Is ACCA a UK Accountancy Body? It certainly has recognition under the Comapnies Act 1989 (now consolidated into Companies Act 1985) and acts as a regulator of the auditing and insolvency industries. But majority of its membership is not in the UK. ACCA jealously guards the geographical composition of its memberships and does not publish an analysis showing the number of members in each country, but majority of its membership are outside the UK. I
Many from the former British colonies have disadvantaged their local communities by failing to develop local social infrastructure and have instead given their resources to ACCA. Perhaps, they though that this brought them prestige (erroneously) of the membership of a UK body. But ACCA's nature has now changed.
Accountants from outside Britain should have the confidence to develop their own institutional structures to meet local needs. They should enter into relationship with other accountancy bodies as equals. Membership of ACCA and other British accountancy bodies does not give them an equal status. They become permanently dependent. This cannot be good for their self-esteem, culture, history and local development.