AAT members are speaking at DAS, the one-stop shop for digital solutions.
As larger businesses start measuring their Scope 3 emissions, small businesses will have to measure
Here's how two neurodivergent people are successfully working in accountancy,
Tax refund services are an easy money-maker, but customers are getting angry about misleading advert
The Big 4 are investing in Artificial Intelligence, but is it worth it for smaller businesses?
Many are aware of blockchain in the context of cryptocurrency, but it has practical applications for
Confusing customs procedures are causing a headache for the accountants supporting and guiding small
We discuss Chancellor of the Exchequer Jeremy Hunt’s Autumn Statement with AAT members.
Susan Ball, RSM and President of CIOT discusses proposed options to offset tax.
Be on your guard against criminals posing as HMRC.
Forecasting has never been more vital, but many accountants cannot produce the reports their busines
Learn from other members' mistakes before you take the plunge.
Calculating the apprentice rate and when to implement it.
Accounting Technician is AAT's award-winning magazine for members. Check out the latest issue to sta
Whether you’re currently studying with AAT or a professional member, you’ll understand the impor
AAT Apprentice-turned-Partner Ryan Day shows how he grew a successful career
How do you distinguish true pearls of wisdom from unhelpful opinions?
The average recruiter or hiring manager spends six to eight seconds looking at a CV before they deci
It's a pivotal point in the interview, the tables are turned and you’re asked if you have any ques
We look at the emerging role of Finance Business Partner in the modern accounting industry.
This content is brought to you by Xero. Business boomed for accountants and bookkeepers across the U
Ace your way through revision, work-life balance, study techniques and CPD with these proven tips. L
Have you ever wondered why you pay the price for things that you do? Why a bottle of shampoo c
Accountancy isn’t just about punching in numbers; you’ve got to explain complicated concepts, su
Getting ready to take your Professional Synoptic assessment can be a nerve-wracking time. After year
New rules came into effect in January regarding online selling platforms, but ordinary people are le
Find out how the 'biggest shake-up' in Companies House history will affect you.
Accountants on the tricky task of unpicking pensions legislation as well as their own advisory bound
Have you ever been working on a spreadsheet and got distracted... and before you know it, you’ve o
Be in the know about anti-money laundering. Our explainer tells you all you need to know to get star
CBI President Lord Karan Bilimoria argues for a faster take up of ethnicity pay gap reporting.
Tools such as mandatory ethnicity pay gap reporting are vital in the fight against inequality in UK businesses.
Ethnicity data collection and reporting plays a critical role in closing disparities and highlighting inequalities. Just as with gender pay gap legislation, it will help shine a light on the barriers that people from ethnic minority backgrounds face and focus minds on actions to close the gap.
The CBI, like AAT, has continuously been calling for the introduction of mandatory ethnicity pay gap reporting. Business has been anticipating mandatory ethnicity pay gap reporting since the McGregor-Smith review of 2017 – yet in 2021, this has still not been adopted by the Government and too few companies are publishing their data. As we emerge from the pandemic, we must learn from the success gender pay gap reporting has had and accelerate ethnic minority representation in business.
Closing the ethnicity pay gap is about making society fairer and overcoming inequalities. It’s not just the right thing to do – the business case for it is watertight. Diverse companies are better companies, and building a more diverse workforce will open up everyone’s ability to contribute to the UK economy and increase productivity. The McGregor-Smith review finds that the potential benefit to the UK economy from race equality is estimated to be £24bn a year, which represents 1.3% of UK GDP.
Companies will have to get better at speaking about race at work – developing campaigns to encourage employees to declare their ethnicity, and improve racial and ethnic representation from entry level to boardroom. As CBI president, I am proud to say that we are playing our part. In October last year, the CBI, along with 14 founding business partners, launched Change the Race Ratio – a business-led campaign that champions the Parker Review targets. We want to accelerate racial and ethnic minority participation on leadership teams and boards of the UK’s largest businesses and call time on the all-white boardroom. Our campaign calls for four commitments:
• improve racial and ethnic diversity on boards – in line with the Parker Review targets;
• set and publish targets for Exco (the Executive Committee) and Exco minus (the level below the Executive Committee);
• publish a clear race action plan and a commitment to publish ethnicity pay gaps by the end of 2022; and
• create a culture for diversity to thrive and support your supply chain and wider stakeholders to take action on diversity. While the Government delays on committing to mandatory ethnicity pay gap reporting, businesses are seizing the initiative.
Our campaign will support signatories to make ethnicity pay gap reporting as straightforward as possible, while providing the rich insights needed to tackle disparities. Business can be a real force for good. But to build a fairer society and demonstrate the positive social impact of business, we need to get this right. Change the Race Ratio is committed to helping companies learn from peers and take action.
To find out more and sign up, visit: changetheraceratio.com.
About the author
Lord Karan Bilimoria, chair of the Confederation of British Industry (CBI).
Two years after the Government consulted over the ethnicity pay gap, nothing has changed. So.
BAME workers have been paid less and but been too worried to speak out.