A history of colonialism, and subsequently apartheid, caused Black South Africans to experience reduced life chances in all areas of society, including accounting, the impact of which can still be felt today. For Musundwa, “transformation” entails a positive pedagogical change in what accounting can be for Black South Africans and their place as economic drivers, moving South Africa towards a brighter financial future. But this process is not easy, and Musundwa highlights the struggles of her journey in the profession and accounting academe. It is worth noting that collective action is a pathway toward this aim—one that champions equal hope and progress for all in the South African accounting space.
In times like these, it is instructive to consider the impact of diversity, equity, and inclusion (DEI) in the South African context. Worldwide, DEI advocates call for the inclusion of minorities within social and economic systems that have long marginalized them. In South Africa, however, the history of colonization and apartheid have meant that it is the majority that has historically been excluded. Thus, the call for inclusion can seem inadequate, as what is truly needed is a complete systemic overhaul, locally referred to as “transformation.” This term has caused confusion, as transformation is commonly understood to mean a fundamental change or a new approach. Indeed, in South Africa—especially in the accounting profession—a different approach is essential, as mere inclusion would undermine the effort required to redress deep-rooted inequities and structural barriers. Without a comprehensive transformation, the progress towards real equality and representation in the profession will remain superficial, leaving systemic injustices unchallenged and perpetuated (South African Government News Agency, “Transformation Key to Unlocking SA’s Economic Growth,” Jun. 8, 2025, https://tinyurl.com/yw96zhdt). True transformation requires not just inclusion but a fundamental reshaping of policies, practices, and mindsets to ensure genuine equity and empowerment.
Transformation in South Africa is often misunderstood as simply a buzzword denoting hiring quotas. But transformation is far more than just representation. It’s about changing the very foundations of systems built on exclusion, marginalization, and historical advantage. This includes revisiting curricula, rethinking recruitment, and offering genuine support to those from previously disadvantaged backgrounds (S. Musundwa, “Implementing Constructivist Teaching to Foster Inclusive Educational Practices in Accounting Programmes,” Accounting Education, pp. 1–34, 2024). It also requires a commitment to shifting mindsets at every level. Authentic transformation means more than just statistical representation (S. Musundwa & O. Moses, “The Lived Experiences of South African Black Accountants Within the Framework of the Chartered Accountancy Profession Sector Code,” Accounting, Auditing & Accountability Journal, 2024.) The focus must be on ensuring that marginalized communities can meaningfully participate in decision-making, policy influence, and economic leadership.
Accounting for South Africa’s Future
The accounting profession has a pivotal role in shaping South Africa’s future. Accountants sit at the helm of financial decision-making that can either perpetuate economic inequality or positively drive sustainable development. The South African economy has enormous potential to grow, but it cannot do so sustainably if a significant portion of the population remains locked out of key professional sectors (DTIC South Africa, B-BBEE Charters, https://tinyurl.com/57yzauhs). The government has recognized this in its Vision 2030 for South Africa (National Planning Commission, “A Review of the National Development Plan 2030,” https://tinyurl.com/h7czmc8v). The government proposes not only ensuring society is better represented but also driving innovation, fostering different perspectives, and building stronger, more resilient financial systems. This will require fundamentally altering how the profession serves the broader South African community. This can only happen if the profession dismantles the systemic barriers that have historically limited access.
The Role of Education in Fostering Transformation
In order to make a real impact on transformation, the educational system must adapt, both at the university level and within professional training programs, to the needs of a diverse student body. Curricula must reflect the diverse realities of the country and provide students with the tools to succeed (E. Loots, et al. Rethinking Commerce Education in South Africa: The Case for Change to Develop Future-Fit Business Leaders, AOSIS, 2024).
In my view, accounting programs should incorporate a broader understanding of local and global financial systems, social responsibility, and sustainability (E.J. Twyford, S. Musundwa, F.A. Tanima, and S. George, “Bridging the Gap: Sustainable Development Goals as Catalysts for Change in Accounting Education and Society,” Meditari Accountancy Research, 2024.) This will not only prepare students to work within the profession but also give them the skills to think critically about the ethical and social implications of their work. Furthermore, the curriculum must include a focus on inclusive leadership, teaching students how to manage and work with diverse teams in an interconnected world.
Professional development programs should focus on helping individuals adapt to new challenges, particularly diversity and inclusion (Musundwa & Moses 2024). This includes offering training in cultural competency, inclusive leadership, and unconscious bias topics. The current backlash against DEI policies shows how critical accountants are to matters affecting everyday society. Neutrality is not an option.
Creating Inclusive Pathways
Becoming a successful accountant is often a long and expensive endeavor, and the financial barriers can deter many talented individuals from pursuing a career in accounting. Inclusive pathways need to be created that address both the financial and educational barriers facing underrepresented groups.
Universities, professional bodies, and accounting firms should be commended for their current commitments to offer scholarships, bursaries, and mentorship opportunities to aspiring accountants from historically disadvantaged communities. Beyond this, employers must also ensure that their work environments are inclusive and supportive of all employees, particularly those from underrepresented groups. This can include offering flexible working arrangements, providing targeted opportunities for career development, and fostering an inclusive corporate culture (Musundwa & Moses 2024).
Mentorship plays a crucial role in the success of underrepresented groups, offering not only guidance and support but also helping individuals navigate challenges. Research highlights a stark reality: as individuals progress in their careers, they find there are fewer senior leaders who look like them, which can diminish motivation and a sense of belonging.
Reflecting on my own journey, I graduated with a PhD in 2022 as the first Black female in my faculty to achieve this at the largest university in the country (https://tinyurl.com/7x9rkcxn). While my accomplishment may have been a milestone, it also highlighted a systemic failure. The importance of mentorship, particularly from individuals who understand the unique challenges faced by underrepresented groups, became all the more apparent. Mentorship programs should ideally connect young professionals with experienced mentors from diverse backgrounds. These programs should be designed to help mentees build networks to break into spaces still dominated by a privileged few.
The Impact of Transformation on South Africa’s Economy
Transforming the accounting profession will have far-reaching effects on South Africa’s economy. A more diverse and inclusive profession will better reflect the country’s demographics, leading to more equitable economic development. Moreover, by tapping into historically marginalized communities, South Africa can unlock a wealth of talent and ideas to bolster innovation and growth. A more inclusive accounting profession can also play a critical role in addressing some of South Africa’s most pressing social challenges. By promoting financial literacy, transparency, and accountability, the profession can help address issues such as corruption, inequality, and poor governance. Furthermore, an inclusive and transformative profession can attract global investment and partnerships, as investors increasingly seek companies and countries that prioritize sustainability and social responsibility.
A Call for Collective Action
As accountants, it is our responsibility to drive transformation. Embracing the principles of DEI can help create an environment that is not only more inclusive but also contributes to building a stronger, more sustainable economy for South Africa. We must challenge the status quo, embrace new ideas, and work together to ensure that our profession truly reflects diverse local communities. This is a critical moment, and we must strive to secure a better, more inclusive future for all!
