UK_A_elections_165

This article was first published in the May 2016 UK edition of Accounting and Business magazine.

This is an important time in ACCA’s governance cycle: the period for nominations for this year’s Council elections has now opened. Between now and 15 June, members can put themselves forward as candidates for election to Council. If you are interested in helping to shape the future of ACCA and have ideas, energy and experience to contribute, I encourage you to think about standing.

As ACCA’s secretary, the Council election process falls under my remit. However, that isn’t the only reason I care about it and want it to be as effective as possible. During my career I’ve developed a strong interest in corporate governance and gained insights into its value within organisations. Before I joined ACCA in November 2015, I spent the previous seven years working in the National Health Service as director of corporate affairs at St George’s University Hospitals NHS Foundation Trust in south-west London. My role was a broad one, giving me responsibility for corporate governance as well as risk, legal services and communications. I’ve also worked in central government and various private sector companies, including Computer Sciences Corporation and AVIS Europe.

As a qualified company secretary, having gained my qualification from the Institute of Chartered Secretaries and Administrators, I appreciate the valuable work that professional bodies like ACCA do. I realise that effective corporate governance is vital for maintaining a well-run organisation and mitigating the risks that ACCA faces. This viewpoint is underpinned by the research and insights work ACCA continues to undertake in the area of corporate governance, risk management and organisational effectiveness. Our interest and involvement in corporate governance is longstanding, and for many years ACCA has encouraged debate on what makes for effective governance – how it could and should work.

Representing members

The Council elections bring that theory to life. A key feature of ACCA’s governance structure is that our members vote for and appoint Council. We see this as fundamentally good corporate governance, creating a direct link between our membership and the running of our association. ACCA’s Council has an important and wide-ranging remit, ensuring that we operate in the public interest and deliver the objectives stated in our Royal Charter. Council also elects a president, deputy president and vice president, who function as the leadership of the ACCA membership, and their appointments run for one year.

A key part of Council’s role concerns helping to shape ACCA’s strategic direction. Council collaborates with the executive team in order to devise ACCA’s strategy and provides an objective environment to help the executive team address new issues. Together, Council and the executive explore ideas and challenge the status quo.

Council is required to approve ACCA’s strategy, while its delivery is undertaken by the executive team. Council has responsibility for governance of the process and performance management – in effect, it holds the executive team to account on behalf of members for the achievement of ACCA’s objectives. Council also has an important role to play in promoting the chosen strategy and explaining it to our global membership.

Governance role

Council also plays an important role in ACCA’s effective governance in a number of other ways. Council members are represented on a range of standing committees that are designed to ensure our strategic direction is well governed and well planned. For example, Council provides assurance to members about ACCA’s sound financial and general management through an audit committee. (It does not, however, appoint our external auditors, as this activity is reserved for the Annual General Meeting.) Council also appoints the Nominating Committee to ensure that Council remains representative of our membership and that all members of Council are able to play a full part in Council affairs through, among other things, other committees of Council. The Council-appointed Remuneration Committee deals with the performance and remuneration of senior management, and reports back to Council as appropriate. Other active and important committees include the Governance Design Committee, Market Oversight Committee and the Resource Oversight Committee, all of which address key areas of ACCA activity and report back to Council.

Council members are also represented on a number of public oversight boards, namely the Appointments Board, Regulatory Board, Qualifications Board and Standards Board.

My call to action

As you see, Council plays a vital role in helping ACCA to create a successful future. We therefore need a strong Council, one that fully represents the strengths of our membership. We want Council members from around the world, from every sector of the profession and who can represent a wide range of senior positions. We need individuals with technical or practical experience, with high professional integrity and ideas to share. We also value members with strong communication skills, who are able to perform effectively in ambassadorial roles and who are capable decision-makers. Willingness to learn and continue your own personal development is also encouraged.

The term of office for Council members is three years, but members can stand for re-election up to three times. This means that you could potentially serve on Council for nine years in total. This period could then be extended to 12 years if you are elected to act as vice president, deputy president and president, and need the extra time on Council in order to complete your presidency.

Being a Council member is stimulating and challenging. You will ultimately be responsible for safeguarding ACCA’s reputation, image and brand. You will be acting on behalf of all members and on behalf of future generations of members – today’s students. It goes without saying that being a Council member is a high-profile and highly responsible role.

The Council election process is controlled and well governed (see the box for an outline of how it works.) If you want to play your part in ACCA’s future, why not put yourself forward for the Council elections? You need to get your application in to me by 15 June. I’d wholly recommend it. Good luck!

Peter Jenkinson is ACCA’s secretary