BANKING AND FINANCE
WOMEN TAKE CHARGE
It’s a fruitful time to be a woman in the accounting industry, as more firms focus on cultivating leadership pathways and opportunities for growth
By ERIN THORBURN
F
or female certified public accountants, the field of accounting has become a proverbial thriving orchard. The market consists of mature, strong leadership that continues to grow and maintain incredible resiliency. What was once a male-dominated business sector is now a fruitful, ever-ripening industry for women. In fact, recent statistics demonstrate that women hold a 61.7 percent share of accounting and auditing jobs in the United States. Here, closer to home in Greater Phoenix, companies such as Wallace Plese + Dreher serve as a microcosm of women’s evolution in accounting. Of their 13 partners, five are women (all of whom were promoted in the last five years). Additionally, Wallace Plese + Dreher’s management team is comprised mostly of women. And they aren’t the only company to exhibit progress in this area. While women still face challenges in terms of gaining traction in the accounting industry (especially in more leadership-focused
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AB | July - August 2021
roles), they are steadily leveling the playing field, fostering new talent, and cultivating positive mentorship and co-working relationships. Diversifying the accounting industry The success of an orchard is largely dependent upon diversity. Science shows diversified home orchards are more pest-resistant and resilient than monoculture orchards. Accounting is no different. Diversity, as many industries have discovered, has the power to attract more clients, boost revenue and inspire confidence in new talent. “There’s no denying that women’s growth in accounting has been slow, but we are getting there,” says Bailey Tocco, managing director at CBIZ. “In male-dominated fields, we are now seeing more companies rebrand to entice women to want to grow into leadership roles.”
