5 minute read A man waves an LGBT equality rainbow flag at a celebration rally in West Hollywood, California, June 26, 2015. REUTERS/Lucy Nicholson As financial storytellers of companiesâ performance and operations, accountants are critical in reporting mandatory annual data via the Employment Information Report (EEO-1), which requires private sector employers with 100 or more employees, and federal contractors with 50 or more employees meeting certain criteria, to submit demographic workforce data, including data by race, ethnicity, sex, and job categories. This form, which is submitted to the U.S. Equal Employment Opportunity Commission (EEOC), serves as the foundation for the governmentâs understanding of pay gaps and representation of underrepresented communities among U.S. employers.