Women Lead Audit Committees in 13.3% of UAE Listed Firms

Women now chair 13.3% of audit committees across listed companies in the UAE, marking a significant stride in gender diversity within the country’s corporate governance landscape. This milestone, revealed through a report by Grant Thornton in collaboration with Heriot-Watt University, underscores the growing role of women in leadership positions in the business world. The research highlights not only the increase in female representation but also the positive influence of diverse leadership on company performance and governance standards.

The audit committee, often seen as the senior most committee on a corporate board, plays a crucial role in overseeing financial reporting, internal controls, and risk management. Its influence is particularly significant in maintaining transparency and accountability, which in turn bolsters investor confidence and trust in corporate governance. According to the report, women in these roles are enhancing organizational oversight and fostering better decision-making.

Grant Thornton's UAE CEO, Hisham Farouk, emphasized that this data provides an essential baseline to track the progress of gender diversity in audit committees. As part of their Discovery Series, the report is set to be an annual fixture to monitor developments in gender representation on these key boards. Farouk pointed out that this is an area of focus for the company, with the goal to encourage further progress both within Grant Thornton and the broader UAE business environment.

Further analysis reveals that women chairing audit committees in the UAE are playing a transformative role. Notably, Najla Al Midfa, the chair of the Audit Committee at United Arab Bank, highlighted that female leaders in these positions contribute to more rigorous risk management practices, enhance governance structures, and emphasize environmental, social, and governance (ESG) priorities. Such leadership is seen as vital for ensuring long-term organizational resilience, as diverse teams tend to be more adaptive and capable of navigating the complexities of a rapidly evolving market.

The report also underscores the broader implications of these findings for gender equality in the region. While the 13.3% figure marks a key milestone, it also signals that there is still substantial room for growth in this area. The continuing efforts to increase female representation on boards are aligned with broader national goals for gender inclusivity in the workplace. With ongoing research and data collection through the Grant Thornton series, the UAE is positioned to benchmark its progress against other global markets and maintain momentum in closing gender gaps in corporate governance.

This development reflects a larger trend in the Middle East, where gender diversity in business leadership roles is increasingly gaining attention. While the UAE has made notable strides, particularly in the public and private sectors, the push for equality continues to be a focal point in corporate strategy discussions. Companies in the UAE are recognizing that a more diverse leadership not only meets social responsibility goals but also leads to stronger corporate performance. Studies have consistently shown that diverse boards are more innovative and make more balanced, well-rounded decisions, which is crucial for navigating the complexities of today’s global business environment.

Experts believe that the steady rise in female audit committee chairs will have long-term benefits for the UAE’s corporate sector. With women bringing fresh perspectives to risk management and governance, companies are better prepared to tackle emerging challenges, including those related to digital transformation, sustainability, and global economic fluctuations.

Despite this positive momentum, challenges remain. Gender parity at the highest levels of corporate governance is still a work in progress, with women in the UAE and across the region continuing to face barriers related to societal norms, career advancement opportunities, and unconscious bias. These issues are slowly being addressed through policy initiatives and corporate commitments, as more organizations recognize the strategic value of gender diversity.

The UAE government has played an instrumental role in creating an environment conducive to gender equality in the workplace. Legislative reforms aimed at empowering women and encouraging their participation in leadership roles have contributed to this shift. Additionally, initiatives such as the gender balance councils and various international partnerships are helping to ensure that women’s representation at senior levels continues to grow.