A career in accountancy can enhance both economic status and social mobility, says ACCA (the Association of Chartered Certified Accountants) today in response to Alan Milburn’s review of social mobility for the Coalition government’s Fair Access to Professional Careers.
Andrew Leck, head of ACCA UK says: 'While the accountancy profession is not in the media headlines today, it does get a commendation in Milburn’s review for having ‘consciously constructed ladders of opportunity that allow non-graduates to enter and progress in a professional career.’ This is good news, but my sense is that we cannot rest on our laurels. Together with the medical, legal and journalism professions, we need to work collectively to share best practice to ensure change.
'For ACCA, the key is to ensure that those from disadvantaged backgrounds are as able to access the professions as those from more privileged backgrounds. ACCA is firmly committed to ensuring fair access to accountancy and we welcome the Coalition government’s focus on social mobility. We look forward to working with them and other professions through Professions for Good to move forward the social mobility agenda.
'ACCA stands by its founding principles, established in 1904, to broaden access to accountancy. We still aim to provide opportunity and access to people of ability around the world and to support our members throughout their careers in accounting, business and finance. ACCA continues to believe that increased diversity and mobility in the UK will enhance business performance.'
Facts about ACCA and social mobility:
- ACCA supports the Business Compact on Social Mobility, launched in spring 2011.
- ACCA is a member of Professions for Good and is working on the Social Mobility Toolkit, advocated by Professions for Good as a means to monitor social mobility progress within the strict parameters of data collection regulations and rules.
- ACCA’s ongoing work on social mobility was highlighted as an example of ‘best practice’ by the Cabinet Office’s Access to Professions Panel report, published in 2009.
- ACCA offers a number of flexible routes to accountancy qualifications, from the new Foundations in Accountancy suite of qualifications through to exemptions that are available for the ACCA Qualification itself. ACCA also offers access to a bachelor degree with a Master’s degree en route via Oxford Brookes University. Over 3,000 students are registered onto ACCA’s new Foundations in Accountancy suite of qualifications – proving that access to a career in finance with flexible entry and exit points is in demand.
- ACCA UK works with schools, colleges, academies and universities to promote accountancy as career; we also work with the 8,500 employers globally who choose to train their staff through the range of ACCA qualifications; and as an employer by recruiting openly and fairly, ensuring non-discriminatory practices.
- For a student completing the ACCA qualification in five years, the average cost of ACCA registration, subscription and examination fees is approximately £1,455. The additional cost of tuition fees would be dependent on the method of study the student or employer chose.
- 48% of the ACCA UK student base is female and 48% of ACCA UK’s students are non-graduates.
- Read the 'Fair Access to Professional Careers' review and the 'Social Mobility Toolkit for the Professions' from the 'Related Links' section to the left of this article.