Simone Palfreyman was named Accountant of the Year at the awards, which celebrate the skills, leadership and tenacity of women in the finance industry, and showcase how the top female professionals have shaped and influenced financial services in Australia.

Ms Palfreyman, the principal of Cessnock firm Palfreyman Chartered Accountants, said winning the award was the highlight of her career.

"It reflects how great my team is, how supportive my family are and what wonderful clients we have," she said.

"It is a reflection of how hard we work for our clients and how high our quality of work is."

Ms Palfreyman said it was a "massive achievement" for a regional firm to win this award, which is considered to be the most prestigious female accounting award in Australia.

"It highlights the quality of businesses we have in Cessnock," she said.

"The team at Palfreyman Chartered Accountants truly believes that Cessnock offers some of the best services in Australia, and hope that being recognised in this award helps put the town on the professional map.

"We definitely believe that every business owner should dream big, work hard and treat every setback as a challenge.

"By being resilient, positive and embracing change it is possible to achieve nearly anything."

It is the second time in recent years Ms Palfreyman has been recognised at the Women in Finance awards, after being a finalist in the same category in 2017.

She also took out the Business Woman of the Year trophy at the 2018 Hunter Region Business Excellence Awards.