In a historic move for its 179-year existence, Deloitte has appointed its first female leader for the audit and assurance division.

Effective January 1, Allee Bonnard will succeed Paul Stephenson, who has been at the helm of Deloitte’s audit and assurance operations for the past four years.

Deloitte’s history dates back to 1845 when William Welch Deloitte founded the accountancy firm in London. Bonnard’s appointment marks a significant milestone as she becomes the first woman to lead the UK group’s auditing efforts.

Bonnard, 47, expressed her pride, stating, “I am hugely proud to be the first female leader of Deloitte’s UK audit and assurance business. While we have made meaningful progress toward gender equality, more work remains to ensure that all of our diverse talent can flourish.”

Deloitte, like its competitors, is committed to enhancing female representation in senior roles. Women represent nearly half of the Big Four’s overall workforce, yet they occupy under a third of partner positions, although this figure is on the rise.

Just five years ago, only 9 percent of the FTSE 100 accounts audited by Deloitte were signed off by female auditors. However, the firm anticipates that female partners will lead audit engagements for half of its blue-chip clients in the coming year.

Earlier this year, EY appointed Anna Anthony as the first woman to supervise day-to-day operations in the UK, setting a precedent among the Big Four firms.

Bonnard, a dedicated member of Deloitte, began her career at the firm’s New York office after graduating from the University of Florida. Initially intended as a two-year assignment, her stint in London has extended since 2005, where she currently leads Deloitte’s financial services audit practice.

Paul Stephenson, 55, will now oversee Deloitte’s audit operations across Europe. Richard Houston, CEO of Deloitte UK and Deloitte North and South Europe, noted that the UK audit division has thrived during Stephenson’s leadership.

Houston further added that Bonnard possesses a “strong track record as both a leader and an audit professional at the firm. I am confident that she will be a fantastic addition to our UK executive team.”