ACCA Threats Identified
An official ACCA Strategy document seen by AABA identifies a number of
threats (see below).
The document seems to be produced by some novices with little or no understanding
of how organisations operate, compete, die or whither. It does not evaluate
the current policies, value for money, decline in the number of new members
from the UK, the calibre of management, poor leadership, imperialism
in former British colonies, poor facilities for members and many many other
things which are dissuading UK graduates from joining ACCA. The policies of
the current management are the biggest threat to the future of the ACCA, but
they they don't even get a mention. There is no indication of any methodology
that enables ACCA management to identify any threats (or strengths and weaknesses
for that matter).
a. competition from other bodies which also increasingly
have focused strategic plans (ICAEW, CIMA, AIA, ASCPA. CGAA).
b. competition from commercial providers which
provide internet-based services and support through "on-line communities"
catering for all finance professionals.
c. continuing competition from CIMA in the UK corporate
d. ICAEW's new syllabus plans focusing on business;
ICAS's plans to attract non-graduates and make greater use of distance
e. the plans of the G10 for a global business qualification
and a global accountancy qualification.
f. the possibility of losing markets.
g. diminishing control over regulation, discipline
and standard setting as these are increasingly overseen by independent
and international authorities.
h. audit deregulation leading to a decline in
the status and number of smaller practitioners, a reduction in training opportunities
in smaller firms, ultimately, a possible threat to ACCA's statutory recognitions.
i. ICAEW and ICAI offering membership to ACCA's
practising members, thereby posing a threat to ACCA's statutory recognitions.
j. relatively few (700) ACCA practitioners
training Certified Accountants so too great a reliance on Chartered
firms which could withdraw support at any time.
k. the need to protect its position in a large number
of areas simultaneously:
in relation to ICA's, FSA and insolvency organisations.
-outside the UK,
in relation to national professions and other professional bodies.
-in the public
sector, in relation to CIPFA and CIMA
-in industry and
commerce, in relation to CIMA and MBAs
l. possible infrastructure implications
of large scale student recruitment (India, Pakistan, China, technician
m. some national bodies' determination to block ACCA's
n. danger of 'devolution' being misunderstood as synonymous
o. the generally fast moving environment and the
need to anticipate and react quickly to events.
p. the possibility of government and regulators taking
seriously the agenda of the so-called dissident members.