If the words diversity, equity and inclusion were not already in senior executives’ minds, Nasdaq’s December 2020 proposal that firms would need to disclose hard figures about their board composition to the market will have changed that. Subject to SEC approval, the tech- focused exchange will require listed firms to have a minimum of one-woman director, and one person who is from a minority, or LGBTQ background, on their boards. Companies which can’t meet this requirement will need to explain why. Diversity needs to be discussed across the whole of businesses because its benefits will impact all company functions. In September 2020, industry standard setters, the Institute of Internal Auditors of North America, put out a statement saying that internal audit functions have to “embed social equity and corporate social responsibility” in their strategy and culture. If they are not already looking at these issues now would be an excellent time to start.