ACCA publishes its Regulatory Board’s report on regulation

Report reflects on regulatory activities and achievements

ACCA (the Association of Chartered Certified Accountants) has published a report from its Regulatory Board which reflects on its regulatory activities and achievements in regulation over the 2017 calendar year.

ACCA’s Regulatory Board – with a non-accountant chair and majority – is responsible for ensuring that the regulatory systems keep up with the dynamic environment in which ACCA members work, and to continue to protect the public interest.

Chairman of the Regulatory Board, Antony Townsend says: ‘ACCA and the Board believe that proper regulation is crucial to public trust in financial systems and we are committed to proactively supporting regulatory developments across ACCA’s markets. The Board has therefore looked at the systems for regulating members in a wide range of circumstances across the globe, including ACCA’s arrangements with partner accountancy bodies in other countries to ensure that they are proportionate and effective.’

Peter Large executive director governance at ACCA adds: ‘This report will be my final one, as I am retiring at the end of September 2018; but my lasting observation is that, despite the increasing regulatory complexity across the many different markets we operate in, and the regulatory landscape changing at an ever increasing pace, ACCA’s in a strong position to support our strategic vision to be #1 in developing the accountancy profession the world needs through our continuous improvements and innovations in the field of regulation. This is largely due to the open dialogue we continue to seek with oversight bodies across the world to ensure ACCA is at the forefront of thinking as new developments arise.’

About the Regulatory Board

This was launched in September 2008 to align all ACCA’s public interest oversight arrangements into a single entity.

The Board’s public interest role sits at the heart of ACCA’s oversight structure and it provides oversight over all of ACCA’s public interest functions – setting qualifications and assuring their delivery, setting professional standards, and maintaining the licensing and disciplinary system.

The Board is supported in its work by three sub-boards, which have marked the following as successes:

  • Appointments Board – strengthening the competency framework for panel members and continuing to oversee the performance of committee members, chairmen and legal advisers
  • Qualifications Board – assuring the quality of examinations with expert advice, upholding the integrity of the examinations, and monitoring the introduction of computer-based examinations and the new ACCA Qualification
  • Standards Board – implementing necessary amendments to the ACCA Rulebook and improving the format and promotion of the standards.

The full report is available at this link: https://www.accaglobal.com/content/dam/ACCA_Global/Members/Doc/prof-standards/report-on-regulation-2018.pdf


- ends -

For media enquiries, contact:

Helen Thompson

E: Helen.Thompson@accaglobal.com
T: +44 (0)20 7059 5759
M: +44 (0)7725 498 654

Twitter @ACCANews

About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants, offering business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.

ACCA supports its 208,000 members and 503,000 students in 179 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 104 offices and centres and more than 7,300 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.

ACCA is currently introducing major innovations to its flagship qualification to ensure its members and future members continue to be the most valued, up to date and sought-after accountancy professionals globally.

Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. More information is here: www.accaglobal.com

 

ACCA (the Association of Chartered Certified Accountants) has published a report from its Regulatory Board which reflects on its regulatory activities and achievements in regulation over the 2017 calendar year.

ACCA’s Regulatory Board – with a non-accountant chair and majority – is responsible for ensuring that the regulatory systems keep up with the dynamic environment in which ACCA members work, and to continue to protect the public interest.

Chairman of the Regulatory Board, Antony Townsend says: ‘ACCA and the Board believe that proper regulation is crucial to public trust in financial systems and we are committed to proactively supporting regulatory developments across ACCA’s markets. The Board has therefore looked at the systems for regulating members in a wide range of circumstances across the globe, including ACCA’s arrangements with partner accountancy bodies in other countries to ensure that they are proportionate and effective.’

Peter Large executive director governance at ACCA adds: ‘This report will be my final one, as I am retiring at the end of September 2018; but my lasting observation is that, despite the increasing regulatory complexity across the many different markets we operate in, and the regulatory landscape changing at an ever increasing pace, ACCA’s in a strong position to support our strategic vision to be #1 in developing the accountancy profession the world needs through our continuous improvements and innovations in the field of regulation. This is largely due to the open dialogue we continue to seek with oversight bodies across the world to ensure ACCA is at the forefront of thinking as new developments arise.’

About the Regulatory Board

This was launched in September 2008 to align all ACCA’s public interest oversight arrangements into a single entity.

The Board’s public interest role sits at the heart of ACCA’s oversight structure and it provides oversight over all of ACCA’s public interest functions – setting qualifications and assuring their delivery, setting professional standards, and maintaining the licensing and disciplinary system.

The Board is supported in its work by three sub-boards, which have marked the following as successes:

  • Appointments Board – strengthening the competency framework for panel members and continuing to oversee the performance of committee members, chairmen and legal advisers
  • Qualifications Board – assuring the quality of examinations with expert advice, upholding the integrity of the examinations, and monitoring the introduction of computer-based examinations and the new ACCA Qualification
  • Standards Board – implementing necessary amendments to the ACCA Rulebook and improving the format and promotion of the standards.

The full report is available at this link: https://www.accaglobal.com/content/dam/ACCA_Global/Members/Doc/prof-standards/report-on-regulation-2018.pdf

- ends -

For media enquiries, contact:

Helen Thompson

E: Helen.Thompson@accaglobal.com
T: +44 (0)20 7059 5759
M: +44 (0)7725 498 654

Twitter @ACCANews

About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants, offering business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.

ACCA supports its 208,000 members and 503,000 students in 179 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 104 offices and centres and more than 7,300 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.

ACCA is currently introducing major innovations to its flagship qualification to ensure its members and future members continue to be the most valued, up to date and sought-after accountancy professionals globally.

Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. More information is here: www.accaglobal.com

 

"ACCA and the Board believe that proper regulation is crucial to public trust in financial systems and we are committed to proactively supporting regulatory developments across ACCA’s markets."

Antony Townsend - Chairman of ACCA's Regulatory Board

"ACCA’s in a strong position to support our strategic vision to be #1 in developing the accountancy profession the world needs through our continuous improvements and innovations in the field of regulation. "

Peter Large, executive director - governance - ACCA