KUALA LUMPUR: A financial qualification or a background which demonstrates substantial financial acument are seen as catalysts for women getting onto the boards of FTSE 100 Index companies, said a report by the Association of Chartered Certified Accountants (ACCA).
The report, ‘Women in finance: A springboard to corporate board positions?’, said proportionally, women appeared to be more successful in attaining executive roles where they had a financial background.
In a statement yesterday, the ACCA said according to the report, about 45 per cent of female executive directors were financially qualified and 65 per cent in total have a financial background, while 26 per cent of their male colleagues were financially qualified and
44 per cent had a financial background.
“More than half of the new non-executive director appointments have a financial background,” it said.
ACCA chief executive, Helen Brand, said the report showed that more than half of the women appointed during this period had a functional background in finance and the proportion is even higher for female executive directors, at 65 per cent.
“What we have sought to understand to understand through this study is why the finance function is such a springboard for women. — Bernama
“We are seeing a time of change when it comes to women’s representation in the boardroom. In the UK, since the Davies Report of spring 2011, we have seen a five per cent increase, equal to the entire increase over the previous decade,” she said.
Country head of ACCA Malaysia, Jennifer Lopez, said the mandate for public-listed companies in Malaysia to have 30 per cent of women on their boards within five years became effective this year.
“With the current statistics at only seven per cent, we have a long way to go to achieve this.
“We hope that this new insight would help spring women into the Malaysian boardrooms, and finally balanced the gender inequality that has been persistent for decades,” she said. — Bernama