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The Association of Latino Professionals for America is

a vehicle for social change and a networking forum for

Latino students, professionals, and businesses.

By Sydnee C. Manley, Ph.D., and Dale L. Flesher, Ph.D.

mericans with roots in Spanish-speaking Recruitment and mentorship
regions such as Mexico, Puerto Rico, and
and one of the fastest-growing ethnic groups in the are crucial to raise Latino
ACuba not only make up the second-largest
United States, but they are also looking to expand
their footprint in accounting and finance. representation in accounting
Latino accounting and finance profession-
als have come a long way since 19 Latino CPAs and finance jobs.
formed a professional accounting organization in
1972, now known as the Association of Latino
Professionals for America (ALPFA).
Celebrating its 50th anniversary, ALPFA today Spanish-speaking minority-owned businesses that
is one of the largest minority-based business and generated about $3.3 billion in revenue. About the
accounting organizations. The organization’s history Vasquez, who became an AICPA member in authors
goes back to Gilbert R. Vasquez and 18 other La- 1970 and later chaired the AICPA’s Minority
Sydnee C. Manley,
tino CPAs pooling their resources to increase La- Recruitment and Equal Opportunity Committee,
Ph.D., is an
tino representation in the AICPA. Today, ALPFA said he was able to identify 16 Latino CPA firms
assistant professor
has more than 95,000 student and professional among those Spanish-speaking minority-owned
of accounting at
members. (See the sidebar, “ALPFA Milestones.”) businesses. These firms were in Arizona, California,
Providence College
In addition to being a vehicle of social change Louisiana, New Mexico, Texas, and Utah.
in Providence, R.I.
within the accounting and finance community, He then organized and incorporated an
Dale L. Flesher,
ALPFA has become a networking forum for Latino organization called the American Association of
Ph.D., is Associate
students, professionals, and businesses through its Spanish Speaking Certified Public Accountants
Dean Emeritus
membership and annual conventions. (AASSCPA) at his own expense, he said. When he
of accounting at
Fifty years ago, the founders came together with received funding from the Commerce Department,
the University
aspirations to compete for government contracts, he used the OMBE grant for the newly formed
of Mississippi in
encourage other Latinos to pursue accounting ca- organization. In honor of his efforts, Vasquez
Oxford, Miss.
reers, and make significant and progressive changes received a certificate in 1977 naming him the
in a field where they had little representation. They AASSCPA’s Charter Member No. 1 and a plaque
did not realize their actions would have a lasting naming him founder.
and powerful influence on the Latino business At the AASSCPA’s first, informal meeting in
community. September 1972, Gustavo Gonzalez, one of the
19 founding members, said he made a motion to
HOW IT ALL BEGAN only do business with Spanish-speaking people, but
In 1969, President Richard Nixon established the Vasquez successfully argued for the use of English.
Office of Minority Business Enterprise (OMBE), The organization initially was considered a
now the Minority Business Development Agency, Latino CPA trade organization and recruited only
as part of the U.S. Department of Commerce. At Hispanic CPAs who were partners in their own
the time, about 322,000 businesses generating firms — a condition of the OMBE grant. Once
$10.6 billion in revenue were minority-owned. the grant ran out, the AASSCPA allowed all CPAs
Nearly one-third (about 100,000) of them were with a Hispanic surname to join.

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