Reputation and influence
ACCA and the Charity Commission signed a Memorandum of Understanding (MOU) in June, providing a framework for joint working between the two bodies. The signing was by Allen Blewitt, ACCA chief executive, and Andrew Hind, chief executive of the Charity Commission. The agreement aims to raise standards of registered charity reporting through educational and research activity; provide opportunities for collaborative working between ACCA and the Commission’s international team; and improve handling of instances of poor professional practice relating to ACCA members employed by or acting for registered charities.
The HFMA (Healthcare Financial Managers Association) is playing a growing role in the NHS and is one of ACCA UK’s key contacts now and in the future. ACCA UK has undertaken two key projects with HFMA this year, speaking at the HFMA UK/US exchange conference in Paris, and undertaking a joint study tour to New Zealand. It has also agreed to run events jointly with HFMA branches.
Also in the healthcare sector, Sharon Cannaby, UK head of Health Sector Policy meets regularly with the FD of the NHS in England. Other contacts in this sector include the Pennsylvania Cost Containment Council, Sing Health and NHG (both in Singapore).
After research involving teachers and ACCA members, ACCA UK developed a new careers resource pack which can be used by stakeholders when promoting a career in accountancy to school students. The pack will ensure that teachers have the knowledge and confidence to speak to their students about a career in accountancy; it also provides ACCA members with resources aimed at the schools market ensuring they are using up to date information. The pack contains accountancy fact sheets, tasks that can be run with students, ACCA student and member case studies, presentations, and Oxford Brookes University degree videos. In September, the resource pack was sent to all 5,000 secondary schools in England, Wales and Scotland.
The Panellist Awards, introduced in 2006, recognise members who have made a significant contribution to developing support for ACCA members in either regional or employment-based members’ networks, raising the profile of ACCA UK over the past 12 months, and to recognise the consistent contribution of an individual over many years. Frank Hovell, Thames Valley Network, won the award for a consistent contribution; Tracey Christmas won the regional members’ network award for her contribution to the Women’s Members’ Network in Yorkshire.
The Financial Services Network Panel and members in the insurance industry were invited to attend a consultation meeting on the International Accounting Standards Board's paper on audit in insurance. David Rawlings from the panel and Jo Clube from Aviva both attended. The Panel also contributed to a Public Policy Unit report, Windfalls or Shortfalls? The True Cost of Demutualisation, for the All-Party Parliamentary Group. The report included a survey of ACCA’s members working in financial services.
Sharon Cannaby has completed a number of consultation responses on healthcare this year, many on the introduction of IAS to the NHS. ACCA is the only accountancy body asked to contribute to these. It also submitted a response to an EC consultation on cross border health care.
In conjunction with the Department of Health, ACCA UK developed a questionnaire to test understanding of governance in the NHS. This was sent out to all CEs, FDs and chairs of NHS organisations in England.
In response to new legislation in this area, a Companies Act booklet was produced specifically addressing the Act's implications for company directors. This was sent to all ACCA practitioners as a guide which they could then pass on to their clients. Several thousand copies were printed and distributed.
ACCA UK commissioned further research from High Fliers in order to shape the UK undergraduate marketing strategy. The comprehensive report produced by High Fliers was based on face-to-face interviews and focus groups at 30 UK universities, with 100 undergraduates participating in the market research into undergraduate perceptions of ACCA’s promotional literature, web-site and poster. The research showed more positive results than the previous year - two-thirds of students have seen ACCA promotions and 15% have met ACCA staff on campus.
As part ACCA’s partnership with SII, the Financial Services Network distributed copies of SII's book on integrity in the workplace. Astrid Lovelace attended the launch of the Institute's wealth management qualification and sent an appeal to all members in the network to join their board of examiners. ACCA UK is also in the process of working in partnership on SII's annual conference - in 2007 we collaborated on the 'MiFID: are you ready for implementation?' conference.
Good working relations have continued with the Global Association of Risk Professionals (GARP). ACCA has promoted the latter's Asian conference and GARP has provided ACCA with speakers and ideas for the Financial Services autumn programme. Negotiations have been completed to offer GARP's facilities at discounted rates to members.
The UK Leaders of Tomorrow programme goes from success to success with groups formed in London, Cardiff and Edinburgh. The group provides ambitious young members with the opportunity to network and obtain career development.
Common Purpose: Common Purpose brings together leaders from diverse backgrounds and different sectors and aims to encourage individuals to go outside their usual working environment.
Gareth Griffiths met with Bright Futures (previously known as the Students Industrial Society) to discuss corporate membership. The updated membership benefits include a more interactive web site, the ability to target email students, and a more national approach to engaging with the society. Fifteen of the Top 30 Universities have a Bright Futures society.
UK Student Promotions partnered with Pure Potential and PricewaterhouseCoopers to promote a career in accountancy. This organisation works with 50,000 Year 12 students from non-traditional university backgrounds to help them achieve their full potential in the university application process and beyond.
The second annual Careers Advisers Day (Glasgow) was held in May 2007 at ACCA’s offices and was attended by 14 university careers advisers, including three from Top 30 Universities. Tenon and Morgan Stanley spoke about their training programmes and why they are now actively looking to recruit ACCA students. The Careers Advisers Day (London) was held at Tower of London and was attended by 57 university careers advisers - almost twice as many as last year. There were presentations by Tenon, BDO Stoy Hayward and Sainsbury’s, and nine ACCA students and members took part in graduate alumni sessions.