The big four accountancy firms have voluntarily committed to report their ethnicity pay gap data.
INvolve is an organisation aimed at helping companies harness LGBT+, ethnic minority and female talent, and foster inclusive cultures.
In this case, INvolve is encouraging businesses to investigate their ethnicity pay gap in hope it will push the industry to take action and ameliorate disparities in the lived experiences of ethnic minorities in the workplace.
So far, companies including PwC, Deloitte, EY, KPMG, ITN, Bank of England, and many more, have endorsed the reporting framework laid out by INvolve.
The Association of Accounting Technicians (AAT) have welcomed the decision, but called for government to go further.
Phil Hall, AAT head of public affairs and public policy, said: “This is a very good but very small step in the right direction. There is much more to do.”
Prior to the organisations committing to report their ethnicity pay gap data, the AAT published the results of a YouGov poll it carried out with MPs on the issue.
It found that more than two thirds of MPs (69 percent) believe that new ethnicity pay ratio reporting requirements are: “A good start in tackling pay reported problems but much more needs to be done.”