Women in accounting: Continuing to break the glass ceiling

The accounting profession is continually evolving, and women have a big role to play in leading and strengthening the profession. So, on International Women's Day 2023 we thought we should celebrate the achievements of women in accounting and the fantastic work they are doing to help push the industry forward.

Women in accounting are going above and beyond to help break some of the biases that still exist in the industry – through collaboration, mentorship and supporting female entrepreneurship.

The gender pay gap has been declining slowly over time and more women in the profession are on the path to senior roles than ever before. But is it enough?

With the top 20 accountancy firms in the UK having an average pay gap of 15-20% - in favour of men, it shows there's still more work to be done. The Accountancy Age "Top 50+50" survey found that while nearly half of all qualified accountants were female (45.47%), just one-fifth of senior roles within the sector was occupied by women.

There's an appetite for those numbers to change because accountancy is clearly no longer just about numbers – it's about the unique value each employee brings. Various international governing bodies recognise this and have implemented programmes to promote high achieving talent regardless of sex.

Companies are also making arrangements for employee maternity, paternity, and dependence leaves, as well as continuing to alter their retention and recruitment tactics against the backdrop of intense financialisaton. Let's look at the first woman who broke down doors so future generations could step through them. Mary Harris Smith.

Smith made history in 1920 when she became the first female certified accountant in the world. Even though she had her own accounting practice for many years, she didn't become a chartered accountant until she was 75.

She repeatedly applied for fellowship at the Institute of Chartered Accountants in England and Wales (ICAEW) throughout her life, despite the organisation's former president stating in the late 1800s that he'd rather retire than allow a woman to join. Smith was able to join ICAEW, declaring "admission equal, and status equal with male members," only after the UK passed a law permitting women to work professionally. It was an inspiring and empowering moment for women looking to progress their careers.

We need to celebrate women and their achievements more, and in November 2022 it was great to see The Women in Finance Awards UK 2022 highlight the remarkable work of women who are carving their paths in the traditionally white, male, and socially privileged sector. The Woman of the Year Award went to Helen Bierton, chief banking office at Starling bank who said on receiving her award "I grew up in the 80s when we had a woman on the throne and a woman as prime minister. And that was inspiring, and I never believed in glass ceilings or challenges for women to achieve whatever they wanted to achieve." Helen stood alongside 16 other trailblazing women who won awards for their achievements in the accounting and finance industry.

As an industry we need to get more women in leadership to model behaviours and allow people to reach their personal goals and aspirations and to provide examples of what a true inclusive and diverse workforce looks like. When we provide equal opportunities to women in traditionally male-dominated spaces, it benefits everyone, and helps to strengthen and evolve the industry in a positive direction.