INSIDE Public Accounting
published, One IPA 100 Firm Defies Diversity Statistics: 11 Of 17 Partners Are Women
, in their April 2016 newsletter:
"For decades, men have outnumbered women in the leadership of the nation’s accounting firms, but not at Washington, D.C.-based Raffa (FY15 net revenue of $45.3 million).
"According to the IPA 2015 Survey and Analysis of Firms, Raffa is the only IPA 100 firm with more than 50% women owners. A majority of Raffa partners – 11 of 17 – are women. Of the seven equity partners, five are women, leading an international, multi-cultural staff. In 2016, three more women will move into equity positions and all the new promotions at these levels were women this year: two were made non-equity partners and three were made directors.
"The firm’s demographics contrast sharply with the national trend. IPA’s survey shows that women make up 19% of all partners and 17.5% of all equity partners among the IPA 100 nationally. The AICPA’s demographic figures for all firms in 2014 show staff at 52% male and 85% white. At Raffa, over 62% of the entire staff are women.
"￼By design, Raffa is different. Tom Raffa founded the firm in 1984 as a socially responsible business that focuses on the not-for-profit sector and social impact ventures. The clients are diverse, and the altruistic mission tends to resonate with women. From the beginning, Raffa hired professionals with a wide range of cultures, backgrounds, perspectives and nationalities. He acknowledges it is far easier to do so in Washington, D.C., which draws professionals from around the world, than it might be elsewhere."