Accountancy firms lag behind legal firms in gender equality at top level
The UK accountancy sector is lagging in diversifying its leadership, with only half of firms having at least one woman at the board or partnership level.
According to data exclusively shared with City AM by Lubbock Fine, UK accountancy firms are lagging behind legal firms in the proportion of women at the senior level.
The data revealed that, of the 220 accountancy firms analysed, 50 per cent had at least one woman at the board or partnership level, compared with 71 per cent of the 258 law firms analysed.
Hazra Patel, partner at Lubbock Fine, stated, “The findings suggest accountancy firms still have a lot to do to improve female representation in senior leadership roles.”
Regulators in the sector, such as the Financial Reporting Council (FRC) and ICAEW, have said that companies with women in top leadership have a better workplace culture and financial performance.
Stephanie Turner, partner at Lubbock Fine, noted, “Bringing more women into board-level roles is challenging as it takes time and investment, but it pays off. Firms with diverse leadership have stronger cultures and perform more effectively.”
Turner and Patel noted policies that help this shift, including enhanced maternity leave, a structured return-to-work support, and transparent promotion criteria.
Deeper look at law
However, it is not all rosy in the legal sector.
The Lubbock Fine data highlighted the presence of at least one woman at the senior level. However, women make up the majority of the legal sector, but that number is much smaller at the most senior levels within law firms.
According to data from the Solicitors Regulatory Authority (SRA), 32 per cent of full-equity partners at regulated law firms across England and Wales are women, despite 53 per cent of the firms’ headcount being women.