The global body for professional accountants

Council’s final meeting of 2013 took place at 29 Lincoln’s Inn Fields on 23 November.  This was held immediately following the annual meeting of ACCA’s International Assembly.

Assembly members Ahmad Darwish (UAE) and Roy Tsang (Hong Kong) were invited to give oral reports to Council on the outcomes of the Assembly meeting, focusing on the discussions around ACCA’s future strategy.

Council was also pleased to welcome Andre Kilesse, the President of FEE (the European Federation of Accountants) who gave a wide ranging presentation on FEE’s views on audit, public sector and tax policy and the importance of SMPs for FEE and ACCA’s involvement.

A number of other matters were debated at the meeting on 23 November:

  • Council considered the regular report of the Chief Executive covering a number of strategic developments both within and outside ACCA and developments in key markets.  The report also included an overview of ACCA’s performance in the year to date, including a financial summary.
  • Council approved a global policy for ACCA on taxation. Taxation is and will remain high on the agendas of policy makers, businesses and professional advisers around the world.  It is therefore timely that Council should adopt a number of guiding policy principles which can be used as the basis for ACCA’s position in the public debates on principles and practices.
  • It also supported a recommendation from Governance Design Committee regarding an outline package of changes to ACCA’s public interest oversight arrangements, including a related timetable.  Full developed proposals will be brought to the next Council meeting in March.
  • Council also received a presentation from Council member Japheth Katto who briefed Council on his term on the Board of IFAC and the future challenges facing the organisation.
  • In other business, Council agreed a timetable for choosing its preferred nominee for Vice President in 2014 – 2015.  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 Council meeting closed with a three hour session devoted to discussion and development of ACCA’s strategy to 2020.  Council received a thought provoking presentation from Magnus Lindkvist, a leading futurologist and scenarios expert, on the emergence of trends and how they shape strategy development.  Magnus was followed by Chief Executive Helen Brand who introduced ACCA’s draft strategy to 2020. Council members then broke into discussion groups to debate the draft strategy.

Council will next meet on 13 March 2014.  The meeting will take place in Dubai, as part of the biennial series of meeting which are held in markets of key importance to ACCA.  A number of stakeholder engagement events will be organised around the meeting, which will be followed by visits by smaller groups of Council members to other countries in the region.