Katrina Wingfield presented the Board's annual report for 2011.
The report focused on a successful regulatory event organised last October, where Sir Ian Kennedy, expert on the law and ethics of medicine, was the guest speaker, and the establishment by the Board of an Overview of Regulatory Procedures Working Party.
Council was pleased to note the report overall highlighted the Board's commitment to continuous improvement in regulation. It was reassured that, going forward, the Board would continue to provide proactive oversight of ACCA's disciplinary and regulatory processes.
The Council meeting also:
- met in discussion groups to debate the competitive landscape in the global profession and ACCA's response to it.
- considered the regular report of Helen Brand, Chief Executive of ACCA. The report covered ACCA's performance as well as a review of ACCA strategic development and developments in the wider profession.
- on recommendation from the Resource Oversight Committee, approved the proposed budget for the organisation for 2012/2013. Following a recommendation from a group of standing committee chairmen, Council also approved achievement measure targets put in place to track ACCA's strategic performance in 2012/2013.
- at the request of the Regulatory Board, considered its policy regarding ACCA students who hold AAT practising certificates. Council agreed to maintain its current policy to recognise only professional level, IFAC member body-issued practising certificates, and to not introduce any exemptions for AAT practising certificate holders.
- under the terms of membership regulation 3(f), agreed to invite to the ACCA membership four senior accountants from Indonesia - Rosita Uli Sinaga, Ahmadi Hadibroto, Irhoan Tanudiredja and Langgeng Subur.
- happily approved the signing of a renewed Mutual Recognition Agreement with the Malaysian Institute of Certified Public Accountants.
- confirmed Anthony Harbinson as its preferred nominee for vice president 2012/2013. (The formal elections for ACCA's officers will take place at the annual council meeting immediately following the AGM on 20 September).
Council's next meeting will be held in June, in Nairobi, Kenya, as part of the biennial series of meetings held in ACCA's key international markets.
- ACCA’s Regulatory Board was established after the AGM in May 2008 and brings together all of ACCA's arrangements for regulation and discipline in a single entity. The Board stands at arm's length from Council and the majority of its members are lay individuals.