Jaraa'idJaraa'id
Notification Show More
Latest News
Law versus man: Trump’s courtroom drama begins
Business
Mark Selby withstands Ryan Day charge to set up clash with Shaun Murphy in semi-finals of Tour Championship
Sports
Trump can still run for president in 2024 after being indicted
United States
South Africa surprises with bigger rate hike than forecast
Africa
UK strikes agreement to join Asia-Pacific trade bloc
Business
Aa
  • Home
  • Local News
  • Africa
  • United States
  • Europe
  • Asia
  • Sports
  • Videos
  • Live Score
  • More
    • Business
    • Market Data
      • Stocks
      • Commodities
      • Cryptocurrency
      • Forex
    • Weather
Reading: PwC and KPMG fall behind in promoting women to run major audit work
Share
Aa
Jaraa'idJaraa'id
  • Somalia
  • Africa
  • United States
  • Europe
  • Asia
  • Business
  • Sports
  • Videos
Search
  • Home
  • Local News
  • Videos
  • World
    • Africa
    • United States
    • Europe
    • Asia
  • Market Data
    • Stocks
    • Commodities
    • Cryptocurrency
    • Forex
  • More
    • Sports
    • Business
    • Weather
    • Live Score
Have an existing account? Sign In
Follow US
Jaraa'id > Business > PwC and KPMG fall behind in promoting women to run major audit work
Business

PwC and KPMG fall behind in promoting women to run major audit work

News Room
Last updated: 2023/03/07 at 7:56 PM
News Room Published March 7, 2023
Share
SHARE

PwC and KPMG are falling behind rivals EY and Deloitte in promoting women to run the most prestigious audits in corporate America, new data shows.

Women still only account for 20 per cent of the lead engagement partners on audits of S&P 500 companies, according to a study published on Tuesday by the CFA Institute, the professional body for the investment industry.

The figure, covering audits from 2021, represented an improvement from 15 per cent four years earlier but showed the need for faster progress at some firms in particular, said Sandy Peters, head of global advocacy at the institute.

“Half of those entering the accounting profession are women,” Peters wrote in the study. “The issue in Big Four firms is leakage from the pipeline. Within 10 to 15 years — the time it takes to become a partner — the near-majority of women in accounting turns into a minority.”

Women run more major audits at each of the firms than they did four years earlier, and the number of S&P 500 companies with female lead engagement partners rose from 73 to 102 in total, the CFA Institute found.

Deloitte led the Big Four with women making up 27 per cent of its S&P 500 lead engagement partners. Meanwhile EY showed the largest increase — from 13 per cent in 2017 to 22 per cent in 2021.

KPMG remained in fourth place with 13 per cent of their S&P 500 engagement partners. The pace of growth was slowest at PwC, which slipped to third place with 19 per cent.

KPMG said it had mentorship and development programmes specifically to help women advance to lead engagement partner, and the CFA Institute study ignores its broader progress.

“This one metric obscures our progress in advancing women in leadership across our business,” KPMG said. “In audit, we have increased the number of female partners by more than 10 per cent since 2019 with women in more than 30 per cent of leadership positions today.”

PwC said it was working to increase the diversity of partners running significant client relationships, in audit and elsewhere in the firm. “While we are not where we want to be, we are proud of the progress we’ve made,” the firm said.

Peters, herself a former audit partner at KPMG, said that the Big Four offered “a good training ground” for future company chief financial officers, controllers and audit committee members, so improvements there could contribute to gender progress in the boardroom.

“Lead engagement partners participate in audit committees of the board each quarter and interact with upper management,” she wrote. “If diversity of decision making is important to investors in the boardroom, auditors are just an extension of that interest.”

Read the full article here

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room March 7, 2023
Share this Article
Facebook Twitter Email Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular News
Business

Law versus man: Trump’s courtroom drama begins

News Room News Room March 31, 2023
Mark Selby withstands Ryan Day charge to set up clash with Shaun Murphy in semi-finals of Tour Championship
Trump can still run for president in 2024 after being indicted
South Africa surprises with bigger rate hike than forecast
UK strikes agreement to join Asia-Pacific trade bloc
Rafael Nadal eyes injury comeback in time to bid for 15th Roland-Garros title – ‘I’ll try to be competitive’
Republican rivals, leaders rally around Donald Trump after indictment
Disney’s Florida surprise: an end run around DeSantis
- Advertisement -
Ad imageAd image

You Might also Like

Business

Law versus man: Trump’s courtroom drama begins

March 31, 2023
Business

UK strikes agreement to join Asia-Pacific trade bloc

March 31, 2023
Business

Prepare for a multipolar currency world

March 31, 2023
Business

China envoy warns EU of ‘peril’ from following US on trade curbs

March 30, 2023
  • Somalia
  • Africa
  • United States
  • Europe
  • Asia
  • Cryptocurrency
  • Forex
  • Stock Market

About US

Jaraa'id is your one-stop website for the latest global and local news and updates, follow us now to get the news that matters to you.
Quick Link
  • Privacy Policy
  • Terms of use
  • Press ReleaseSubmit
  • Advertise
  • Contact
Top Sections
  • Business
  • Sports
  • Videos
  • Market DataLive
  • Weather

Subscribe US

Subscribe to our newsletter to get our Latest articles instantly!

I have read and agree to the terms & conditions

2023 © Jaraa'id. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?