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A diversity assessment measures an organization’s progress in increasing diversity and inclusiveness. As part of a larger study, this paper examines and analyses the application of the Diversity Audit Tool (DAT) to the Canadian Financial Services sector to the status of women’s representation within the workforce. The DAT assesses policies and practices to increase diversity and inclusiveness not only on human resource functions but also how diversity can be integrated throughout the organization’s value chain. As an exceptionally adaptable and flexible tool, the DAT has been previously applied to education, health care, police services, and information and communications technology (ICT) sectors; it is generalizable enough to examine diversity initiatives across a number of groups as well as to focus on a single one, as it does in this study.