Corporate Australia has fallen marginally short of proposed 2015 targets to have women on ASX200 boards, with females accounting for 29.7% of board members.

Angus Armour, from the Australian Institute of Company Directors, said companies have heard the message about the value of gender diversity in boardrooms, and this was proof that boards are looking beyond the existing talent pool.

There is still work to be done however, with four companies yet to have any women on boards, and cultural diversity still a major issue.