ACCA

The Association of Chartered Certified Accountants (ACCA) is one of the leading accountancy professional associations in the world. This is the largest and fastest growing international accountancy body in the world, with over 320,000 members and students in 160 countries. The ACCA has an extensive network of over 70 staffed offices and other centers around the world.

Brief History:

In 1904 eight people formed the London Association of Accountants, in order to provide opener access to the accountancy profession than the two existing accountancy organizations. The ACCA went through a number of mergers and amalgamations over the years. In 1984 it became the Chartered Association of Certified Accountants to reflect the fact that, a decade earlier, it had been granted a Royal Charter of Incorporation. In 1996 ACCA became the Association of Chartered Certified Accountants (ACCA).

About the Association:

The ACCA members, who are known as Chartered Certified Accountants, are employed in the industry, the financial services, the public sector, or in public practice. With statutory recognition in the UK and Ireland, ACCA has the authority to license their members to work as registered auditors. In the UK, it also authorizes its members to undertake in solvency work. Outside the UK, ACCA are recognized under the EU's Mutual Recognition Directive and in many countries around the world.

In Bangladesh, the demand for the ACCA qualification is also increasing and a few fully qualified persons are in service in different sectors. Now British Council has become a regular exam centre. People who are interested in the profession and want to use the opportunity to join their desired career they can register themselves online at the address: www.accaglobal.com.

In other South Asian countries such as Pakistan, India, Sri Lanka and Nepal, the ACCA is a recognized qualification and its demand there is very high compared to Bangladesh. By recognizing the ACCA, the business as well as the education sector is benefiting in these countries. To get the full benefit, our business sector must realize the value of this qualification. And accordingly, it has to act by recruiting more and more qualified ACCAs. If we can create more and more opportunities for our professionals, then the students, who had gone to UK to earn this qualification, will be back and the country will get better service from this fresh crop of experts.

In the UK, the difference between the ICAEW and the ACCA in relation to the job market is very little. From the salary survey, it is clear that there is no difference. Members of both the associations can engage in general practice in the audit and solvency practice. The ICAEW member can get the ICAB membership straightway, but not the one from ACCA. In our view this is not fair. We would appreciate if the ICAB authorities can sit on this issue and discuss the matter both within ICAB and with ACCA. If we can include ACCA in our list, we believe we will be benefited. Since ACCA is the most dynamic and active association, its members are in every sector of business and consultancy.

The goal of the ACCA is to be the leading global professional accountancy body in size, influence and reputation.

ACCA's Mission:

> To provide opportunity and access to the people of ability around the world and to support our members throughout their careers in accounting, business and finance;
> To achieve and promote the highest professional, ethical and governance standards;
> To advance public interest, and
> To be a global leader in the profession.

Strategic Approach:

In 2004, ACCA's's strategy, plans and operations were reviewed. As a result of this work, the ACCA's Council agreed on a new corporate strategy.

In summary, the ACCA Aims to:

> Be the first-choice qualification to people who seek a rewarding career in accountancy, finance and management
> Provide distinctive, world-class qualifications, which secure opportunity for our students and members
> Enhance relationships with employers, governments and other key stakeholders that will help sustain demand for ACCA-trained professionals
> Retain member loyalty, encouraging members to become ambassadors to increase ACCA's influence; and

> Use our expertise to assist organizations to develop the profession.

To support this strategy, the Council has agreed on a range of key performance indicators, which will be used to measure progress against specific objectives. These cover growth, stakeholders' satisfaction and retention, efficiency and innovation. The ACCA will report annually on its key performance indicators. Both Council and the executive are committed to demonstrating accountability, providing value and developing the accounting profession.

The ACCA's Strategic imperatives are to:

> Continue focused growth, concentrating on core products and services

> Build and leverage our global infrastructure and reach;

> Engage our large and growing membership base, and

> Create a more efficient and effective organization.

For our own improvement and benefit we should recognize the ACCA qualification and take necessary steps to recognize any ACCA member. In this way, we will get more experts for our association and improve ourselves further from their service.