International Women’s Day

On this International Women’s Day, I am still one of only a few women who lead professional bodies. Women comprise 10% of the CEOs of Fortune 500 companies. It’s an increase from previous years, but it is far from representing all the talent, skill and potential women offer. This year’s theme of IWD is #EmbraceEquity, and it's important to understand the difference between?equity?and?equality.

The aim of the IWD 2023?#EmbraceEquity?campaign is to start a global conversation about?Why equal opportunities aren't enough.?People start from different places, so true inclusion and belonging require equitable action.

ACCA was founded in 1904 to help create the opportunity for a useful and interesting career for people excluded from professional life. That included women. We were the first professional accountancy body in the world to admit women, and our first female member was Ethel Ayres Purdie. I think she understood the meaning of #equity back then.

For us, Ethel Purdie represents far more than a footnote in a history book. Our history shapes our present, and it guides our future. We remember Ethel, in particular, every March, on International Women’s Day, when we dedicate special events to her memory. That is a living legacy, and it shows that ACCA always has, and will always, promote the values of fairness and gender equality. That’s why it is no surprise that women feel they belong with ACCA. It is also why it’s no surprise that 24 of the 41 members of ACCA’s global governing Council – 59% - are women and that five of our seven-strong executive team are women.

Our Women in Finance initiative, launched in 2021, is a true example of equity in action. The program specifically aims to support women at every stage of their careers and addresses challenges and obstacles unique to women. We extend networking opportunities for women, mentoring, coaching and access to additional information.

One of the most significant obstacles we face is the gap between senior women in non-board positions and director roles. This hurdle remains, even in countries where women are highly educated, possessing top-tier degrees, double masters, and PhDs. Despite climbing the corporate ladder, women often find the final rung missing.

In my opinion, the key to bridging this gap lies in the company culture. Businesses must recognize that appointing more women to the board is not just a 'nice-to-have' or a token statistic for the annual report or PR stunts. It is 'essential' for any organization seeking a sustainable future that reflects the lives and aspirations of its customers, shareholders, and employees.

I believe changing the culture and attitudes towards women's leadership is crucial to improving their prospects of reaching the boardroom. The next generation's landscape will change as businesses realize they cannot afford to overlook half of the world's population if they want to thrive.