. Matthews Sr. at the helm, we are hopeful that we can close remaining gaps and help create more Black accountants.
Visit the NSBCPA website to request information to become a CPA breakthrough mentor or to find a Black CPA.