Archive for the ‘ACCA’ Category

ACCA urges G20 to adopt global standards

Tuesday, March 10th, 2009

ACCA has launched a discussion paper calling for the members of the forthcoming G20 Summit, taking place in London on 2 April, to establish a new architecture for global financial and economic relations, saying that steps must be taken to improve the transparency and stability of financial markets.

‘The G20 have many problems to solve - how to cope with the increasing complexity of financial markets, how to strike a balance between financial innovation and the management of systemic risks, and what the role of global co-ordination of financial regulation should be,’ said Richard Aitken-Davies, ACCA president.

‘Specifically, the G20 need to endorse the benefits of International Financial Reporting Standards (IFRS) because they bring transparency, comparability and clarity to reporting in the interests of shareholders, business and the wider public. It is a major failing that IFRS are not already the global accounting language for all finance professionals.

ACCA polls members on Economic Confidence.

Tuesday, March 3rd, 2009

ACCA has launched a survey that considers the difficulties being faced by finance professionals, managers and business advisers during 2009.

Entitled the ACCA Economic Confidence Survey, ACCA members are encouraged to contribute their views on how the financial crisis has not only affected their own businesses but their clients’ too.

The findings will assist ACCA in determining how best to support its membership during the current economic climate as well as advise policy makers around the world.

The survey runs until 9 March 2009

ACCA is still fastest growing accountancy body.

Friday, February 27th, 2009

ACCA now has a total of 131,500 members, which represents a 7.3% increase on the 2007 figures. ACCA also has 362,000 students, 12.1% more than in 2007. Helen Brand, ACCA chief executive, said: ‘While 2008 was a good year in terms of growth for ACCA, we were focused on the global economic conditions and worked to ensure members, students and the public were well informed about the issues. As well as producing reports and discussion documents on the causes of the economic situation, we also launched a new microsite called The Global Economy. This provides access to a range of relevant resources, including ACCA’s technical thought leadership on the global economic conditions, and a range of useful support services.

‘ACCA remains committed to the many countries in which it has an active presence, with a view to the long term. We believe that the skills of accountants are vital to restoring confidence in the global economy, helping business to identify and manage drivers of cost and sustainable growth. Many of the countries we have been present in are on course to become significant players in the global economy in future years. We were especially proud in 2008 to be able to celebrate 20 years in China, as a partner to the accountancy profession as it has transformed itself to be an international force.

ACCA and IAAER sign global research deal

Tuesday, February 24th, 2009

ACCA and the International Association for Accounting Education and Research (IAAER) have signed a collaborative agreement to work together over the next three years to promote detailed research that will help to inform and influence the development of accounting and auditing standards.

The two leading global bodies will work together on high-level research initiatives that will contribute towards the debate on developing world-class standards of accounting practice - with a focus on encouraging research in the emerging economies.

ACCA and IAAER, which have previously collaborated on a number of successful projects, will be calling for research studies relating to standard-setters and organising research roundtable meetings.

ACCA claim growth in student exam numbers

Tuesday, February 24th, 2009

A record number of trainees took ACCA exams in December 2008 with 182,449 students taking 365,528 papers. This growth compares favourably with 164,646 candidates taking a total of 335,566 papers in June 2008.

The exam results, issued on 16 February 2009, revealed that 6,447 students successfully completed their final examinations to become ACCA affiliates. There was also an improvement in pass rates at the Professional level, which led to an overall increase in affiliates of 4.4% compared to June 2008.

Clare Minchington, ACCA’s executive director - learning and customer service, said: ‘This is the third sitting of the current syllabus, which was first examined in December 2007. The exams were well received by candidates, employers, and tuition providers.

‘By working closely with our partners and tuition providers, we strive to ensure that students have a 360 degree, global education to enable them to be tomorrow’s business leaders in a challenging global environment. Our “Train the Trainer” initiative, where we share best practice with those who teach accounting to ACCA students around the world, has helped students to reach for success.’

CIMA appoints Andrew Harding as Director

Friday, February 13th, 2009

CIMA is delighted to announce the appointment of Andrew Harding to its senior management team.

He will be based at CIMA’s global headquarters in London.

Andrew Harding, previously Managing Director at the Association of Chartered Certified Accountants (ACCA), will oversee CIMA’s new global strategy on alliances and partnerships.

Andrew built ACCA’s first business development team in the UK, and went on to lead successful market strategies in territories including Central and Eastern Europe, Vietnam, Southern Africa and China.

Charles Tilley, chief executive at CIMA, said:

“I am delighted to welcome Andrew to CIMA’s senior management team. I believe his extensive experience will underpin CIMA’s core activities and will beef up our drive for international growth in these challenging economic times. 2008 has seen us overtake the previous year’s student recruitment figures by 8% and with Andrew’s help we look forward to building upon this success in the future.”

Andrew Harding commented:

“I am very excited to be joining CIMA. It is the only accountancy body that focuses primarily on business needs, and one which I have long admired. I look forward to using my international knowledge and experience in driving CIMA’s global strategy forward.”

ACCA’s Dragon: SMEs are critical for UK

Wednesday, February 11th, 2009

Doug Richard, entrepreneur and former ‘Dragon’ from ‘Dragons’ Den’, attended ACCA’s (the Association of Chartered Certified Accountants) All Party Parliamentary Small Business Group (APPSBG) recently to discuss the ‘future of small businesses in the UK in the 21st Century’.

At the meeting, Mr Richard said SMEs can significantly help rescue the UK from its current recession. He argued that Britain must quickly become the entrepreneurial, innovative country it once was by encouraging self-employment.

Doug Richard described the two recent ‘lost generations’ – people in late 40s and 50s who have lost their jobs and may never find work again and people who are leaving university now and cannot find work.  He suggested that the solution lies in teaching the skills necessary to become self-employed, as SMEs are the engine of growth in economies.

Professor Francis Chittenden, of University of Manchester and ACCA’s professor of small business finance, agreed that the UK must restore its previous entrepreneurial attitude because there is an urgent need for innovative new businesses to replace traditional forms of employment.


ACCA grant for healthcare research

Monday, November 24th, 2008

ACCA’s Research Committee is to commission international, comparative research to help inform governments in meeting the policy challenges involved in improving health outcomes while containing costs.

As the global body for professional accountants, ACCA is seeking to develop an understanding of the future role of the accountancy profession in helping to meet these challenges.

Expressions of interest are sought from teams interested in undertaking a study relating to this broad theme. From these, a preferred bidder will be identified and invited to submit a full tender to undertake the study.

ACCA’s Research Committee is making £35,000 (or equivalent) available through this initiative to support both an internationally-focused research project and international travel for related dissemination activity.

The project is expected to begin in February 2009 and should meet the following requirements:

  • it has an international focus
  • it has policy relevance
  • it has the ability to produce recommendations for the accountancy profession
  • it will be completed within 12 months from February 2009
  • its output provides material and analysis capable of helping ACCA make informed policy recommendations to governments, policy makers and standard-setters, as well as the accountancy and finance profession as a whole.

ACCA claim CFO Euro summit success

Thursday, October 30th, 2008

Over 100 senior CFOs from Poland and the wider Central and Eastern Europe (CEE) region attended a prestigious and extremely successful conference held by ACCA in Warsaw on 17 October, claims an article on the ACCA website.

The inaugural CFO European Summit brought together CFOs in a wide variety of industry sectors from across the CEE region to discuss best practice, to network and share ideas on the role of the CFO in today’s challenging business environment. Panel sessions covered areas such as investor relations, human capital issues (the ’soft skills’ required by the modern CFO) and the strategic liquidity and investment management issues made particularly topical by the global credit crisis.

Guest speakers included Ludwik Sobolewski, president of the Warsaw Stock Exchange, who told delegates that the credit crunch required CFOs to continue to act responsibly, which was the key to avoiding future such crises. But he said that Poland was in relatively good condition, with no major structural problems and that it was a good time for Polish businesses to consider expansion, given the cheaper assets that might be available, in addition to continuing to manage their businesses with due regard to effective financial and cost management.

ACCA’s President visits Africa

Monday, October 20th, 2008

On the ACCA website it reveals:

ACCA’s Sustainability Reporting Awards programme, which recognises organisations for excellence and transparency in environmental, social and sustainability reporting, is to be launched in Zambia next year, Richard Aitken-Davies has announced during his first visit to Africa as ACCA President.

In an address to senior figures from Zambian business and government, Aitken-Davies spoke of the importance of promoting a culture of greater transparency, and commented on the perceived enthusiasm and open-mindedness of Zambian businesses towards the need for sustainability reporting.

‘I believe that by promoting the award to organisations in Zambia, and by working in partnership with other sustainability stakeholders here, we can make a real difference,’ said Aitken-Davies. ‘Educating, building awareness and, above all, securing the commitment of companies to raising standards.’