Professional Documents
Culture Documents
Richard Aitken-Davies
President
While 2008 was a good year in terms of growth for The past year has been a momentous one
for ACCA.
A particular highlight for me was our
celebration of 20 years of the modern
ACCA, we were focused on the global economic As your president, it has been a privilege to
accountancy profession in China, under the
theme of Partners in Progress. Our events to
conditions and worked to ensure members, students see first-hand how the global community of
ACCA members and students has risen to new
mark this milestone underlined the significant
role ACCA has played in the profession’s
and the public were well informed about the issues. challenges, seized opportunities and celebrated
our successes.
development and paid tribute to the impressive
progress made by the Chinese profession.
Clearly, the biggest challenge has been the In 2008, Allen Blewitt stepped down as chief
ACCA remains committed to the many countries unfolding of the current global economic
situation. We have seen its impact spread to
executive, after five successful years at the
helm. Allen’s successor, Helen Brand, was
in which it has an active presence, with a view to all the regions and employment sectors in
which members and students live and work.
appointed from within ACCA, after a competitive
recruitment process – an endorsement of ACCA’s
the long term. We believe that the skills of ACCA recognises its responsibility to support
excellent succession planning. I am confident
Helen will lead ACCA to even greater things
accountants are vital to restoring confidence in the members and students. We are committed to
providing appropriate advice and guidance and
with her strong commitment to shape the
organisation to meet the challenges ahead
global economy, helping business to identify and ensuring you are in the best position to help the
businesses which depend on your expertise and
and to deliver our ambitious strategy.
50
position in the market, growth in member sustainability.
98% 58 82
numbers, financial performance, perception
%
104.08m
measures by core stakeholders, and
indicators relating to effective delivery
of a global organisation. believe ACCA is a global offices and centres in £
69
awareness among thought leader in the operating revenue
£3.4 m
employers sampled profession
markets where ACCA is the
international leader by size
countries
operating surplus
73% of members
Member growth Relevant qualifications and support Effective global delivery
There was a total increase of 8,972 members 69% of stakeholders believe ACCA offers ACCA employees have a clear understanding
131,398 98% 57
8,424 Approved Employers 360
exam centres
total members members carrying out CPD
global accountancy
partnerships
193
Approved Learning
Partners
2 3
70%
in accounting to promote transparency and YOUR COMPANY? supporting small businesses and their advisors
facilitate effective international business. ACCA was a prominent commentator on the root around the world by promoting their value to
It adopted a global theme in 2008 – global causes of the credit crisis which foreshadowed the economy, investing in targeted services and
standards: the business benefits. this. ACCA’s policy paper – Climbing out of lobbying on policy issues of particular relevance
the Credit Crunch – was launched in October to this important sector. Additional priority has
Given the large investment in developing and argued that a primary cause of the credit been given to the needs of small business in 2008
international standards and their increasing crunch was poor corporate governance and risk in response to the economic crisis.
adoption, ACCA aimed to assess their benefits management in the banking sector, a theme
to business and other stakeholders at a critical Yes, global financial standards are good, echoed by commentators and policy-makers In 2008, ACCA collaborated with small business
point, through global consultation, research and or will be good, for our company around the world. associations in Jamaica, Singapore, Trinidad and
debate. The theme became especially topical in Tobago, and Zambia. In Malaysia, a conference
67%
the light of the debate on fair value accounting The paper was promoted at UK party political on the globalisation of SMEs attracted over
and its role in the global economic crisis. ACCA conferences, and gained widespread media 300 participants.
supported fair value, while welcoming moves coverage, leading to considerable profile with
by the IASB to ease measurement under certain governments, business and media stakeholders A range of new ACCA initiatives were developed
circumstances. across the world. ACCA’s leadership role in over the year. In the UK, an SMP microsite
addressing the situation was widely recognised, was created as a one-stop shop for small
Many events were held on the theme, featuring Respondents who think the main current not least in ACCA’s president being asked to practitioners, receiving some 20,000 visits in the
high-profile speakers. This included conferences purpose of financial standards is reporting present views on the banking crisis to the leaders first few weeks after its launch. In Mauritius, a
across North America and ACCA’s first ever CFO and compliance of the global accountancy profession at the new SME/SMP sub-committee was established.
conference in Poland. New partnerships were International Federation of Accountants (IFAC) New publications launched included an English/
60%
formed in Latin America as the region moves Council meeting in November. Urdu guide to bookkeeping and taxation for
towards the adoption of international standards. SMEs in Pakistan and an easy guide to Malaysian
ACCA also collaborated with CFO Research ACCA collaborated with partners such as the tax, developed in partnership with Baker Tilly.
Services on an ambitious research project, based Securities & Investment Institute and the Global
on the views of nearly 800 CFOs in the US, Association of Risk Professionals on events Towards the end of the year, the European
Europe, China and South East Asia. The resulting exploring the crisis and participated in economic Parliament and European Council held several
reports revealed solid support for international Respondents who believe reporting should summits organised by the Scottish Parliament key debates on issues relating to SMEs,
reporting standards. be principally a communication tool or aid and the Welsh Assembly in the UK. specifically removing the obligation for micro
to investment decision making entities to submit accounts. ACCA monitored
Research and opinion on emerging issues in developments closely and was a leading voice
the field from ACCA’s technical experts and in representing the interests of the small
other industry commentators may be found business sector at each stage of the debate,
at www.accaglobal.com/global_standards. % dealing directly with MEPs, Commission
officials and co-ordinating responses with
the pan-European profession.
www.accaglobal.com/economy
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CHINA 20
committing to future partnership
1. 2. 3.
6 7
3 4 4
1.
1 1 3 1
3 1 1
As ACCA continues to grow, it is important 1 3
that its operations are optimised to meet the 1 2 3 1 3 4
needs of employers and an increasing number 1 2
of members, students and other stakeholders. 1
1 3
Following her appointment as chief executive 4
in September, Helen Brand commenced a
wide-ranging programme of work to ensure
that ACCA has the right infrastructure and skills
base to operate in a complex and demanding
ACCA continues to excel in developing a Zambia – in addition to existing arrangements
global business environment. A focus for the
formal network of partnerships which add in Botswana, Cyprus, and Kenya. Audit quality
programme is making ACCA work for the 2.
value to its members by bringing local assurance reviews were also carried out by
customer, building processes and operations
recognition, expanded services and enhanced ACCA on behalf of the Dubai Financial
around their needs.
employment opportunities. Through Services Authority
collaboration, ACCA is able to deliver on its
As part of this exercise, ACCA has commenced
promise to offer opportunity around the world 4 investing in its own infrastructure, opening new
a thorough review of the student and member
to people of talent and application. offices in China (Chengdu and Shenzhen) and
customer experience, from initial enquiry
Malawi in 2008, and strengthening its operations
through to examination registration, to
In 2008, ACCA further extended its global reach by: in South Africa.
post-membership support.
1 renewing 11 of its 18 Joint Examination Schemes Of central importance, ACCA continues to foster
Helen Brand says: ‘My first priority is to ensure
– in Barbados, Botswana, Cambodia, Guyana close relationships with employers of professional
that ACCA is fit for the future, with capacity to
(which was also expanded to include the CAT accountants. In 2008, professional skills courses
respond to market conditions and the changing
qualification), Jamaica, Lesotho, Malawi, Sierra were deIivered to leading employers around the
needs of the profession, capable of delivering a
3. Leone, Swaziland, Vietnam and Zambia world including Barclays plc, BDO Stoy Hayward,
service which consistently meets our customers’
China Mobile Limited, Deloitte Touche Tohmatsu,
high expectations. This includes ensuring ACCA
2 formalising CPD partnerships in Botswana, GE, HSBC and Standard Chartered. In the UK,
offers value as a global organisation and puts
1. Speakers at ACCA’s 4th annual Welsh Health Moldova and Zambia ACCA’s graduate partners scheme demonstrated
the needs of employers at the heart of its
Conference continuing success with the addition to the
strategy. By meeting the needs of employers,
we are able to enhance the employability and 3 c ontinuing to grow the number of organisations programme of Heinz, Co-op Financial Services,
2. A meeting of ACCA members who are it partners with to carry out practice monitoring RBS, Scottish Widows and Shell. In addition, ACCA’s
career prospects of our members, and ultimately representatives on IFAC’s boards and committees reviews under contract. In 2008, new highly-regarded human capital forums provided
drive higher value for the global membership.‘
3. ACCA Pakistan receives a brand of the year award agreements were signed in Barbados, Guyana, learning and development insights to employers
from the Prime Minister of Pakistan Lesotho, Malawi, Trinidad and Tobago, and across 20 countries.
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