ACCA - The global body for professional accountants

ACCA (the Association of Chartered Certified Accountants) Council's final meeting of 2012 took place at 29 Lincoln's Inn Fields, London, on 24 November

This was held immediately following the annual meeting of ACCA's International Assembly.  Assembly members Chama Kamukwamba (South Africa) and Katerina Sipkova (Czech Republic) were invited to give oral reports to Council on the outcomes of the Assembly meeting, including the debates Assembly members held around the topics of ACCA as a digital organisation and the future of the professions – global trends.

A number of other matters were debated at the Council meeting, held in London:

  • Council met in break-out groups to discuss issues around the future of the professions, a topic which had also been considered by the International Assembly. The discussions centred around how shifts in society have impacted on professional bodies, the key challenges and opportunities which will affect these organisations, and ACCA’s possible responses to these. The outcomes of the discussions will help to inform the development of ACCA's strategy beyond 2015.
  • Council also considered the regular report of the Chief Executive covering a number of strategic developments both within and outside ACCA and developments in key markets.
  • Council approved a policy approach to Standards for Business to be adopted by ACCA.  The approach is designed to capture input from a number of stakeholders including investors, preparers, standard setters and regulators.  It supports ACCA’s strategic objective to lead and shape the agenda of the profession and to be the leading global accountancy body in reputation, influence and size.
  • On a recommendation from Nominating Committee, Council agreed to co-opt to Council Japheth Katto, FCCA, for a period of three years.  Japheth Katto is the Chief Executive Officer of the Capital Markets Authority of Uganda.  He is a current Board member of IFAC and has also held key appointments with IOSCO and the Ugandan national accountancy body.  This is the first occasion that Council has used the powers of co-option granted to it under bye-law 23 since the bye-law change was effected in 2009. Council firmly believes, however, that Japheth Katto’s membership of Council will strengthen the skills mix on Council and will be an asset to ACCA as a whole.
  • Council also invited into full membership of ACCA five senior accountants based in the People’s Republic of China.  This was done in accordance with Membership Regulation 3(f).
  • In other business, Council agreed a timetable for choosing its preferred nominee for Vice President in 2013-2014.  It also received presentations from the Chairmen of Governance Design and Market Oversight Committees on the work plans for their committees for the coming year.

The next scheduled meeting of Council will take place in London on 16 March 2013.