Thursday 20 September 2012 - ACCA

52 Pages·2012·0.57 MB·English

Thursday 20 September 2012
AGM location
Holborn ACCA
Underground 29 Lincoln’s
Station Inn Fields
Covent Garden Temple
Underground Underground
Station Station
22
Contents
5 A LETTER FROM THE ACCA PRESIDENT
8 kEy ACHIEvEMENTS IN 2011–12
12 STRATEGIC PERFORMANCE 2011–12
15 ACCA NOTICE OF MEETING
16 ACCA SUMMARy FINANCIAL STATEMENTS
25 MEMBERSHIP OF COUNCIL AT 31 MARCH 2012
27 COUNCIL MEMBERS’ MEETING ATTENDANCE 2011–12
28 STATEMENT ON ELECTIONS TO COUNCIL
29 ELECTION ADDRESSES
42 THE BENEvOLENT FUND NOTICE OF MEETING
43 THE BENEvOLENT FUND SUMMARy FINANCIAL STATEMENTS
48 CCABF
33
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A letter from the ACCA president
Dear member
It has been a privilege to serve as
ACCA’s president during 2011–12
– a year which has seen significant
advances in the way ACCA operates
in order to deliver even greater value
to its stakeholders. It is also a year
in which we have seen significant
public debates on the role of the global
profession, especially on regulation.

An AgendA oF gLobAL
reLevAnCe
ACCA continues to pursue an agenda
of change within the global profession
To inform this work, Council was
to ensure that it offers an accessible
pleased to see that in 2011, we
and relevant career to a diverse range of
launched new Global Forums to
people and brings value to business and
provide global input to ACCA’s
the wider public. Over the past year,
wide-ranging technical agenda. The
ACCA has continued to make important
Global Forums bring together leading
contributions to the public debate on
employers, members and other subject
regulation – calling for a more joined-
matter experts from 30 countries to
up approach which, while protecting
help shape and inform our policy and
the public, works for business and
to ensure it brings an international
enhances investor confidence. We have
perspective drawn from best practice
also highlighted the continuing needs
around the world.
of accountants in business – both large
and small – and the transformation we
gLobAL presenCe
see going on in finance functions around
the world to meet demanding business Through the process of stakeholder
environments. And we have continued engagement we have undertaken in
to look at ways in which governments relation to our reporting, the issue
can strengthen accountability through of most relevance and importance
the work of the public sector. is ACCA’s global presence. This

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resonates especially strongly with our ACCA has also joined the IIRC’s
members. Wherever members are official pilot programme, a group of
based, they see the value of, and have organisations which are committed
.considerable pride in, ACCA’s global to the integrated reporting agenda.
reach and influence. The value this Council is pleased to see that this
delivers to individuals, businesses year’s annual report has been
and economies around the world is developed as an integrated one and
undeniable and, during my presidency, that ACCA is therefore at the forefront
I have had the privilege of being able of organisations making this step.
to witness this first-hand. We certainly aim to learn from the

process and use it as an approach to
In the past year, ACCA has
strengthen our integration and strategic
strengthened its international network
oversight within the organisation.
with new appointments in key markets

and important new and renewed
By moving towards a more integrated
global accountancy partnerships. By
form of reporting, we are sharing
progressively centralising transactional
fuller and more relevant information
contact for members and students,
on the progress made towards ACCA’s
ACCA is also enabling its unrivalled
strategic vision, in the interests of
network of offices around the world
transparency and good practice. It
to focus exclusively on bespoke,
is an approach that both highlights
value-adding work which will advance
ACCA’s achievements and is more
ACCA’s reputation and influence
explicit about what ACCA will focus
nationally and regionally.
on in the future in order to deliver

its strategy to 2015. It is also an
greAter trAnspArenCy
approach which aims to report
Another advance this year is the on what is most important to our
approach ACCA is taking to reporting stakeholders – not least our members
on its annual performance. ACCA and future members.
has been involved in the work of the
International Integrated Reporting I hope what has been achieved this
Council (IIRC) since its inception and year illustrates the commitment
welcomed its potential to strengthen Council and ACCA’s executive
the relevance of corporate reporting to team have to ensuring that ACCA
investors and other stakeholders. is recognised as the leading global

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professional accountancy body in
reputation, influence and size, and the
demonstrable progress made towards
this over the past year.

I would like to thank my Council
colleagues and ACCA’s employees
for their passion, hard work and
commitment to delivering what is
an ambitious vision for the future. I
also thank our members for the part
they play, every day, right around
the world, in making economies and
businesses fitter and stronger, and
for their continued support of their
professional body.

dean Westcott
ACCA president
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Key achievements in 2011–12
ACCA’s key achievements for the • enhancing our public voice
year are summarised below. We
We increased our reputation as
have focused on our performance
a body advocating global policy
against our measures for the 2015
positions which promote public
strategy, through which ACCA aims to
value, according to an independent
become the leading global professional
survey of employers of accountants.
accountancy body in reputation,
This is important at a time of
influence and size. We give particular
enhanced scrutiny of the profession
attention to areas found to be of
from key regulators and policy
importance to stakeholders, including
makers around the world. ACCA is
members, identified through our
responding by calling for standards
materiality analysis which has formed
to be developed which protect the
a central part of the development of
public interest, work for business
our first integrated annual report.
and enhance investor confidence.
• 154,337 members and 432,396
• Launching our 10 new global
students globally
Forums to give us relevant, global
Our growth is up from 147,265 input into our technical agenda
members in 2010–11 (4.8%
In September 2011, we reinvigorated
growth) and 423,935 students
our research and technical agenda
(2.0% growth) in 2010–11.
with the creation of new, international
forums, bringing together expertise
• 98.5% member retention
from all sectors around the world
We exceeded our target of to tackle issues that are critical
98.3% demonstrating the value to the future of the profession and
members derive from the ACCA global business.
Qualification. In a survey, members
said they thought ACCA offered • developing the accountancy
best overall value in terms of the profession in singapore
membership subscription fee among
ACCA was proud to be awarded the
international bodies.
tender by the Pro-Tem Singapore
Accountancy Council to develop a
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new post-university professional
qualification for Singapore. • ACCA Connect, our global contact
centre, now operating 24/7, 365
• new and renewed global
In September 2011, ACCA became
accountancy partnerships
the first professional accountancy
Agreements were signed or body to provide this round-the-clock
extended in the past year with contact service.
ACT (the Association of Corporate
Treasurers), CGA-Canada, CIOT (the • reducing the time we take to issue
Chartered Institute of Taxation) and exam results by one full week
MICPA (the Malaysian Institute of
As a result of better and faster
Certified Public Accountants). ACCA
processes, we have been able to
now has 73 global accountancy
reduce the amount of time students
partnerships.
have to wait for exam results.
• 77.2% member and student
• Centralising contact for nine key
satisfaction
student and member markets,
We have maintained a high level of giving a globally consistent service,
overall customer satisfaction, with benchmarked to industry standards
scores remaining consistent with
Following our successful pilot
results for 2010–11.
in Hong kong SAR, we have
centralised transactional telephony
• Improving our digital offerings,
and all email contact for direct
making us much easier to do
customers in Australia, the Czech
business with online
Republic, Ireland, Malaysia, New
Sustained investment in customer Zealand, Poland, Romania and
service over the past 12 months Singapore, with all calls charged at
has seen customer service and IT local rates.
Service Level Agreements reached
and the online customer experience
improved. 75% of students and 70%
of members now say that ACCA is
easy to do business with online.
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• beginning our long-term move • Launching our new jobs website
towards the e-assessment of all our ACCA Careers
exams
In response to customer demand,
2011–12 saw the early stages of ACCA Careers was launched in
ACCA’s move towards delivering September 2011 and has attracted
exams online, meeting employers’ over 21,000 registered users and
calls for greater flexibility and over 10,000 job listings in its first
relevance to the current and future six months of operation.
work environment.
• strengthening our infrastructure
by transferring our It services to
managed, external centres
Since going live in November
2011, this change has significantly
improved our systems reliability,
giving ACCA a platform on which to
build its online offering in 2012–13
and beyond.
• redesigned sections of
accaglobal.com on a new, more
stable platform
We have redesigned significant
sections of our website, including all
section homepages, our pages for
prospective students, employers and
our research and insights content.
All redesigned pages are hosted
on a new platform that has been
extensively stress-tested so it can
handle significant traffic.
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