How Q Accountants Are Setting the Example for DEI and ESG in the Accounting Industry
Hear from Daniel Ellis of Q Accountants, winners of the 2023 DEI Pride Award, about their work on DEI and ESG in the accounting industry.
·4 min read
As finalists for the DEI award in the 2023 Accounting Excellence awards, we caught up with Bright customers, Q Accountants, on how they embed DEI and ESG into life at the practice, and in the wider industry.
As sponsors of the Pride category as part of the Accounting Excellence Awards, we’ve got a passion for DEI and ESG here at Bright. So, to hear one of our own customers had been shortlisted for the 2023 DEI Pride Award, we knew we had to chat!
We sat down with Daniel Ellis, who’s been at Q Accountants for just under a year, and he told us about the incredible work they’re doing at the firm which is having a positive impact for people across the globe.
The more conversations we had, the more obvious all the great things we were doing became.
Founded in 2015 by Farid Gasanov, Q Accountants opened their first office under the name of SmallBiz. In 2019, they rebranded to become Q Accountants, and expanded outside of London with a brand-new office in Sheffield, growing the team to 26 members of staff.
When Daniel started at the practice, he’d have regular check-ins with Farid about initiatives they were up to, which really highlighted just how much DEI and ESG were built into the foundations of the company.
Quite frequently we’d sit down and ask ourselves what are we doing? What more can we do? And all these great projects just naturally fell out of those conversations so we decided we should shout about it and try to be an example in the industry
Helping directly: The Ukraine initiative
Q Accountants founder, Farid Gasanov, is deeply committed to addressing social issues and believes that achieving financial success serves as a powerful tool to make a positive impact on those in need. Farid and Q Accountants are dedicated to leveraging their financial expertise to contribute meaningfully to charitable endeavours and support initiatives that create a lasting and positive change in the community. Filled with diverse members from all walks of life, it was important for the Q Accountants team to help and support those displaced by the war in Ukraine.
Those fleeing the war left on little-to-no notice, leaving behind well-established local businesses and trades. Arriving in the UK with many individuals unable to speak English, the task of not only rebuilding their lives but also learning how to navigate, establish, and manage a business seemed an overwhelming and seemingly impossible challenge. The team at Q Accountants recognised their multi-national team who speak a wide variety of Slavic languages, including team members who originate from Ukraine, noticing their unique ability to support.
Despite being an accountancy firm, Q Accountants’ support doesn’t just stop with the financials. The team not only sought to provide accounting advice and work from their skilled team, but they also offered more personal support to those in need. From acting as a translator, to helping build communities and networks to connect them with other professionals in their industry, to helping to set up their utilities and even source childcare, Q Accountants have really shown the commitment to go above and beyond.
The team have since helped over 20 businesses and individuals get settled in the UK, and they continue to offer a large discount on any continuing services to any Ukrainian business or trader that works in the charitable sector.
Helping indirectly: Fair Shot Café
Not only are Q Accountants having a direct impact on such important causes, but they also seek to help indirectly where they can too. When it comes to charitable organisations, the practice helps them set up and offers a full year free for their accounting services. They’ve worked with a range of charities in the UK including Fair Shot Café, who are empowering adults with learning disabilities to find paid employment in the hospitality industry.
As an accountancy practice, we’re in a unique position where we can help businesses that are helping others. It’s not just always about doing those things ourselves, but championing and supporting those causes that are already doing fantastic work within the community.
Prioritising ESG
In addition to this incredible work, the firm are also making a hugely positive environmental impact. Through their partnership with Verdn, every time a client pays through direct debit, a portion goes directly to help support important ecosystem restoration around the world. Through this partnership, Q Accountants have enabled over 1,000 new mangrove trees to be planted and contributed to the removal of 15,300 kg of CO2 in Kenya, Mozambique and Madagascar.
The company are now looking to become B Corp certified, which means that a business is meeting high standards of verified performance, accountability, and transparency on factors from employee benefits and charitable giving to supply chain practices and input materials.
What does DEI and ESG mean for Q Accountants?
It’s clear to see that DEI and ESG are truly at the heart of everything Q Accountants do, but what do these initiatives really mean to those at the practice?
On diversity, equity and inclusion, Daniel explained that being a positive force for change is a priority for the team, and something that comes naturally to them:
For us, it’s about bringing positive change in all aspects of what we do. It’s asking ourselves how we can better serve our clients, our employees and the wider community we exist in. It’s not just about how the firm can benefit, but how this can positively affect other people.
On environmental, social and governance, Daniel explained:
ESG is core to our business and means we help the environment where we can, support charities helping others and most importantly, ensuring our own internal governance reflects those beliefs. We profit share with all of our employees, and this encourages greater ownership of what we collectively stand for. Everyone at Q accountants will speak up if they have identified where we can improve internally, help a business or individual. This open dialogue between everyone helps keep us accountable and make greater impact on causes that our close to our hearts.
Overcoming the challenges of DEI and ESG
When it comes down to overcoming the challenges of DEI and ESG in the accounting industry, Daniel believes it starts with education. It could be educating people on exactly what DEI and ESG means, but also looking at the grass roots of accounting – the new generation training to become accountants.
Are there people who want to get into accounting, but haven’t necessarily followed the traditional path with their education? Encouraging people with different experiences and transferable skills that we can help grow and develop is only going to bring positive things to the industry
Final thoughts from Bright
From our first interaction with Q Accountants, it was clear to see how much DEI and ESG were engrained into the foundations of the accounting firm. At Bright, our hope for this case study was to shine light on a firm doing it right, to inspire other practices in the industry to kickstart and prioritise their own DEI and ESG initiatives.
From all of us at Bright, we would like to commend Q Accountants on their incredible work – you are the changemakers our world needs.
Final words from Q Accountants
ESG and DEI initiatives are often associated with big brand names, fostering a misconception that they require large resources and dedicated departments. However, we at Q Accountants believe in starting with small, impactful actions that can grow over time. What might seem minor for a firm can have a significant impact for a specific client or community. For example, if your firm has 50 clients, consider offering pro-bono services to a small charity, such as assisting with their accounts or digitising their bookkeeping processes. Partnering with organisations like Verdn to allocate a portion of your revenue towards environmental sustainability is another excellent way to contribute.
In terms of DEI, simple steps like offering internships or mentorship programmes for underrepresented groups in the accounting field can make a difference. These initiatives not only aid in diversifying the industry but also bring fresh perspectives and ideas to your firm, enhancing innovation and problem-solving.
Ultimately, embarking on DEI and ESG initiatives is not just about corporate responsibility or ticking boxes; it’s about genuinely investing in the betterment of society and the environment. Even small steps can lead to significant changes, setting a precedent in the industry and enhancing your firm’s reputation as a socially conscious and forward-thinking entity.”
Talk to our team
See how Bright can help your practice.
