A leading business group is warning that if companies fail to get more women onto their boards, the federal government might get offthe fence and intevene with quotas.

"If we're not able to see genuinely diverse boards, then governments are likely to take action," said Australian Institute of Company Directors (AICD) chairman Elizabeth Proust in an interview with the ABC's AM.

The AICD is seeking 30 percent female representation on the boards of ASX 200 companies before the end of 2018.  At the end of last year, there were 25.3 percent female directors.  But as of August, that had gone up by only a tenth of a percent, showing the effort has stagnated. 

The rationales Ms. Proust gets from Australian companies belong back in the unenlightened past.

"Some are almost representative of the dinosaur age where they say there are not enough qualified women or women aren't flexible enough," she said.  "We also hear that women have to look after the children - that's still being said in this day and age.  They're very average excuses, and they're just that - excuses."

Proust said she's not a fan of government quotas, but pressure from the business world might yield results.  The Australian Council of Superannuation Investors (ACSI) plans to use its voting power to warn boards to deliver on gender diversity promises:  "Every board is on notice that ACSI will be voting against directors' election, against remuneration reports, and I think that should be a significant wake-up call to boards."